Business
Arab investment firm cancels plan to buy Omar Effendi
December 16, 2010
Arab investment firm cancels plan to buy Omar Effendi
The Arab Company for Investment and Development (ACID) on Thursday said it has scrapped a plan to take over the…
Toshiba to spend about US$59 million on Egypt TV plant
December 16, 2010
Toshiba to spend about US$59 million on Egypt TV plant
Tokyo--Japan's Toshiba Corporation said on Thursday it would spend about 5 billion yen (US$59 million) on setting up a liquid-crystal…
Egypt hopes to double exports to 200LE billion by 2013
December 15, 2010
Egypt hopes to double exports to 200LE billion by 2013
Trade and Industry Minister Rachid Mohamed Rachid on Wednesday said the government plans to double exports to LE200 billion by…
Libya to fund most of US$20 bln Egypt housing project
December 15, 2010
Libya to fund most of US$20 bln Egypt housing project
Libya will bankroll most of a 116 billion Egyptian pounds (US$20 billion) real estate project launched jointly with Egypt's housing…
Egypt regulator tells SODIC to alter stock split
December 15, 2010
Egypt regulator tells SODIC to alter stock split
Egypt's financial regulator approved a share split by real estate firm Sixth of October Development and Investment (SODIC) on Wednesday…
Orascom’s Djezzy asked to pay US$230 million in back taxes
December 15, 2010
Orascom’s Djezzy asked to pay US$230 million in back taxes
The Algerian tax authority has levied US$230 million of back taxes on Orascom Telecom's Algerian subsidiary Djezzy, company officials announced.The…
Official: 2010 tourist arrivals expected to break 15-million mark
December 14, 2010
Official: 2010 tourist arrivals expected to break 15-million mark
Measures adopted this year by the Ministry of Tourism had served to offset the adverse effects of last year’s drop…
Ministry implements new system for deep water gas exploration
December 14, 2010
Ministry implements new system for deep water gas exploration
Petroleum Minister Sameh Fahmy on Monday said his ministry implemented a new system for deep water gas exploration by foreign…
Ministry reverses planned tax increase following truckers’ strike
December 14, 2010
Ministry reverses planned tax increase following truckers’ strike
The Egyptian Finance Ministry on Tuesday gave in to the demands of truck drivers--on strike since Friday--by reversing an earlier…
High-income earners to be excluded from ration-card program
December 14, 2010
High-income earners to be excluded from ration-card program
The Ministry of Social Solidarity has decided to exclude citizens earning monthly salaries of more than LE1000 from using the…