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17 Aug 2016

Rimini Street Expands APAC Investment to South Korea and Appoints IT Industry Veteran to Lead New Operations

Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s (NYSE:SAP)......

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17 Aug 2016

Egypt to repay international bonds worth $3bn in December 2016: Finance Ministry

On 17 December, Egypt will repay international bonds worth $3bn, which were issued on 17 December 2013, according to the Ministry of Finance.

The ministry announced in a recent report, of which Daily News Egypt obtained a copy, that the return of these bonds is about 3.5%.


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17 Aug 2016

Visa hopes tourism will increase 35% globally by 2025

Visa Inc. released the results of its new study that forecasts a significant increase in international travel by households worldwide over the next decade. The study estimates that roughly 282 million households deemed “most likely to travel” will plan at least one international trip a year by 2025, up nearly 35% from 2015.

The"...

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17 Aug 2016

EGPC diesel reserves cover needs of domestic market for 5 days

The strategic diesel reserves in the Egyptian General Petroleum Corporation’s (EGPC) warehouses are enough to cover the domestic market’s needs for five days; furthermore, shipments will continue to arrive to Egyptian ports regularly, corporation chairperson Tarek El-Hadidi said.

He"...

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17 Aug 2016

Designs for new 33m sqm industrial city under preparation: Minister of Industry

Minister of Industry and Trade Tarek Kabil announced that a new manufacturing city is being designed, during a meeting Tuesday with Mohamed Farid Khamees, president of the Egyptian Federation of Investors Association, and other members.


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17 Aug 2016

Huawei increases product prices again by 4.5%

Huawei increased its smartphone product prices for the second month in a row last week, after the US dollar price increase against the Egyptian pound. According to the price list of August obtained by Daily News Egypt, the increase ratio varied between 4% and 4.5% last month.

According"...

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17 Aug 2016

Remittances from UAE to Egypt expected to remain robust

The World Bank has released figures showing that Egypt is the country that receives the highest amount of remittances in the MENA region. In 2015, the country received an estimated $19.7bn in remittances from around the world, of which $1.83bn"...

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17 Aug 2016

EFG-Hermes says AUMs fell to $2 billion in Q2

Egyptian investment bank, EFG-Hermes reported a 13.7 percent fall y-o-y in its assets under management (AUM) during the second quarter of the year, its chief executive announced Monday.

Karim Awad, CEO of EFG Hermes Holding, said the group's total AUMs had reached $2 billion by the end of second quarter of 2016.

EFG's total assets under management...

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17 Aug 2016

Ankara aims to improve commercial relations with Egypt

Customs and Trade Minister Bülent Tüfenkci said Ankara wants to improve commercial and economic relations with Egypt, with lifting sanctions being the first step.

Tüfenkci said Ankara wants to improve relations with neighboring and regional countries in accordance with the interests of the countries within the framework of good relations,...

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