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24 Sep 2016

Egypt’s Mallawi Museum reopens with looted collection mostly restored

The Mallawi Museum, in Egypt’s Al Minya Governorate, reopened this week after a £864,000 renovation. Most of the museum’s 1,000-piece collection has also been recovered from looters and is back on display.

The museum ...

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24 Sep 2016

EU wheat drifts lower despite India, Egypt demand hopes

European wheat futures edged lower on Friday, pressured by earlier weakness in Chicago as hefty global supplies continued to hang over the market despite hopes of renewed import demand from India and Egypt.

...

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24 Sep 2016

Italy’s Eni upgrades potential of gas field Baltim South West in Egypt

Italian oil and gas company Eni has upgraded the field potential of Baltim South West to 1 trillion cubic feet (Tcf) of gas in place.

The announcement regarding the potential of the field has been made following"...

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24 Sep 2016

FM specifies terms for return of British flights to Egypt

Egyptian Foreign Minister Sameh Shoukry stressed to his British counterpart Boris Johnson the importance of setting clear terms for the return of British flights to Egypt. Shoukry spoke with Johnson on the sidelines of the UN General Assembly's meetings, held in New York, insisting that the terms should not be left vague, since a more clear and concrete arrangement...

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24 Sep 2016

Egypt’s Sisi: Globalization Yields ‘Poverty, Inequality, and Undermining of the Social Contract’

Egyptian President Abdel Fattah al-Sisi’s address to the United Nations General Assembly was focused on economic issues, with a surprisingly strong critique of globalism.

Sisi argued that “developing countries are not afforded a sufficient opportunity to achieve sustainable development;"...

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24 Sep 2016

Egypt purchased sunflower and soybean oil via tender

Egyptian state trading company Food Industries Holding Company (FIHC) purchased sunflower and soybean oil via tender, held on September, 22 2016.

Thus, 20 KMT of sunflower oil were purchased from Noble at USD"...

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24 Sep 2016

The CBE’s strategy to encircle imports failed to save dollars

Eight months has passed since the government adopted its strategy to rationalise imports in collaboration with the Central Bank of Egypt (CBE). This strategy aims to control the foreign currency shortage in the market and face the rising price of the US dollar in the informal market. However, this has all been in vain. The exchange rate of the dollar rose to...

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24 Sep 2016

Government able to achieve targeted budget deficit: El-Garhy

Minister of Finance Amr El-Garhy said that the targeted budget deficit of the current fiscal year is hard to achieve, but that the government will exert its utmost efforts to reach it.

The government aims to decrease"...

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24 Sep 2016

Egypt could offer 4G licences to international buyers after rejection by incumbent cellcos

Egyptian authorities are expected to consider offering 4G licences to international companies via auction, after all three of the nation’s existing cellcos opted not to take up the concessions. According to Reuters, Vodafone Egypt, Orange Egypt and Etisalat Misr opted not to take up"...

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24 Sep 2016

Kazakhstan, Egypt discuss enhancing inter-parliamentary relations

In Cairo, Speaker of the House of Representatives of Egypt Ali Abdel Aal has received the Ambassador of Kazakhstan to Egypt Berik Aryn. The two discussed enhancing inter-parliamentary relations between Kazakhstan and Egypt, the Kazakh foreign ministry said in a release.

During"...

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