Business

Fees to be imposed on fish exports: Trade Minister

23 Apr 2017
The decision over whether to impose fees on fish exports is still under consideration; the value of this fee will be based on analysis conducted by the Ministry of Trade and Industry, according to Minister Tareq Qabil. The...
Yes

EgyptAir to receive new Boeing aircraft in May

20 Apr 2017
EgyptAir will receive a third Boeing B737/800 NGs to join the company’s fleet at beginning of May. This addition will be the 22nd model of the same type in the fleet. The B737/800 NGs is almost six years old and is...
Yes

Worries over Trump policies cloud start of IMF, World Bank meetings

Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting October 10, 2012 (Kim Kyung-Hoon / Reuters).
20 Apr 2017
World finance leaders are gathering on US President Donald Trump's home turf on Thursday to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration. The...
Yes

1,741 new companies established in March: official report

20 Apr 2017
The General Authority for Investment and Free Zones announced that 1,741 new companies were established in March with a total investment of LE3.6 billion.   According to the GAIF's periodic report on new companies, 1,048 companies...
Yes

32 air-conditioned trains to be purchased for Metro first line, 6 others for second line at LE15.5 billion: minister

19 Apr 2017
Transportation Ministry will purchase 32 new air-conditioned trains for the Cairo Metro's first line (Marg-Helwan) at a cost of LE12.5 billion. “The 32 trains will be allocated to the first line of metro to join the recently-...
Yes

IMF lowers 2016-17 growth forecast for Egypt to 3.5 percent

19 Apr 2017
Egypt's economy will grow by 3.5 percent during the 2016-17 financial year, the International Monetary Fund said on Tuesday, lowering the 4 percent forecast it made in a report last year. The IMF last November agreed to provide Egypt...
Yes

US dollar stable after Easter holiday

FILE PHOTO US dollar notes are seen in this November 7, 2016 picture illustration (Dado Ruvic / Reuters Illustration / File Photo).
18 Apr 2017
The US dollar exchange rate has been stable during tradings on Tuesday. According the latest updates, the purchasing rate at Banque Misr and the National Bank of Egypt registered LE17.97, while the selling rate was LE18.05. At each Banque...
Yes

Norway to invest $500 million in solar feed-in tariff program in Egypt in October

© AFP/File / by Wissam Keyrouz | Falling oil prices hinder global efforts to develop renewable energy sources, experts warned on January 17 at a conference in Abu Dhabi
 
 
 
18 Apr 2017
The Norwegian company Scatec Solar will push $500 million worth of new investments into the Egyptian market in October, according to a statement issued by the International Cooperation Ministry after minister Sahar...
Yes

Egypt's economy growing at 3.9% in 2017, accelerating to 5.4% in 2019: World Bank

A man counts Egyptian pounds outside a bank in Cairo, Egypt October 24, 2016
18 Apr 2017
Egypt's economy is forecasted to grow 3.9 percent by the end of 2017 and will be largely driven by public investment and net exports, according to a World Bank report issued earlier this week. GDP growth this year is reported to be...
Yes

World oil prices edge down over expected climb in US output

18 Apr 2017
Oil prices fell in thin trade on Tuesday after the Easter holiday break shut many markets for as long as four days and as a U.S. government report indicated rising production. Benchmark Brent crude futures were down 4 cents at $55.32 at...
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