Business
Fourth mobile license to be proposed at LE 2.5 billion
April 2, 2014
Fourth mobile license to be proposed at LE 2.5 billion
The Egyptian government has proposed a license for the fourth mobile communications company, state-owned Telecom Egypt, at LE2.5 billion, and…
CBE governor says US$3 billion paid to Qatar in December
April 2, 2014
CBE governor says US$3 billion paid to Qatar in December
Central Bank of Egypt (CBE) Governor Hesham Ramez said that Egypt has not been late in paying for dues of…
Minister: Govt to reduce energy subsidies before FY2014/2015
April 2, 2014
Minister: Govt to reduce energy subsidies before FY2014/2015
Minister of Planning and International Corporation Ashraf al-Araby announced that the government is aiming to reduce energy subsidies before FY2014/2015,…
CBE: Total surplus of US$2 bn at balance of payment during first half of 2013-2014
April 1, 2014
CBE: Total surplus of US$2 bn at balance of payment during first half of 2013-2014
Central Bank of Egypt (CBE) announced a total surplus of around US$2 billion at the balance of payment during the…
Minister: Urban Communities Authority approves offering industrial lands through usufruct
March 31, 2014
Minister: Urban Communities Authority approves offering industrial lands through usufruct
Trade, Industry and Investment Minister Mounir Fakhry Abdel Nour said that the New Urban Communities Authority board approved proposing industrial…
EBRD offers US$190 million for two electricity generation stations development
March 31, 2014
EBRD offers US$190 million for two electricity generation stations development
Egypt signed a loan agreement on Monday with the European Bank for Reconstruction and Development (EBRD) to convert electricity generation…
Number of tourists visiting Egypt drops 27 percent in February 2014
March 30, 2014
Number of tourists visiting Egypt drops 27 percent in February 2014
The total number of tourist arrivals to Egypt dropped 27 percent in February 2014 compared to the same month last…
Egypt narrows budget deficit in 8 months due to aid from Gulf countries
March 28, 2014
Egypt narrows budget deficit in 8 months due to aid from Gulf countries
Egypt’s overall budget deficit narrowed to LE123.6 billion (US$17.79 billion) in 8 months from 2013 to 2014 from LE146.5 billion,…
Central Bank offers dollar bid
March 27, 2014
Central Bank offers dollar bid
The Central Bank has on Thursday offered a US$40 million tender to local banks in accordance with the bidding mechanism…
Egypt considering importing liquefied gas from Russia
March 26, 2014
Egypt considering importing liquefied gas from Russia
Minister of Commerce, Industry and Investment Mounir Fakhry Abdel Nour said the Russian government agreed after a hiatus of three…