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10 Jan 2015

Egypt on FDI Injections

After several meetings with different foreign investors to pump money into the Egyptian economy, Minister of Investment Ashraf Salman opened up several new investment projects, such as the second phase of the Suez Canal and various other opportunities.


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10 Jan 2015

Increase in weekly dollar sale behind fall in reserves -source

A source in Egypt's central bank said the decline in foreign currency reserves by the end of December by $549 million was due to the increased weekly dollar sales to 4 auctions, up from 3 auctions to control black market, daily AlMasry AlYoum newspaper reported.


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10 Jan 2015

Egypt signs six new oil and gas exploration deals

Egypt has signed six new oil and gas exploration contracts worth hundreds of millions of dollars with foreign and Egyptian companies, the oil ministry said on Friday.


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10 Jan 2015

Egypt's Suez Canal revenues rise 6.8% in 2014

Egypt's suez canal achieved $5.456 billion in revenues in 2014 compared to $5.111 billion in 2013, a 6.75 percent increase, reported state-owned news agency MENA on Thursday.


The"...

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10 Jan 2015

Egypt ponders quitting ICSU after another member exits

The International Council for Science (ICSU), the body that represents national and international science organisations, has been hit by the exit of one of its members and could now face another departure.

On 1 January, the International Union of Biochemistry and Molecular Biology (IUBMB) cancelled its membership of the council. Now SciDev.Net has learned...

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10 Jan 2015

Government begins accelerating implementation of National Roads Project: Cabinet

The government has begun to remove all obstacles impeding implementation of the National Roads Project to begin expropriating for the public benefit, according to Prime Minister Mehleb. This will provide adequate compensation and expedited customs procedures to release the equipment necessary"...

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10 Jan 2015

Housing ministry to build 30,000 units in 8 new cities

The Ministry of Housing will build approximately 3,000 middle-income housing units instead of 12,000 in the first stage of the Dar Masr housing project in 6th of October City.


The"...

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10 Jan 2015

Circle Oil receives US$15mln payment from Egypt

Circle Oil (LON:COP) has received a US$15mln payment from the Egyptian authorities for past oil sales.


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10 Jan 2015

Emirates NBD Egypt organizes a high-level visit in support of the new Suez Canal Project

In keeping with its commitment to the support of national projects and the Egyptian economy, Emirates NBD Egypt paid today a high-level visit to the site of the new Suez Canal project for members of the bank’s management in Egypt and the UAE.


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10 Jan 2015

Egypt’s consumer inflation jumps on food costs

Food and housing costs pushed up Egypt’s annual consumer price inflation in December, the official statistics agency CAMPAS said, dampening expectations of an early interest rate cut.

Annual urban consumer inflation rose to 10.1 percent in December from 9.1 percent the previous month, after falling in November from a peak of 11.8 percent in October

“The...

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