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03 Aug 2017

Egypt’s Qalaa says Kenya courts end Rift Valley Railways concession contract

Egypt’s Qalaa Holdings said Wednesday that Kenyan courts ordered to terminate its 25-year concession contract with its subsidiary Rift Valley Railway (RVR).

Under an agreement signed in 2006, Rift Valley Railways"...

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03 Aug 2017

Egypt Rushes Maritime Negotiations, Making Way For Offshore Discoveries

Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea.

The country has initiated talks with Greece to draw the maritime border, according to local"...

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03 Aug 2017

Africa to meet in Egypt to discuss future business relations

The Ministry of Investment and International Cooperation of Egypt and COMESA Regional Investment Agency announced today the holding of Africa 2017 (www.BusinessForAfricaForum.com), a high-level forum offering participants"...

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03 Aug 2017

European Commission to investigate ferrosilicon imports from Egypt, Ukraine

The European Commission said Wednesday it had opened an anti-dumping investigation into ferrosilicon imports originating from Egypt and Ukraine. It said a complaint was lodged on June 19, 2017 by Euroalliages on behalf of four European producers -- Ferropem, Ferroatlantica SL, OFZ and Huta Laziska SA -- which between them account for more than 90% of European FeSi production. The investigation will cover July 1, 2016 to June 30, 2017. 'The investigation will determine whether the product under investigation originating in the countries......

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03 Aug 2017

‘Live export trade to Egypt moves a step closer to resuming’

The veterinary certificate negotiated by the Department of Agriculture, Food and the Marine for fattening cattle for live export to Egypt is good news for the livestock sector.

This is according to the Irish Farmers’"...

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03 Aug 2017

Egypt raises drinking water and sewage charges by up to 50%

Egyptian President Abdel Fattah al-Sisi signed off on Wednesday on measures to raise drinking water and sewage fees as much as 50 percent. Egypt introduced sweeping economic reforms last year as part of a three-year, $12 billion International Monetary Fund loan programme, floating its currency and cutting subsidies to attract foreign investment that fled after a 2011 uprising. Last month, the government raised electricity prices by up to 42 percent this fiscal year for households. Also in July, it raised fuel prices by up to 50 percent......

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03 Aug 2017

Egypt's non-oil business activity contracts, new orders stabilise -PMI

Egypt's non-oil private sector business activity continued deteriorating in July, but the contraction in output slowed and new orders stabilised after months of decline, a survey showed on Thursday.

The Emirates NBD Egypt Purchasing Managers' Index (PMI) for the non-oil"...

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03 Aug 2017

Poultry traders referred to prosecution for harming breeders

Combating Unfair Competition and Monopoly Agency decided to refer several white chicken traders to the Public Prosecution over charges accusing them of harming breeders through colluding among themselves to impose unfair prices on them.

In a statement issued today, CUCMA said"...

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03 Aug 2017

Egypt to reel from surging foreign debt liabilities next year: Prime Holding

Prime Holding said that the Egyptian economy may reel early FY2018/2019 from surging liabilities of medium to long-term loans amounting to USD12.7bn unless the Egyptian government manages to repay such liabilities when they become due.

Foreign debts rose by 41.2% of GDP to USD73.88bn"...

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03 Aug 2017

Raya considers manufacturing washing machines

Raya Trading and is considering the manufacture of automatic washing machines in the domestic market for a Korean brand in early 2018.

Raya’s Chairman, Bassem Mujahid said that his company is currently preparing"...

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