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07 Aug 2016

Boom in diving tourism following instability in Egypt

Sources within the government have confirmed that in light of the instability in Egypt, a popular diving destination, there has been a surge in the number of tourists coming to Malta to dive.


In"...

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07 Aug 2016

Egypt trying to find its way back to regional glory in Middle East

In a televised speech, Egyptian President Abdel-Fattah al-Sisi, a general turned head of state, warned Egyptians that they lived in a broken country surrounded by enemies who would never leave them alone.


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07 Aug 2016

Egypt rules out IPO plans for state-run Cairo Oil Refining

Egyptian Ministry of Petroleum will neither float shares of Cairo Oil Refining Company nor any oil firms fully owned by the government on the stock market, the ministry’s spokesman said Saturday.


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07 Aug 2016

Kuwait Finance House shows interest in buying United Bank of Egypt: sources

Kuwait Finance House is interested in bidding for Egyptian central bank’s share in the United Bank, senior banking sources familiar with the matter told Amwal Al Ghad on Saturday.


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07 Aug 2016

Leading Russian grains firm eyes investing in Egypt's silos field

A leading Russian firm working in grains field eyes investing in Egypt through establishing and upgrading grain silos and granaries.


Firm's representative in Egypt, Magdy Shehata stated Saturday that the company has expertise in all fields related to storing grains since it seizes 70 percent of Russian grains market.

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07 Aug 2016

Egypt can create energy hub with Cyprus and Israel: Eni CEO

Egypt will be able to create a hub of energy with Israel and Cyprus, and even Libya in the future, Eni's CEO Claudio Descalzi told Bloomberg in an interview on Friday, regarding the recent Zohr field discovery in its exclusive economic zone (EEZ).


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07 Aug 2016

Egypt's real estate firm Alalmeya to develop $394mn project in New Cairo

Egypt-based property firm, El Alameya for Development & Real Estate Investment, is set to develop a residential project on the Egypt-Suez Road with total investments worth 3.5 billion Egyptian pounds ($394million), according to Chairman Karam Hamouda.

The new project will be located"...

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07 Aug 2016

Banque du Caire to remain under state control after increasing its capital by 20% on EGX: chairperson

The government will not lose control of Banque du Caire after increasing its capital by 20% by offering more shares of the bank on the Egyptian Exchange (EGX), said the bank’s CEO and Chairperson Mounir El Zahid.

The Central Bank of Egypt (CBE) had announced earlier this year"...

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07 Aug 2016

Japan outlines diplomatic relationship with Egypt

The Japanese government has released a diplomatic report on the various issues facing the country in the 21st century, which includes rising emerging countries like China, the increasing role of globalisation and terrorism, and the rise of a multipolarity world system. Given Egypt’s importance in the region, it is dubbed an important country contributing...

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07 Aug 2016

Egypt seeks to boost foreign direct investment

The government’s drive to boost foreign capital flows has moved forward with the launch of a new foreign direct investment (FDI) council, although there is still room for further improvements.


On"...

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