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31 Mar 2014

Government aiming to double trade at maritime ports: Transport ministry


Minister of Transportation Ibrahim El-Demeiry announced late Saturday that the ministry is aiming to increase the volume of trade at Egyptian maritime ports to 270 tons per year.


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31 Mar 2014

Sisi mocked in Egypt internet campaign

Presidential hopeful subject of sarcastic "vote for the pimp" movement on social media, leading to calls for a ban.


Opponents of Abdel Fattah al-Sisi have launched an internet campaign against his bid to"...

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31 Mar 2014

Egypt energy subsidy bill set to rise by 10-12 pct next year

Egypt’s Finance Minister said Sunday spending on energy subsidies next year would be 10-12 percent above the 130 billion Egyptian pounds ($18.66 billion) budgeted for the current fiscal year, unless immediate reforms were made. Successive governments have stressed the importance of"...

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31 Mar 2014

Thank you, Gulf money: Egypt balance of payments records largest surplus in 17 years

Egypt’s balance of payments (BOP) recorded its largest surplus in 17 years during the first three months of the current fiscal year.


The financial bulletin in March, issued by the finance ministry, showed that the record BOP surplus was derived mainly"......

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31 Mar 2014

Number of tourists visiting Egypt drops 27 percent in February 2014

The total number of tourist arrivals to Egypt dropped 27 percent in February 2014 compared to the same month last year, the Finance Ministry reported on Thursday. The report indicated that a total of 617,000 tourists visited Egypt in February 2014, down from the 845,000 who visited the year before, adding that the number of tourists arrivals down 4.1 percent...

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31 Mar 2014

India To Hold Mega Cultural Festival In Egypt

India, unfazed by political unrest in Egypt, will launch the second edition of a mega cultural extravaganza in the country from April 1 to 20.

The 'India by the Nile' festival includes a Bollywood musical to showcase vibrant bilateral ties between both countries, Press Trust of India (PTI) reported.

"A festival like this demonstrates India...

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31 Mar 2014

Arabtec in talks for new Egypt JV

Dubai-based engineering and construction group Arabtec is in discussion with the Egyptian government to set up a new joint real estate company for the development of the previously announced one million residential units in the country, said a report. The"...

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31 Mar 2014

Egypt denies Malaysian delegation entry to Gaza

Egyptian authorities on Sunday denied entry to a Malaysian delegation seeking to enter the Gaza Strip through the Rafah crossing, Gaza government officials said.

Palestinian officials said eight solidarity activists from Malaysia attempted to cross through to Gaza four times, and that on the fourth time they were deported.

The officials denounced...

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31 Mar 2014

Faisal Islamic Bank to participate in CBE housing initiative


Faisal Islamic Bank will participate in the Central Bank of Egypt’s (CBE) mortgage finance initiative, the bank’s chairman, Mohammed bin Faisal bin Abdulaziz Al Saud, said Saturday.


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31 Mar 2014

TE expects mobile subscribers to approach 5m in the first year

Telecom Egypt (TE) forecasts have shown that, during the first year, its mobile services subscribers will approach 5 million, around 15% of the company’s household subscribers, Telecom Egypt’s General Manger for Investors Relations and Internal Reporting Mohamed Kamal told the Daily News Egypt. “We have around 7m households subscribing to our...

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