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27 Sep 2014

Siemens bags contract of thermal power plant in Egypt

Siemens has won a contract for supply, installation and commissioning of major electrical components for the East Delta Electricity Production Company's (EDEPC) Suez Thermal Power Plant in Egypt. Location of the oil-fired thermal power plant is at Suez on the north coast of the Gulf of Suez, on the Red Sea.

Under the contract, Siemens will have to supply...

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27 Sep 2014

Egypt records $1.5 billion surplus in balance of payments in 2013/2014

Egypt's balance of payments recorded an overall surplus of some US$1.5 billion in 2013/2014, against $237 million a year earlier, according to a statement by The Central Bank of Egypt (CBE). CBE said that the country’s current account deficit improved, registering only some $2.4 billion against some $6.4 billion a year earlier , while the capital and financial...

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27 Sep 2014

Industrial Construction in Egypt to 2018: Market Forecast - New Study Released

This report is the result of Timetric's extensive market research covering the industrial construction industry in Egypt. It contains detailed historic and forecast market value data for the industrial construction industry, including a breakdown of the data by construction activity (new construction, repair and maintenance, refurbishment and demolition). "Industrial...

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27 Sep 2014

Suez Canal certificates push up Hermes expectations for Egypt's budget deficit to 11.3%

EFG Hermes revises its budget fiscal deficit forecast to 11.3 percent of the country's GDP (compared to the previous 10.9 percent) in FY2014/15 and 10.9 percent (compared to the previous 10.4 percent) in FY2015/16, according to a report by Egypt's biggest investment bank on Tuesday. The reason behind the revision, as Mohamed Abu Basha, economist at EFG-Hermes...

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27 Sep 2014

Egypt's Sawiris still interested in Telecom Italia investment: Italiaonline

Egyptian tycoon Naguib Sawiris is "still interested" in investing in Telecom Italia, the head of a Sawiris-controlled Italian Internet company said on Friday.

"We have always been interested in Telecom. The interest is there and this is known," Italiaonline chairman Khaled Bishara"...

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27 Sep 2014

Through the Eyes of an Educator: Cairo, Egypt

The traveler in me craves adventure, the wanderer yearns for time to get lost and the educator in me longs for stimulating informal learning. Travel merges all of these ‘itches’ and as long as every once an awhile I get to run my toes through the sand, I’m quite satisfied. I think I’ve always been an educator. Camp counselor, swim instructor,...

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27 Sep 2014

UN review of Egypt's human rights record raises eyebrows

Saudi Arabia will be among a panel of three states heading a United Nations Human Rights Council (HRC) review of Egypt’s human rights situation on 5 November.


The review will be conducted through a procedure known as the Universal Periodic Review (UPR), a tool which the UNHRC uses to ......

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27 Sep 2014

Egypt launches agency to support African development

Any views expressed in this article are those of the author and not of Thomson Reuters Foundation.


Egypt has launched an agency to focus on supporting major development projects in African countries and in other developing nations with which it has friendly relations."......

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27 Sep 2014

Eni awarded 3 new exploration licenses in Egypt

Italian oil major Eni said on Thursday it had been awarded three new exploration licenses in Egypt as it grows its footprint in Africa. State-controlled Eni said in a statement it had been the successful bidder for the licenses, adding they would be formally awarded soon. The major said it had been awarded a 100 percent interest and operatorship of the onshore...

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27 Sep 2014

Saudi oil aid to Egypt hits $5bn

Saudi Arabia sent Egypt $3 billion worth of refined oil products from April up to the first week of this month, an official from Egypt's state oil company told Reuters on Thursday.

The EGPC official said the total value of oil aid to Egypt from Saudi Arabia since July 2013 through"...

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