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15 Sep 2014

Troubled factories must solve banking problems with banks: Abdel Nour

Troubled factories must solve their problems directly with banks, rather than with the ministry, said Minister of Industry and Trade Mounir Fakhry Abdel Nour.


The state banking system, under the Central Bank of Egypt (CBE)’s leadership, has launched several initiatives postponing tourism debt payment to banks"......

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15 Sep 2014

Government identifies projects to improve quality of life

The government has identified a list of its service projects to improve Egyptians’ quality of life and ease their troubles, according to Prime Minister Ibrahim Mehleb.


The ministerial committee held its first meeting on Saturday evening under the chairmanship of the prime minister and featuring officials"......

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15 Sep 2014

Egypt takes steps to increase Egyptian products in Russia

During his visit to Moscow this week, Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour assigned the Egyptian embassy’s trade office to study expansion in trade centres showcasing Egyptian products.


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15 Sep 2014

Two new oilfields found in Egypt

Egypt's national oil company Egyptian General Petroleum Corporation has announced the discovery of two new oil reservoirs in the Gulf of Suez and the Western Sahara.


Each reservoir has a capacity of 600 barrels of oil production per day, Egyptian"......

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15 Sep 2014

Egypt seeks broader alliance with U.S.

As U.S. Secretary of State John Kerry sought Egyptian support on Saturday for an international coalition to combat jihadi groups, Egypt pressed for broader international efforts to fight militants in its troubled neighbor, Libya.

The Egyptian position adds another layer to the complexities"...

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15 Sep 2014

Egypt urges global support to curb flash floods in Sinai

Egypt called on Sunday for global support and cooperation to address the seasonal flash floods that cause great losses in the mountainous Sinai Peninsula.


The appeal was made during the second Arab Conference on Disaster Risk Reduction which kicked off on Sunday in the Egyptian tourist resort of Sharm el-Skeikh."......

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15 Sep 2014

Egypt's Irrigation Minister to Visit Ethiopia

Egypt's irrigation minister, Hossam Moghazi, said on Sunday that he will pay a visit to Ethiopia next week for the opening of the first meeting of a national committee which includes 12 water experts from Egypt, Ethiopia and Sudan.


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15 Sep 2014

Egypt's Al-Azhar University to partially close dorms

Al-Azhar's student residences were a hotbed of unrest following the ouster of Islamist president Mohamed Morsi last year.

Cairo's Al-Azhar University will close some of its dormitory buildings over concerns of a repeat of last year's violent confrontations between the university's students and police, which often kicked off from the campus dorms.

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15 Sep 2014

Egypt's stocks continue slide on profit taking, SODIC rights issue

Profit taking ahead of holidays and reshuffling of LE1 billion SODIC rights issue drive main index down to 9,427 points on Sunday amid weak turnover.

Egypt's shares slid on Sunday as investors sought to cash in on profits after a six year high earlier this month and gain liquidity in anticipation of an important rights issue by property developer Six...

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15 Sep 2014

Egypt expects $425 mln from Islamic Development Bank, for refinery, airport

Egypt said on Sunday it expected to receive around $425 million in funding from the Islamic Development Bank to develop an oil refinery in Assiut and an airport in the Red Sea resort of Sharm el-Sheikh.


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