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06 Apr 2017

Egypt to offer tax breaks to entice overseas investment - official

Egypt plans to offer tax cuts on certain industrial sectors, as an incentive to encourage investment in its struggling economy.

Import-dependent Egypt has battled to attract hard currency and revive its economy since a 2011 popular uprising drove tourists and investors away.

Over the last three years President Abdel Fattah Al Sisi’s government...

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06 Apr 2017

Egypt\'s ARDIC to deliver $66mln housing project in 2020

Egypt’s ARDIC for Real Estate Development Company has started implementing construction works in Zizinia El Mostakbal project in the Future City with investment worth 1.2 billion Egyptian pounds, an official said Monday.Ashraf Dowidar, ARDIC’s managing director, further added that the company will deliver the project within 2020, which includes 1,807 housing units. Dowidar stated that his company is the first to execute additional projects in Future City.“We are committed to the timetable set for delivery of the project’s......

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06 Apr 2017

Schneider Electric, ITIDA to build engineering lab in Egyptian tech park

The Egyptian Ministry of Communications’ Information Technology Industry Development Agency (ITIDA) signed Tuesday a preliminary agreement with French industrial group Schneider Electric to establish and equip an engineering laboratory at the Borg El Arab technological park.According to the MoU, Schneider Electric will establish an engineering lab equipped with a 3D universal simulator for design of multi-axis motion machines. ITIDA will be responsible for organising training programmes for university students at the innovation......

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06 Apr 2017

What Egypt and America can do together – PM

A new U.S. administration naturally offers an opportunity for America's allies around the world to consider the past and find new ways to a more secure and prosperous world, Egyptian Prime Minister Sherif Ismail wrote in an opinion article published"...

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06 Apr 2017

Egypt\'s fish have better standing abroad than foreign equivalents

The Egyptian fish attract far higher demand abroad, as the Egyptian exports have reached 16,000 tonne up till now of this year up from 35,000 tonne last year.

" Prices of Egypt's fish reach EUR8-12 up from prices set for Turkish, Greek and Italian types at EUR6 only," said a Ministry of Agriculture official"...

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06 Apr 2017

Cement prices fell by LE65 in bid to boost sales

Cement prices declined today, as agents said that manufacturers are introducing price cuts ranging from EGP40 to EGP65 after prices of steel reinforcing bars, known as rebar, declined two days ago by EGP300 per tonne to EGP9600.

Al-Mal newspaper quoted agents as saying that cement prices reached EGP680 - EGP755"...

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06 Apr 2017

3rd TEDx Cairo University starts receiving speakers’ ideas

The TEDx Cairo University team began receiving topic ideas from candidate speakers for the third annual event due to be held in August.

The team will continue receiving these ideas until 29 April, according to Yousra Hussein, head of public relations of TEDx Cairo University. She added that"...

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06 Apr 2017

Cityscape Egypt 2017 ends on a high note amid attractive offers

The 6th edition of Cityscape, the biggest real estate show in Egypt, had recently concluded proving that the market is booming year after year. The show witnessed variety of projects by the companies and drew record-breaking number of visitors who capitalized on attractive payment offers"...

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06 Apr 2017

Chinese textile sector investors invest in Egypt

Investors from the Chinese textile industry have committed to investing in Egypt's Suez Canal Economic Zone (SCZone). This was announced by Ahmed Darwish, head of the Suez Canal Economic Zone (SCZone) at the Belt and Road Industrial and Commercial Conference. Among the many Chinese investors is Jushi, a major Chinese producer of fibre glass."The Belt and Road initiative is an effort to revive the ancient trade route known as the Silk Road and in the process, connect China and countries in Asia, Africa and Europe and is a pet project of Chinese premier Xi Jinping," a Chinese news agency reported.The first round of the annual Belt and Road Industrial......

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06 Apr 2017

Statement by IMF Managing Director Christine Lagarde on Egypt

Following a meeting with Egypt’s President Abdel Fattah El Sisi in Washington today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement:

“President"...

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