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12 Feb 2017

EGP 10m grant from AFDB for developing Ashwa’yat

Minister of International Cooperation Sahar Nasr has signed an agreement with Leila Al-Mokaddem, the resident representative of The African Development Bank (AFDB), to provide a grant worth EGP 10m, allocated for developing ashwa’yat (informal housing areas) and subsidising the low-income class.

Nasr"...

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12 Feb 2017

Egypt-Israel relations have quietly reached a high point

The vast six-lane boulevard from Cairo International Airport into the city center is lined with buildings and offices connected to Egypt’s powerful military. Hotels cater to air force officers, and buildings commemorate, with glorious murals, the country’s fighting history."...

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12 Feb 2017

Who are behind calls to close Shiite media outlets in Egypt?

Egyptian newspapers quoted Sabri as saying, “It is unacceptable and unreasonable to have a media platform in Egypt promoting Shiite ideology. Egypt is an Islamic state and the main source of legislation is Sharia under the constitution, which recognizes Christianity and Judaism to"...

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12 Feb 2017

SFD Egypt hopes to activate $40 mln finance deal with OFID soon

Egypt’s Social Fund for Development (SFD) says it seeks to activate a $40 million financing agreement with the OPEC Fund for International Development (OFID) before the end of first quarter of 2017.

The financing"...

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12 Feb 2017

Egypt’s Misr Insurance net profit climbs 21.91% in Q1-FY2016/17

Egypt's state-owned Misr Insurance Company announced Saturday that net profit rose 21.91 percent to 302.3 million Egyptian pounds (around $17 million) during the first quarter of 2016-2017 financial year.

Earlier,"...

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12 Feb 2017

EGB eyes 1 bln pounds in Egypt household gas connection finances by 2020

Cairo-based Egyptian Gulf Bank is seeking to raise its financing for household gas connection projects to one billion Egyptian pounds ($55.8 million) by 2020, a source with knowledge told Amwal Al Ghad on Saturday.

The"...

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12 Feb 2017

Egypt seals deal with AfDB to restructure state's social lender

Egypt's International Cooperation Minister Sahar Nasr signed on Thursday a grant deal with the African Development Bank (AfDB) to restructure the state's Nasser Social Bank.

Under the terms of the deal, the Nasser"...

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12 Feb 2017

Egypt targets wheat harvest of 10 mn tons in 3 years

Egypt’s Agriculture Minister Essam Fayed said on Saturday that Egypt is looking to increase the domestic production of wheat to 10 million tons from 8 million tons over the next three years. In a statement, Fayed said Egypt will increase the cultivated area and boost the productivity of the acre, along with rationalizing the consumption as part of its...

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12 Feb 2017

Shoukry meets US Congress delegation visiting Egypt

Minister of Foreign Affairs Sameh Shoukry met on Saturday with a delegation from the US congress, headed by senator Dana Rohrabacher. The meeting took place inside the headquarters of the Ministry of Foreign Affairs, according to a state-run media outlet.

The meeting discussed bilateral relations"...

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12 Feb 2017

Egypt's urban inflation jumps to 28.1 pct in January

Egypt's annualised urban consumer price inflation jumped to 28.1 percent in January from 23.3 percent in December, the official CAPMAS statistics agency said on Saturday, its highest level since central bank records began in 2005.

Prices have soared since Egypt abandoned its currency peg to the U.S. dollar on Nov. 3, the pound has roughly halved and...

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