FINANCE & ECONOMY

11 Dec 2017

Egypt to sign contracts for nuclear power plant during Putin's visit-sources

Moscow and Cairo signed an agreement in 2015 for Russia to build a nuclear power plant in Egypt Egypt will sign contracts with Moscow during Russian President Vladimir Putin's visit to Cairo on Monday for the country's first nuclear power plant, three senior sources told Reuters on Sunday. The construction of the 4,800 megawatt (MW) capacity plant, which is supposed to be built at Dabaa in the north of the country, is expected to be completed within seven years, added the sources, who spoke on condition of anonymity because they......

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11 Dec 2017

WorldRemit Raises $40m and Targets Egypt Expansion

Leading digital money transfer service WorldRemit has raised $40 million to drive its next phase of global growth, including an expansion of its Egypt operation. WorldRemit handles a growing share of the $600 billion remittance market. Within that market, Egypt is a key target for the company. Egyptians living overseas transfer billions of dollars worth of remittances back home and earlier this year, the Central Bank of Egypt said that remittances had surged following the floatation of the currency. WorldRemit’s mobile-first, digital model allows migrants to send money in a few taps directly from their phones or online instead of going......

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10 Dec 2017

Beheira Commerce Chamber establishes poultry, fish exchanges, two ‘model markets’ worth EGP 200m

Beheira Chamber of Commerce is establishing two exchanges; one for poultry and another for fish, in addition to two model markets in the cities of Kafr El-Dawar and Idku, with investments worth EGP 200m. Model markets is a project proposed and adopted to provide a solution for informal,"...

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10 Dec 2017

Egyptian Experience to complete 300 tourism units in Luxor next year

Egyptian Experience company for tourism development is set to complete 300 tourism units in its project in Luxor, built on 50,000 sqm, next year.

Chairperson and Managing Director Mohamed Montasser said that the"...

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10 Dec 2017

Egypt signs a deal for international university at Africa 2017 Forum

Egypt’s Ministry of Higher Education and South African Regent Business School have signed Saturday an agreement to establish an international university in Egypt during Africa 2017 Forum.

Egypt’s Investment"...

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10 Dec 2017

Trade exchange between Egypt, Spain surge 16.9% in first 8 months of 2017

The volume of Trade exchange between Egypt and Spain has increased 16.9 in the first 8 months of 2017, reaching €1.6 billion ($1.88 billion), compared to €1.37 billion during same period of 2016, Trade Minister Tarek Qabil said Saturday.

Qabil"...

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10 Dec 2017

Egypt to establish a logistic centre in Tanzania in 2018

Egyptian Chemical Export Council has agreed with Tanzania to establish a logistics centre during the next year in order to facilitate transporting the Egyptian exports to the African market, CEC Chairman Khaled Abu El Makarem said.

Abu"...

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10 Dec 2017

Egypt, Russia to sign an agreement to establish industrial city at Suez Canal Axis

Egypt is expected to sign an agreement to establish an Egyptian-Russian industrial city at the Suez Canal Axis Development project Mohamed Abou El Enein Chairman of the Egyptian-European Business Council.

He added"...

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10 Dec 2017

Egypt’s largest contemporary art fair commences with over 1000 art pieces

Art enthusiasts have cause to celebrate as the Cairo Art Fair III (CAF), the largest exhibition of Egyptian contemporary art to date, kicked off on Friday at the Arts-Mart Gallery, featuring more than one thousand pieces of art by over a hundred Egyptian artists, including paintings, photographs"...

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10 Dec 2017

Nobel Energy considering participating in transferring Cyprus gas to Egypt

American petroleum and natural gas exploration and production company Noble Energy, is considering taking part in the construction of a pipeline to transport gas from Cyprus to Egypt, where the company is currently involved in the development of gas fields discovered there.

The"...

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