Business

European Bank allocates US$50 million to investment projects in Egypt

European Bank allocates US$50 million to investment projects in Egypt

Hildegard Gacek, director of the southern and eastern Mediterranean department of the European Bank for Reconstruction and Development, said the…
Government may raise fertilizer prices in October

Government may raise fertilizer prices in October

Official sources said the government is discussing today a dispute between the ministries of agriculture and trade over raising prices…
Minister: Economic reform will yield positive results

Minister: Economic reform will yield positive results

Finance Minister Hani Qadry said on Wednesday that the recent fiscal reforms will yield positive results in raising expectations about…
Minister: Govt will not go back on raw materials export ban

Minister: Govt will not go back on raw materials export ban

Mounir Fakhry Abdel Nour, minister of industry, trade and small and medium enterprises, said the government will not go back…
Railway Authority losses estimated at LE3 bn

Railway Authority losses estimated at LE3 bn

The total losses of the National Railway Authority in 2014-2015 are estimated at LE3 billion. The authority’s designated budget is LE17.3…
EGPC to start negotiations over paying part of foreign petroleum companies’ dues

EGPC to start negotiations over paying part of foreign petroleum companies’ dues

Egyptian General Petroleum Company (EGPC) is in negotiations with several international banks to receive a US$1.5 billion loan to pay…
Tourist visits decreased 20.7% in May

Tourist visits decreased 20.7% in May

The number of tourists visiting Egypt in May 2014 reached 768,000, a drop of 20.7 percent compared to 969,000 in…
20 new subsidized items to be displayed on market in August

20 new subsidized items to be displayed on market in August

Minister of Supply and Internal Trade Khaled Hanafy announced that 20 new subsidized goods would be on the market starting…
Domestic flights prices slashed by 20 percent to boost local tourism

Domestic flights prices slashed by 20 percent to boost local tourism

Aviation Minister Hossam Kamal said prices for domestic flights will be reduced by 20 percent as a bid to encourage…
Maximum wage to be applied by end of July

Maximum wage to be applied by end of July

The maximum wage, set at LE42,000 per month, is scheduled to come into effect by the end of July.  The law…
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