Business
Egypt pays $350 million to BG Group
October 6, 2014
Egypt pays $350 million to BG Group
BG Group plc, has received a US$350 million payment from the Egyptian government, the British world leader in exploration and…
EGAS pumps $4 billion to increase gas production in 2014/2015
October 6, 2014
EGAS pumps $4 billion to increase gas production in 2014/2015
The state-owned firm Egyptian Natural Gas Holding Company (EGAS) plans to increase its gas production with investment worth US$4 billion…
Egyptian expat remittances hit highest level ever, boosts economy
October 6, 2014
Egyptian expat remittances hit highest level ever, boosts economy
Remittances from Egyptians working abroad rose to its highest level ever, boosting their home economy according to new Central Bank…
Central Bank: Egypt’s budget deficit shrinks to 12.4% of GDP in 2013/2014
October 2, 2014
Central Bank: Egypt’s budget deficit shrinks to 12.4% of GDP in 2013/2014
Egypt’s overall budget deficit fell to LE253.7 billion or 12.4 percent of GDP in the fiscal year of 2013/2014, from…
Finance Minister: Recent economic reforms solely Egypt’s decision
October 2, 2014
Finance Minister: Recent economic reforms solely Egypt’s decision
Minister of Finance Hany Qadry Damian has admitted to Egypt’s absence from the world transparency rankings over the last three…
Hermes Acquires 49% of French Wind Energy Company in $208 million
October 2, 2014
Hermes Acquires 49% of French Wind Energy Company in $208 million
EFG Hermes acquired 49 percent of French Wind Energy Company in US$208 million Leveraged Buyout, deploying MENA Capital in Cash-Yielding…
Agadir Agreement encourages Egypt trade exchange to Morocco, Jordan and Tunisia by 46%
October 1, 2014
Agadir Agreement encourages Egypt trade exchange to Morocco, Jordan and Tunisia by 46%
The Ministry of Trade and Industry has said that the Agadir Agreement had allowed Egypt to increase by 46 percent…
Pressure on Qatar to extend maturity of $2.5 bn in bonds owed by Egypt
October 1, 2014
Pressure on Qatar to extend maturity of $2.5 bn in bonds owed by Egypt
A Finance Ministry source said Gulf states are putting pressure on Qatar to extend the maturity of bonds worth US$2.5…
Petroleum Authority signs LE10 bn loan to repay foreign companies
October 1, 2014
Petroleum Authority signs LE10 bn loan to repay foreign companies
Five banks on Wednesday granted the Petroleum Authority the biggest loan in the history of the Egyptian banking system worth…
Egypt borrows a record LE216 billion from local market in 1st quarter
September 30, 2014
Egypt borrows a record LE216 billion from local market in 1st quarter
Egypt’s domestic debt sales have grown by an annual 8.2 percent to a record LE216.3 billion (US$30.3 billion) in the…