Egypt Independent: Economy-Main news http://www.egyptindependent.com//enhome_channel/Economy/rss.xml en Egypt equities loses LE15.6 billion in February http://www.egyptindependent.com//node/2445199 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2015/02/20/499612/cairo_stock.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Egypt&#39;s market main index EGX30&nbsp; incurred losses 5.2 percent &nbsp;in February, and market capital lost LE15.6 billion ( US$2.04 billion) &nbsp;to hit LE511.56 billion, the Egyptian Exchange data showed.</p><p>Meanwhile, the small and mid-cap index EGX70 and the broader index EGX100 declined &nbsp;by 3.2 percent and 2,7 percent respectively.<span style="font-size:9.0pt;font-family:Arial;color:#555555"> <o:p></o:p></span></p> Sat, 28 Feb 2015 10:39:00 +0000 Egypt Independent 2445199 at http://www.egyptindependent.com sites/default/files/photo/2015/02/20/499612/cairo_stock.jpg Finance, investment ministers review Egypt’s economic plan with EBRD president http://www.egyptindependent.com//node/2445178 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2015/02/12/1755/investment_minister_ashraf_salman.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Finance Minister Hani Qadri and Investment Minister Ashraf Salman held a meeting Thursday 26/02/2015 with President of European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti.</p><p>During the meeting, the ministers reviewed Egypt&#39;s economic plan and efforts exerted to put Egypt on top of the EBRD&#39;s list of the most attractive destinations for investments, Egyptian Ambassador in London Naser Kamel told MENA.</p><p>They also discussed measures adopted by the government in preparation for the parliamentary elections, Kamel said.</p><p>Also, Chakrabarti confirmed his participation in Egypt&#39;s economic summit planned to be held in March.</p><p>Meanwhile, Finance Minister Hany Qadry said Thursday that the Egyptian government is adamant to restore confidence in the national economy despite the difficulty of the target.</p><p>Addressing the Middle East Congress on its second day, organized by UK daily &quot;The Telegraph&quot;, Qadry said Egypt has huge economic capabilities but only 10% of them are so far in use.</p><p>The government is working on expanding the country&#39;s economic base through applying mega projects, such as the new Suez Canal project, to help promote the Egyptian economy over the coming decades, Qadry noted. He also touched on the government&#39;s measures to fight youth unemployment.</p><div>&nbsp;</div> Sat, 28 Feb 2015 07:22:00 +0000 MENA 2445178 at http://www.egyptindependent.com sites/default/files/photo/2015/02/12/1755/investment_minister_ashraf_salman.jpg China's trade minister to participate in Egypt's economic conference http://www.egyptindependent.com//node/2445172 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2012/03/31/12832/screen_shot_2012-03-31_at_1.04.44_pm.png" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div><div><p>China&#39;s trade minister will participate in Egypt&#39;s economic conference due in March, heading a delegation of official and private sector representatives,&nbsp;Chinese foreign minister said on Friday.</p><p>Egypt&#39;s Foreign Minister Sameh Shukri arrived in China earlier today; concluding asix-day tour to Tunisia, France, Russia, and China,&nbsp;in preparation for the summit.Russia and Saudi Arabia confirmed their participation on Wednesday&nbsp;in meetings with Shukri.</p><p>In the meeting with his Chinese Counterpart Wang Yi over bilateral relations and the Palestinian cause,&nbsp;Yi said&nbsp;that the&nbsp;exchange of visits&nbsp;between the leaders ofEgypt and China &quot;greatly contributes&nbsp;to the development of&nbsp;relations between thetwo countries.&quot;</p><p>President Abdel Fattah al-Sisi signed a Comprehensive Strategic Partnership Agreement with Chinese President&nbsp;Xi Jinping&nbsp;during a visit to China&nbsp;last December.</p><p>The&nbsp;two ministers also discussed&nbsp;the latest developments in&nbsp;Libya&nbsp;and the&nbsp;Arab efforts&nbsp;being made&nbsp;in&nbsp;the Security Council regarding the&nbsp;situation in the conflict-torn country.</p><p>Yi stressed China&#39;s support of&nbsp;the&nbsp;proposal presented at the Arab League earlier this month&nbsp;to establish a unified Arab force to confront terrorism.</p><p>Egypt is making endeavours to rally the international community behind backing a draft resolution at the United Nations Security Council to lift an arms embargo on the Libyan government.</p><p>&nbsp;</p></div><div>This content is from :<a href="http://en.aswatmasriya.com/" target="_blank">Aswat Masriya</a><div>&nbsp;</div><div>&nbsp;</div></div></div><p>&nbsp;</p> Fri, 27 Feb 2015 16:36:00 +0000 Aswat Masriya 2445172 at http://www.egyptindependent.com sites/default/files/photo/2012/03/31/12832/screen_shot_2012-03-31_at_1.04.44_pm.png Al-Futtaim Group to invest LE18 bn in Egypt over 5 years http://www.egyptindependent.com//node/2445164 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/11/25/484151/al-futtaim1.png" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div>The UAE Al-Futtaim Group, specialized in building malls and recreational facilities, has announced its long-term commitment to supporting Egypt by expanding its business with LE18 billion in investments over five years, offering more than 140,000 new direct and indirect jobs.</div><div>&nbsp;</div><div>CEO Alain Bejjani said Egypt is the most promising market in the region due to its diversity and great possibilities, adding that the company is expanding existing projects and building new ones, especially with the government now improving the investment climate to increase confidence in the Egyptian market.</div><div>&nbsp;</div><div>&nbsp;</div><div><em>Edited translation from Al-Masry Al-Youm</em></div><div>&nbsp;</div> Fri, 27 Feb 2015 15:22:00 +0000 Al-Masry Al-Youm 2445164 at http://www.egyptindependent.com sites/default/files/photo/2014/11/25/484151/al-futtaim1.png