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05 Nov 2016

EgyptAir to review ticket prices following currency float

EgyptAir will review the prices of its tickets next week in light of a decision by the Central Bank of Egypt to float the Egyptian pound on Thursday, Chairman of EgyptAir Holding Company Safwat Musallam said.

In"...

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05 Nov 2016

Report ranks Egypt with lowest respect for 'rule of law'

A US-based organization specializing in legal policy issues has ranked Egypt 110 out of 113 nations in its latest report on perceptions of how the rule of law is applied.

Egypt was ranked after Venezuela, Cambodia and Afghanistan in the ......

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05 Nov 2016

End of Sugar ‘Crisis’? Egypt Cancels Import Tariffs on Sugar to Boost Supplies

Egypt’s Ministry of Supply announced on Friday that it has taken steps to cancel tariffs on imported sugar in an attempt to boost supplies and lower the price of subsidized sugar.

The tariffs on imported refined"...

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05 Nov 2016

GSMA Welcomes First Launch of Universal Profile for Advanced Messaging

The GSMA welcomes today’s announcement by Google and mobile operator Sprint that Sprint has become first to partner with Google to deploy the ......

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05 Nov 2016

Schlumberger Announces Fourth-Quarter and Full-Year 2016 Results Conference Call

Schlumberger Limited (NYSE:SLB) will hold a conference call on January 20, 2017 to discuss the results for the fourth quarter and full year ending December 31, 2016.


The conference call is scheduled to begin at 7:30 am (US Central time), 8:30 am (US Eastern time) and 2:30 pm (Paris time). A press release regarding"......

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04 Nov 2016

Can Egypt's currency devaluation boost its economy?

Egypt's Central Bank governor says it's a turning point in the country's economy. Devaluing its currency is one of the requirements laid out by the International Monetary Fund (IMF), in order for Cairo to receive a $12bn loan.

The"...

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04 Nov 2016

Egypt ‘did not have luxury of postponing reforms’

Egyptian Prime Minister Sharif Ismail said the government did not have the luxury of postponing reforms, a day after the currency was devalued and fuel prices were raised.
Egypt floated the pound on Thursday amid a dollar crunch that threatened to grind imports to a halt, causing the pound to fall from 8.8"...

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04 Nov 2016

Egypt Inches Closer to IMF Bailout

In August the International Monetary Fund announced it had reached an agreement with the Egyptian government for a $12 billion bailout that would ideally kick-start some much-needed economic growth. The three-year lending program, aimed at"...

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04 Nov 2016

Medfilm Festival opens with Egypt's Yousry Nasrallah

The Medfilm Festival 2016 opens Friday evening at Rome's Cinema Savoy with 'Brooks, Meadows and Lovely Faces' (Al Ma' wal Khodra wal Wajh El Hassan), where Egyptian director Yousry Nasrallah will be on hand at the 20:00 screening.

At the weekend, the festival is placing a spotlight on Tunisia and Iran, starting on Saturday at 16:30 with five shorts,...

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04 Nov 2016

Egypt raises supply prices of basic crops to support farmers

Egypt’s government announced on Friday that it is raising the supply prices of some basic crops to support local farmers – including sugar cane, corn and wheat – one day after the country floated its currency and increased the price of subsidised fuel.

The government announced"...

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