Economy news
Minister: Drop in foreign investments unrelated to political climate
19 Sep 2010
The Minister of Trade and Industry Rachid Mohamed Rachid attributed the decrease of foreign investments in Egypt for fiscal year 2009/2010 to different factors, including the world financial crisis, which prompted many banks and investment...
Yes
Trade Minister: Egypt has enough wheat to avoid food crisis
19 Sep 2010
The Egyptian government has enough stored wheat to avoid a bread shortage, said Minister of Industry and Trade Rachid Mohamed Rachid. Rachid added that rioting, similar to the 2008 wheat crisis, is unlikely to happen.
Funds are secure for...
Yes
Ministry of Social Solidarity plans to curb black market flour sales
18 Sep 2010
The Ministry of Social Solidarity is preparing a new plan to stop black market sales of subsidized flour used for bread production, sources said.
Under the current system, owners of bakeries purchase one ton of flour--the market...
Yes
Mohieldin: I will monitor investment in infrastructure from my position in the World Bank
17 Sep 2010
Investment Minister Mahmoud Mohieldin said that he will continue to monitor investments in Egypt while in his new position as a director of the World Bank, focusing particularly on infrastructure. This area is still underfunded in Egypt,...
Yes
French suppliers raise wheat prices by US$10 per ton
16 Sep 2010
French suppliers substantially raised their wheat prices at a tender offer held Thursday by the General Authority for Supply Commodities (GASC), according to a GASC official.
The official, who requested anonymity, attributed the price hike...
Yes
LE40 billion to relocate Helwan factories
16 Sep 2010
The relocation of Helwan's environmentally polluting factories will cost LE40 billion, said the Ministry of Trade and Industry's Industrial Development Authority (IDA). Due to the high cost, the IDA has decided that the relocation...
Yes
Madinaty ruling provokes concern and heightened security
16 Sep 2010
The Talaat Moustafa Group (TMG), Egypt's largest urban development conglomerate, has erected metal barricades at the gates of its Madinaty residential compound, sources said. Tight security measures have been imposed and visitor IDs...
Yes
Housing Ministry allocates land to 87,000 youth
15 Sep 2010
Minister of Housing, Utilities and Urban Development Ahmed al-Maghrabi said his ministry has delivered plots of land to 98 percent of the 87,000 youth participating in the Ibni Beitak (Build Your Home) project.
Approximately 2000 people...
Yes
Egyptian exchange sees highest rise in 4 months
14 Sep 2010
Egypt’s stock exchange rose significantly yesterday in its first session following the Eid al-Fitr vacation, with foreign investors demonstrating an inclination to buy amid a wave of selling by Egyptian and Arab investors.
Egypt'...
Yes
Egypt court rejects TMG Madinaty appeals, shares fall
14 Sep 2010
An Egyptian court upheld Tuesday a case canceling the sale of a 33 million-square-meter plot of government land on the city’s outskirts to Talaat Moustafa Group (TMG) Holding.
A court on June 22 canceled the sale of the land due to...
Yes
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