Business

Egypt considering temporary stamp duty on Stock Market deals: sources

19 Jan 2017
Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters on Thursday.    The comments came a day after the International...
Yes

Lufthansa not in talks with Etihad over stake: source

AFP | Lufthansa aircraft at the Franz-Josef-Strauss-Airport in Munich, southern Germany, on September 10, 2014
18 Jan 2017
Lufthansa is not in talks with Etihad about the Abu Dhabi-based carrier taking a stake in the German airline, a source familiar with the matter said on Tuesday in response to an Italian media report.  "A financial...
Yes

Egypt fixes customs dollar exchange rate to help importers

18 Jan 2017
Egypt will fix its customs dollar exchange rate and adjust it on a monthly basis to help importers better cope with pricing of their products after the central bank floated its currency in November.   The Finance Ministry fixed the...
Yes

EgyptAir announces special offers on domestic round-trip tickets

18 Jan 2017
EgyptAir Holding Company announced special offers for one-day round trips from Cairo and Borg al-Arab airports to domestic destinations like Sharm el-Sheikh, Hurghada, Luxor, and Aswan, said company Chairman Safwat Mesallam.   The...
Yes

Egypt offers Khaliji investors plots of lands seeking hard currency

17 Jan 2017
The Housing Ministry Tuesday offered land plots for Khaliji investors for sale against US dollarsover the upcoming three months, in partnership with the Egyptian private sector, according to Assistant Housing Minister Khaled Abbas, quoted...
Yes

Uber announces fare increase

17 Jan 2017
Uber company raised the starting fares of its rides from LE4 to LE5 for economy taxis, and from LE5 to LE6 for the premium service.     Careem's starting fare meanwhile is set at LE5.5.   The company issued a statement...
Yes

Moody's expects 4% economic growth for Egypt in 2017

Moody's logo
17 Jan 2017
Moody's Investor Service expects that Egypt's economy will grow by 4% in 2017, and the growth rate will increase 4.5% in the following year.  Moody's attributes this potential increase to private consumption and foreign...
Yes

Sterling Pound suffers on 'Brexit' fear, as Asian markets retreat

16 Jan 2017
The pound struggled at 32-year lows against the dollar in Asia on Monday after reports said British Prime Minister Theresa May was ready to take the country out of the European Union in a so-called "hard Brexit". Sterling's...
Yes

Egypt is planning new cuts to energy subsidies, says Finance Minister

A banner reads "Empty Tank" as tens of cars queue at petrol station, Cairo, January 16,2012 amid fears of an oil shortage.
16 Jan 2017
Egypt's Finance Minister Amr al-Garhy said on Sunday the government is studying the application of new cuts to fuel subsidies.   The pressure on the subsidies has been mounting because the increasing price of oil, globally, and...
Yes

Egypt says foreign investment in treasuries set to reach $10-11 bln in one year

15 Jan 2017
Egyptian Finance Minister Amr El Garhy said on Sunday he expected foreign investment in Egyptian treasury instruments to reach about $10-$11 billion in one year.   Egypt used to attract significant inflows into government bonds and...
Yes