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05 Mar 2017

Egyptair and Etihad in codeshare partnership

ETIHAD Airways, the national airline of the United Arab Emirates (UAE), and Egyptair, the flag carrier of Egypt, have announced a new codeshare partnership introduced in phases starting March 1, 2017.

Under the initial"...

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05 Mar 2017

2017 poised to tough for Egyptian consumers: Arqaam Capital

The Central Bank of Egypt’s (CBE) decision to float the currency should improve the US dollar availability and relieve producers from resorting to the parallel market. Yet, from a corporate perspective it will cause an inflation hike, since 60% of the cost of goods sold across the sector are USD-denominated. A number of consumer names in Egypt are net...

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05 Mar 2017

Nestlé Egypt to invade Africa

Nestlé Egypt aims to invade the markets of Africa this year and expand in its existing markets in the Arab countries and the Gulf area to benefit from the weakness of the Egyptian pound.

Nestlé Egypt CEO and chairperson Yasser Abdul Malak said that the company aims to boost"...

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05 Mar 2017

Sakr Group targets to increase exports to $30m in 2017

Sakr Group for Food Industries targets to increase its exports this year by 66% compared to 2016.

The company’s chairperson, Ahmed Sakr, said that the company aims to reach $30m of exports in 2017 through its expansion in some of the new markets, along with regaining markets that stopped"...

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05 Mar 2017

Russia to Facilitate Drafting EAEU-Egypt Free Trade Agreement

Russia will seek to greatly facilitate the drafting of a free trade agreement between the Russia-led Eurasian Economic Union (EAEU) and Egypt, Russian upper house speaker Valentina Matvienko said Saturday.

CAIRO (Sputnik) — Matvienko came to Cairo earlier in the day for talks with top"...

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05 Mar 2017

Siemens inaugurates mega project in Egypt

German Chancellor Angela Merkel and Egyptian President Abdel Fattah El-Sisi inaugurated the first phase of Siemens’ mega project in Egypt.

The event marks an important milestone towards the completion of the project, which will boost the country’s power generation capacity by 45 per cent when finished.

Together with its local partners,...

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05 Mar 2017

Dubai’s Majid Al Futtaim sees Mall of Egypt cost recovery in 9 years

Dubai-based mall operator Majid Al Futtaim’s chief executive Alain Bejjani says he expects cost recovery for its latest flagship Mall of Egypt between 8 and 9 years.

Mall of Egypt represents a total investment"...

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05 Mar 2017

Egypt oil minister flies to Canada for World's largest mineral event PDAC

Egyptian Minister of Petroleum Tarek el-Molla flew to Toronto on Saturday to attend the world’s leading mineral exploration and mining event -- the PDAC Convention.

PDAC International Convention, Trade Show,"...

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05 Mar 2017

World Bank delegation to visit Egypt in first half of March – minister

A senior delegation of the World Bank Group will be visiting Egypt in the first half of March to hear more about reform policies undertaken by the government to revive the Egyptian economy, Egypt's Minister of International Cooperation Sahar Nasr said on Wednesday.

In"...

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05 Mar 2017

Merkel’s visit to Egypt: Immigration deal trumps human rights

Angela Merkel has met with the Egyptian president in an attempt to cut a deal to curb the flow of migrants from Africa into Fortress Europe, offering a package of 'sweetners' to Abdel Fattah al-Sisi and ignoring his regime's human rights abuses.

The"......

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