FINANCE & ECONOMY

29 Nov 2016

Egypt's inflation expected to fall 10 pct in second half of 2017

Egyptian Finance Minister Amr al-Garhi said Monday the inflation rate in Egypt is expected to decrease by 10 percent in the second half of 2017, as the country has liberalized the exchange rate of the Egyptian pound, state-run MENA news agency reported."...

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29 Nov 2016

Egypt: Draft Law Bans Independent Civil Society Groups

A new law drafted by Egypt’s parliament would effectively prohibit independent non-governmental groups in the country by subjecting their work and funding to control by government authorities, including powerful security"...

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29 Nov 2016

Third Egypt Automotive Summit to discuss automotive industry strategy on 13 December

Major automotive companies are set to participate in the third annual Egypt Automotive Summit scheduled to take place on 13 December. International companies are slated to participate in the summit to sign supply contracts with feeder industries companies.

This"...

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29 Nov 2016

Egypt’s parliament speaker assures improvement in medicine shortage crisis

Pharmaceutical manufacturers have called the price of medicines to rise following the floating of the pound in early November

The speaker of Egypt’s parliament Ali Abdel-Aal assured the country during a house session on Monday that there has been an improvement in the medicine shortage"...

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29 Nov 2016

Egypt attempts to encourage business investment as Saudi support wanes and severe potential unrest threatens inflows

Key Points

  • As relations with Saudi Arabia falter, transparent dispute resolution mechanisms are essential as Egypt seeks new sources of foreign currency, investment, and energy security. Success depends on Egyptian willingness to privatise and open new opportunities to private sector investors without military interference.
  • Substituting the...

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29 Nov 2016

National Bank of Egypt to secure 90 mln pounds for fertiliser expansion scheme

Egypt’s largest lender, the state-run National Bank of Egypt is offering to finance planned expansions for Cairo-based fertiliser major, the Egyptian Financial and Industrial Company (EFIC).

Ali Al-Sayad, Chairman"...

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29 Nov 2016

China-Egypt trade exchange hit $13bn in 2015

The total volume of Egypt's foreign trade with China recorded around US$13 billion in 2015, Chairman of Egyptian Commercial Services Office (ECS) Ahmed Antar stated Monday.

He added that Chinese imports to Egypt"...

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29 Nov 2016

Egypt's ceramic, sanitary ware exports record $172mn in 9 months

Egypt's total exports of ceramic and sanitary wares declined by 28.6 percent in January-September 2016 to around US$172 million versus US$241 million a year earlier.

Executive Director of state's Export Council for"...

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28 Nov 2016

Egypt’s Black Friday sales are popular, but challenged by economic woes

Egyptian shoppers filled major shopping malls in Cairo on Friday, as shops and e-commerce websites announced major “Black Friday” sales this year. Shoppers at Cairo Festival City, Mall of Arabia and City Stars reported that malls were"...

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28 Nov 2016

NTRA pens sanctions for 4G services within license terms

The National Telecom Regulatory Authority (NTRA) penned a set of sanctions for 4G services within the terms and conditions for the service licences, including a stipulated level of quality. Mustafa Abdul Wahid, acting executive president of the"...

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