Economy
Red Sea occupancy rate 90-100%
July 14, 2015
Red Sea occupancy rate 90-100%
Hotels and resorts in Hurghada, Gouna and Sahl Hasheesh in the Red Sea have witnessed a significant rise in occupancy…
Egypt’s market loses LE3.6 billion on Monday, EGX30 falls 1.4%
July 13, 2015
Egypt’s market loses LE3.6 billion on Monday, EGX30 falls 1.4%
Egypt's market closed in the red zone on Monday's session, as the benchmark EGX30 index declined by 1.36 percent, recording 7,587.07…
Allocations for exports could increase from current LE2.6 bn
July 13, 2015
Allocations for exports could increase from current LE2.6 bn
The government is discussing the possibility of increasing allocations for its Exports Development from a current LE2.6 billion, Foreign Trade…
Minister: No party would be harmed by application of new Civil Service Law
July 13, 2015
Minister: No party would be harmed by application of new Civil Service Law
No party would be harmed by the application of the Civil Service Law, said Finance Minister Hany Qadry Dimian on…
President approves law empowering private sector to produce electricity
July 13, 2015
President approves law empowering private sector to produce electricity
President Abdel Fattah al-Sisi has adopted changes to the laws on power generation and the national electricity authority, which essentially…
Holding company: 32 companies in limbo over cotton import ban
July 13, 2015
Holding company: 32 companies in limbo over cotton import ban
Government textile companies are expected to be negatively affected by a recent decision from the Agriculture Ministry to ban the…
Egypt’s Emaar Misr first-half net sales grow by 20 %
July 13, 2015
Egypt’s Emaar Misr first-half net sales grow by 20 %
Egyptian developer Emaar Misr reported a 20 percent rise in first-half net sales to LE3.91 billion ($499.36 million) on Monday…
Financial Supervisory Authority welcomes amendments to private insurance fund regulations
July 13, 2015
Financial Supervisory Authority welcomes amendments to private insurance fund regulations
The Egyptian Financial Supervisory Authority has welcomed the amendment of the executive regulations for the law of private insurance funds,…
Egyptian pound steady at auction, stronger on parallel market
July 12, 2015
Egyptian pound steady at auction, stronger on parallel market
Egypt's central bank held the Egyptian pound steady at 7.73 per dollar for the third straight foreign exchange auction on…
Saudi’s Mobily names former Mobinil executive as new chief financial officer
July 12, 2015
Saudi’s Mobily names former Mobinil executive as new chief financial officer
Etihad Etisalat (Mobily), Saudi Arabia's number two telecommunications operator, has appointed Kais Ben Hamida as chief financial officer, its parent…