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21 Aug 2016

New Egyptian plan would expand churches' rights

There is a sentiment of cautious optimism developing among Christians in Egypt, where the construction and repair of church buildings have been severely restricted for centuries, according to Joseph Farah’s G2 Bulletin.

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21 Aug 2016

BPE Partners awaits EFSA approval of fair value report within two weeks

Hazem Barakat, chairperson of BPE Partners for Financial Investment—formerly Beltone Capital—said that his company is looking forward to obtaining the Egyptian Financial Supervisory Authority’s (EFSA) approval for the fair value report of the company’s shares within"...

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21 Aug 2016

Target Supplier Welspun Opens Probe Into Cheap-Sheets Allegation

Welspun India Ltd. will appoint an external auditor to investigate after Target Corp. severed ties with the textile manufacturer, which the retailer said had passed off cheaper cotton sheets as premium Egyptian cotton for two years.

Target"...

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21 Aug 2016

Egyptians preparing for a new era of austerity

A few years ago, Imad would not have imagined himself queuing in the Cairo sun for a weekly ration of subsidised baby milk. But rising prices mean his civil servant’s salary barely lasts the month and the government is tightening its belt further.

"Electricity is up, food is up. The only thing that doesn't rise in Egypt is people's pay yet all they...

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21 Aug 2016

Egypt plan to boost natural gas production

Thirteen development projects are under way in Egypt, in order to gradually increase natural gas production to between 5.5 and 6 billion cubic feet per day, according to the minister of petroleum Tarek El Molla.

Investments"...

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20 Aug 2016

Egypt closed 53 forex bureaus since beginning of year - CBE

A total of 53 foreign exchange bureaus have been closed since the start of the year, deputy governor at the Central Bank of Egypt (CBE) Gamal Negm said on Friday.


The CBE has accelerated a crackdown against black market traders, closing a large number of the countries’ foreign exchange offices, which it blames"......

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20 Aug 2016

Tanzania: Egypt Vows to Sustain Medical Cooperation

The Egyptian government has expressed its keenness to continue supporting Tanzania's health sector through enhancement of medical cooperation between the two countries.


Ambassador"...

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20 Aug 2016

Under the Radar: Egypt’s media crackdown threatens 4G launch

Egypt is facing serious economic headwinds, with instability and inflation eroding any gains. A 3.8% growth rate is modest by Egyptian standards, yet with 14% inflation the country is sliding further backwards. To make matters worse, the government has announced"...

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20 Aug 2016

News Analysis: Egypt keen to revive economy along with tough reforms

The Egyptian economy is hopeful and likely to rise after the 12-billion-USD initial loan deal with the International Monetary Fund (IMF) despite the expected tough economic reforms that will include subsidy cuts and extra tax, said Egyptian economic experts.


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20 Aug 2016

Drinking Alcohol Is Always an Open Secret in Egypt

“Theoretically speaking, alcohol is not present in Egypt,” confessed Shaker Nawal, manager of Kouroum of the Nile, an Egyptian independent winery based in Cairo. “In practice, it is.”


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