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26 Dec 2016

Egypt government has reached solution to medicine shortage crisis: PM

Egypt's Prime Minister Sherif Ismail said on Sunday that the government has “reached a solution” that works towards ending an ongoing medicine shortage in the country, without providing further details, state news agency MENA reported.

Ismail said that the solution is in coordination"...

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26 Dec 2016

Egypt oil ministry signed 8 deals worth $709 mln to find energy reserves in 2015/16

Egypt's petroleum ministry said it signed in 2015/16 eight agreements with six international and local companies to search for oil and gas reserves in the Mediterranean, the Western Desert, the Gulf of Suez and Upper Egypt, with total investments worth $709 million.

The ministry said in"...

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26 Dec 2016

Chinese imports to Egypt hit $2.6bn in 8 months

Egypt's imports from China rose by 0.4 percent in January-August 2016, representing 13.4 percent of state's total imports.

The total volume of Chinese imports recorded 49.7 billion Egyptian pounds (US$2.6 billion)"...

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26 Dec 2016

Egypt negotiating $300 million financing packages from AfDB

Egypt is negotiating financing packages worth $300 million from the African Development Bank (AfDB) to be signed in the first half of 2017, the bank said Sunday.

Samy Saad Zaghloul, Egypt's Executive Director at"...

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26 Dec 2016

Egypt’s Al Fanar Construction to execute construction works in Hacienda Bay

Egypt’s Al Fanar Contracting, Construction, Trade, Import, and Export Company (FNAR) has signed Sunday a contract with United Engineering for Constructions Company (UECC) to implement contraction works in Hacienda Bay North Coast.

Hacienda"...

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26 Dec 2016

FEDCOC, ITIDA launch initiative to link international and local companies

The General Division of Computer and Software at Federation of Egyptian Chamber of Commerce (FEDCOC) launched the “Tawteen” initiative in cooperation with the Information Technology Industry Development Agency (ITIDA).

According to Khalil Hassan Khalil, board member of FEDCOC"...

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26 Dec 2016

Knesset summons Egypt’s ambassador to Israel over UN resolution: Israeli media

Egypt’s ambassador to Israel Hazem Khairat was reportedly summoned by the Israeli foreign ministry among other ambassadors whose countries had supported the UN resolution condemning Israel’s settlement project in Palestine, several Israeli media outlets said on Sunday afternoon.

...

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26 Dec 2016

United Bank increases number of branches in Egypt to 51

United Bank-Egypt increased the number of its branches to 51, after last week’s inauguration of its latest branch in Fifth Settlement in New Cairo.

According to the bank’s chairperson, Ashraf Elkady, the expansion policy of the bank is based on an integrated plan to expand carefully"...

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26 Dec 2016

Egypt gets boost from inflow of loans

A string of loans recently secured by the Egyptian government are providing a badly needed fillip for the country’s struggling economy, experts have said.

The government on Thursday signed a $1 billion (Dh3.67 billion) loan agreement with the World Bank, officially dubbed the Second Consolidation Sustainable Energy and Competitiveness Programmatic"......

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26 Dec 2016

Egyptian-owned ride-hailing service Taxi Plus to launch next week

The Egyptian-owned Taxi Plus company has said that it will hold a press conference on Sunday to officially announce the launch of its cab-hailing service to Egyptians, Ahram Arabic website reported on Thursday.

Unlike"...

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