Egypt Independent: Economy-Main news http://www.egyptindependent.com//enhome_channel/Economy/rss.xml en Egypt's stock market loses LE12.1 billion on Monday http://www.egyptindependent.com//node/2440414 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2013/12/26/484151/lbwrs_tswyr_mhmwd_bd_lgn_5.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p><span style="font-size: 1em; line-height: 1.5em;">The Egyptian stock exchange fell as its main index EGX30 dipped 1.27 percent to 9,156.68 points in a total turnover of LE681 million.</span></p><p>The broader index EGX70 was down 2.2 percent, and EGX100 lost 1.6 percent.</p><p>Foreign institutions were net buyers, recording a net flow of LE21.02 million as opposed to local and Arab institutions that closed as net sellers, recording net flows of LE15.31 million and LE6.25 million respectively.&nbsp;</p><p>Meanwhile, Arab retail investors closed as net sellers recording a net flow of LE28.21million.</p><p>EGX market capital gained LE12.1 billion (US$1.7 billion) to hit LE513.3 &nbsp;billion compared to LE&nbsp;525.4billion on Sunday.</p> Mon, 24 Nov 2014 15:45:00 +0000 Egypt Independent 2440414 at http://www.egyptindependent.com sites/default/files/photo/2013/12/26/484151/lbwrs_tswyr_mhmwd_bd_lgn_5.jpg Minister stresses priority of investment legislation http://www.egyptindependent.com//node/2440401 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/09/12/484151/247312_0.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div>The legislative reform committee has put investment legislation at the&nbsp;top of its priorities, by instruction from President Abdel Fattah al-Sisi and Prime Minister Ibrahim Mehleb, in order to improve investment incentives, ease laws and facilitate the establishment of new companies, according to&nbsp;Interim Justice Minister Mohamed al-Heneidy.</div><div>&nbsp;</div><div>During the Arab investors conference, Heneidy stressed that attraction of investment requires creating a suitable atmosphere, indicating the presence of committees supported by researchers in the field of investment.</div><div>&nbsp;</div><div>He also called for submitting proposals to the committee as well as problems to resolve it. The minister expressed optimism over success of the conference as well as the recommendations reached.</div><div>&nbsp;</div><div>Hesham Ragab, vice-chief of the economic sub-committee under the legislative reform committee, stressed the necessity to draft legislation that achieves its goals.</div><div>&nbsp;</div><div>He added that the law on mines was submitted to cabinet after consensus on it among Federation of Egyptian Industries and officials in charge of it. However, the government demanded withdrawal of the draft law in response to notes by the business sector, he said.</div><div>&nbsp;</div><div>&nbsp;</div><div><em>Edited translation from Al-Masry Al-Youm</em></div><div>&nbsp;</div> Mon, 24 Nov 2014 14:32:00 +0000 Al-Masry Al-Youm 2440401 at http://www.egyptindependent.com sites/default/files/photo/2014/09/12/484151/247312_0.jpg UAE offers Egypt $200m to fund micro enterprises http://www.egyptindependent.com//node/2440406 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/05/05/484151/192461_0.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Prime Minister Ibrahim Mahlab and UAE Minister of State Sultan Ahmed Al-Jaber, attended the signing ceremony of a $200-million deal for funding micro enterprises.<br /><br />The money will be provided through the Khalifa Fund for Enterprise Development and the planned projects will be carried out by the Egyptian Social Fund for Development.<br /><br />The deal mainly aims at creating new job opportunities especially in villages.<br /><br />Mahlab praised the UAE&#39;s support for Egypt in all fields, describing ties binding both countries as distinguished.</p><p>&nbsp;</p> Mon, 24 Nov 2014 13:45:00 +0000 MENA 2440406 at http://www.egyptindependent.com sites/default/files/photo/2014/05/05/484151/192461_0.jpg Minister: 66 hotels meet criteria of green tourism in Egypt http://www.egyptindependent.com//node/2440398 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/11/13/499612/british_tourism_in_luxor.png" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Minister of Tourism Hisham Zaazou said on Sunday that Green Tourism is no longer a luxury, but a pressing must.</p><p>In his speech during the inauguration of a workshop on green tourism, Zaazou said the Finance Ministry has approved allocating one billion pounds for financing green tourism projects.</p><p>He added that Egypt has about 66 hotels that meet the criteria of green tourism.</p> Mon, 24 Nov 2014 12:03:00 +0000 MENA 2440398 at http://www.egyptindependent.com sites/default/files/photo/2014/11/13/499612/british_tourism_in_luxor.png