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18 Sep 2016

CBE expected to increase interest rate by 1% on Thursday

The Monetary Policy Committee affiliated with the Central Bank of Egypt (CBE) will hold its regular sixth meeting of the year on Thursday to discuss the future of basic yield in the CBE, which is the leading indicator for the direction of interest rates on the Egyptian pound in the local market.

It"...

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18 Sep 2016

Egypt Freezes Assets of Several Human Rights Advocates

An Egyptian court dealt a heavy blow to the country’s human rights activists on Saturday by freezing the assets of five prominent human rights defenders and three nongovernmental organizations.

The freeze is"...

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18 Sep 2016

TNT traces reportedly found in debris of downed EgyptAir flight MS804: Le Figaro

The French investigation team assigned to detect reasons behind the crash of EgyptAir flight MS804 claimed it has found traces of TNT (trinitrotoluene) in the aeroplane’s debris.

Following the discovery of TNT, the Egyptian investigation team prohibited its French counterparts from"...

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18 Sep 2016

Muslims for Progressive Values: Promoting Progressive Islam in Modern Societies

In an effort to fight injustice, stress on freedom of expression and provide an inclusive tolerant understanding of Islam among current Muslim communities that have strayed from true Islamic values, Muslims for Progressive Values (MPV) is a group spreading values based on “progressive”"...

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18 Sep 2016

Egypt freezes assets of leading rights campaigners

An Egyptian court on Saturday upheld a decision to freeze the assets of several prominent human rights campaigners in the latest blow to a once-vibrant activist community that has been largely silenced by a government crackdown.

The"...

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18 Sep 2016

Grundfos Roams the Streets of the UAE with Sustainability

In line with its continuous efforts to promote sustainability and energy savings; Grundfos, the award-winning world leader in advanced pump solutions, has decided to brand their company cars with the slogan ‘Grundfos, Build on Sustainability’ promoting one of their core values.

...

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17 Sep 2016

FLSmidth wins new operation and maintenance contract in Egypt

FLSmidth has signed another contract with Wadi El Nile Cement Company (WNCC) for operation and maintenance of their cement plant located approximately 120 km south of the Egyptian capital, Cairo. The contract is a five-year continuation of the existing contract signed back in 2010.

...

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17 Sep 2016

KLM to suspend flights to and from Egypt citing economic reasons

Royal Dutch airline KLM has announced it is temporarily suspending flights to and from Cairo from early next year in what it attributes to economic reasons.

According to a statement from the airline, the devaluation"...

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17 Sep 2016

Egypt's foreign currency problems sees KLM suspend flights to Cairo

KLM Royal Dutch Airlines will suspend flights to Cairo beginning in January as a result of Egypt's foreign currency problems, the company said in a statement on Wednesday.

Egypt is facing an acute dollar shortage"...

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17 Sep 2016

UPDATE 2-Wheat suppliers shun Egypt as more grain rejected abroad

Egypt was unable to garner a single offer from wheat suppliers at its state grain tender on Friday, forcing it to cancel and raising renewed questions about its ability to tap global wheat markets while maintaining a ban on ergot fungus.

Friday's cancelation comes amid a flurry of cargoes either rejected or held from export since Egypt reinstated a zero...

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