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03 Jul 2017

Private industrial sector accounted for 62.4% of credit facilities granted by banks to non-government economic sectors at the end of March 2017: CBE

The private industrial sector accounted for 62.4% of the total credit facilities granted by banks to the non-governmental economic sectors at the end of March 2017, according to the Central Bank of Egypt (CBE).

In"...

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03 Jul 2017

Fuel prices increase construction costs by 15%

Despite the high prices of real estate, especially after the liberalisation of the exchange rate, there has been great movement of buying and selling in the housing units. While experts and real estate developers stressed the negative repercussions of the decision of the cabinet to raise"...

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03 Jul 2017

Egypt attracts $9.8 bln foreign investment in debt instruments in 2016/17

Egypt attracted almost a nine-fold increase in foreign investment in domestic debt instruments in the 2016-2017 fiscal year, the finance ministry said on Sunday.

Appetite for Egypt's domestic debt has increased since the central bank floated the currency in November as part"...

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03 Jul 2017

PM: Government takes right decisions just for sake of State, citizens

Prime Minister Sherif Ismail said on Saturday 1/7/2017 the government is taking right decisions for the benefit of the State and the citizens.

At a meeting with the ministers of housing, social solidarity, military"...

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03 Jul 2017

Russia to start free trade zone with Egypt

The Russian Ministry of Economic Development plans to start free trade zone (FTZ) negotiations with Egypt, according to Deputy Minister Alexei Gruzdev.

'Regarding India and Egypt, I think we will start talks this"...

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03 Jul 2017

Kabil: Egyptian-Hungarian business forum to be held during Sisi's visit

An Egyptian-Hungarian business forum will be held during President Abdel Fattah El Sisi's anticipated visit to Budapest next week, Minister of Trade and Industry Tarek Kabil said in a statement Friday 30/06/2017.

The forum will be attended by Egyptian and Hungarian companies,"...

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03 Jul 2017

Foreigners Scoop Up Egyptian Treasury Bills as Yields Rise

Egypt sold more Treasury bills than it targeted on Sunday, as rising yields spurred demand from foreign investors.

Overseas buyers scooped up about 8.5 billion pounds ($470 million) of 6-month and 12-month notes,"...

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03 Jul 2017

Sheraton reopens landmark Cairo hotel

Sheraton Hotels & Resorts, part of Marriott International, today announced the reopening of the iconic Sheraton Cairo Hotel & Casino, a city landmark for more than four decades.

A highly anticipated reopening, the hotel emerges after extensive renovation to reveal a distinct"...

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03 Jul 2017

Disney lifts ban on merchandise manufactured in Egypt: Minister

The Disney company is lifting a ban on having its merchandise manufactured in Egypt, trade minister Tarik Kabil announced on Sunday.

Disney instituted the ban in February after a drop in Egypt's ratings in the"...

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03 Jul 2017

Egypt's prime minister to represent country at African Union leaders summit

Prime Minister Sherif Ismail will head Egypt's delegation at the 29th African Union Heads of State Summit – which will start on Monday in Addis Ababa – on behalf of President-Abdel Fattah El-Sisi, Al-Ahram Arabic website reported.

El-Sisi"...

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