FINANCE & ECONOMY

19 Jun 2017

Remittances from expatriate Egyptians rise by 11.1% since float

Remittances from expatriate Egyptians rose by 11.1 percent between the currency float in November and the end of April, the central bank said on Sunday, with economists suggesting recent reforms have begun restoring confidence in the banking system.

Expatriate"...

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19 Jun 2017

IDWB provides financings of EL400n to SMEs sector in H1

Industrial Development & Workers Bank (IDWB) has pumped EGP 400mn in loans in favor of small, medium and micro-sized enterprises during the first half of the current year, a 27% rise over the end of last year.

Vice chairman of IDWBE Hamdy Azzam told Al Mal newspaper that"...

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19 Jun 2017

Egypt removes mention of 2011 uprising from school curriculum

Egypt has removed mention of the events of 25 January 2011 revolution and the military coup of 30 June 2013 from the history curriculums for the secondary school stage, Ahram Online reported today, quoting an official source.

Reda"...

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19 Jun 2017

Egypt blocks access to Hürriyet Daily News website

Egypt has blocked access to the Hürriyet Daily News website, in what is the continuation of widening series of such online blockages in the country over the past week, according to a report by a local"...

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19 Jun 2017

EU raises aid to Egypt up to €600 million

The European Union has raised the ceiling of aid offered to Egypt from 450 million to 600 million euros during ongoing negotiations on the aid budget for the coming three years.

Speaking"...

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19 Jun 2017

Egypt's Film Industry is Getting a Slight Renaissance

No one could deny that the Egyptian cinema industry faced a stagnating halt in the 2010s, especially post the 2011 revolution. Whether this happened due to an overall shift in popular demand or due to financial shortages on the producers’ end (or both), one thing is clear:

...

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19 Jun 2017

International cooperation ministry injects investments into Upper Egypt: minister

Egypt's International Cooperation Minister Sahar Nasr said that her ministry is currently focusing on pumping investments into Upper Egypt’s development projects, in light of incentive schemes stated by the new investment law for the neediest places; foremost among them is getting"...

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19 Jun 2017

GE To Build 100 Locomotives for Egypt

Reuters News Agency is reporting that GE has signed a deal to build 100 locomotives for Egypt as part of their plan to modernize the Egyptian rail service. The deal is reportedly worth about $575 million includes upgades and maintenance on 81 GE locomotives that Egyptian National Railways"...

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19 Jun 2017

Egypt woman breaks into men-only Ramadan wakeup call job

Dalal Abdel-Qader, a 43-year-old mother from Cairo, is doing something that has for centuries been the exclusive domain of men — being a 'mesaharaty,' or the person who walks the streets before dawn calling out to wake up the devout for their last meal, 'sahur,' before"...

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19 Jun 2017

Philip Morris International to Build Smoke-Free Product Facility in Germany

Another step towards a smoke-free future ● USD 320 million investment in new Dresden facility ● 500 new jobs expected (ME NewsWire)-- Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) announces plans to invest approximately USD 320 million in a new high-tech facility in Dresden, Germany, to produce HEETS, the tobacco units to be used with the electronic tobacco heating device IQOS. Construction of the 80,000 m2 facility is scheduled to begin in late 2017. Once fully operational in early 2019, the factory is expected......

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