Archives

Egypt

Sun, 14 Feb 2016 10:41:08 GMT
Egypt reverses policeman's sentence for killing activist
Egypt's highest court reversed a 15-year jail sentence handed down by a lower court to a policeman for killing an activist in the street.

Sun, 14 Feb 2016 04:52:03 GMT
Egypt to expand F&B export base,halal influence
Egypt's food and beverage industry is looking to expand its worldwide export footprint and leverage growing demand for halal products.

Sun, 14 Feb 2016 02:47:31 GMT
Egypt postpones wheat tender results
Egypt's state grain buyer asked suppliers on Saturday to extend the validity of their offers in its wheat tender until Sunday.

Sat, 13 Feb 2016 06:27:48 GMT
Egypt central bank says it injected USD14bn in three months
Egypt's central bank has injected over USD 14 billion dollars into local banks over the past three months to facilitate import activity and curb inflation on essential goods, a government statement said.

Sat, 13 Feb 2016 05:32:32 GMT
Thousands of Egyptian doctors protest over alleged police brutality
Thousands of Egyptian doctors demonstrated in Cairo in a rare protest at what rights groups call police impunity after two doctors were alleged to have been assaulted in a hospital in the city last month.

Sat, 13 Feb 2016 05:30:53 GMT
EU wheat edges up as euro eases; traders cautious on Egypt return
European wheat futures edged higher as a lower euro encouraged the market to hold above this week's contract lows, but a tentative return to buying by Egypt failed to dispel concerns about lagging exports and high stocks.

Fri, 12 Feb 2016 08:46:10 GMT
Saudi Panda eyes more branches in Egypt
Saudi-based Panda Retail Company has submitted a request to Egypt's Supply Ministry to invest in more than 16 land plots by establishing commercial chains.

Fri, 12 Feb 2016 08:44:21 GMT
European investments in Egypt rose 4% in 2015- EU's Moran
European investments in the Egyptian markets have been boosted by 4% during 2015, Head of European Union Delegation to Egypt James Moran stated.

Fri, 12 Feb 2016 08:43:12 GMT
LG Electronics denies suspending Egypt operations
South Korea's LG Electronics Inc has denied report about reducing or suspending its operations in Egypt due to a currency crisis.

Fri, 12 Feb 2016 05:50:21 GMT
Bunge takes legal action to deliver rejected French wheat to Egypt
Bunge Ltd is seeking to complete the delivery of a rejected cargo of French wheat to Egypt through legal action against the country's state grain buyer.

Fri, 12 Feb 2016 05:42:23 GMT
General Motors to resume operations in Egypt
General Motors will resume operations in Egypt on Sunday, after temporarily halting activities earlier in the week due to its inability to source dollars amid the country's currency crisis.

Thu, 11 Feb 2016 13:51:37 GMT
Egypt to issue one-year USD1 bn treasury bill- c. bank
Egypt will issue a one-year treasury bill worth USD1 billion, the central bank said.

Thu, 11 Feb 2016 12:43:18 GMT
Egypt's CIB to raise USD1bn to fund growth
Commercial International Bank (CIB), Egypt's largest listed company, said its board had approved a plan to raise up to EGP8 billion (USD1 billion) to fund expansion.

Thu, 11 Feb 2016 09:14:48 GMT
Egypt, Saudi drop in global rout
Egypt's stock market fell in early trade, erasing previous day's gain, while Saudi index was headed for a third straight day of losses after oil slid back near USD30.

Thu, 11 Feb 2016 08:23:34 GMT
Egypt's Juhayna raises full year dividend
Egypt's Juhayna Food Industries will distribute a higher 0.15 Egyptian pound per share dividend on February 28.

Thu, 11 Feb 2016 08:00:21 GMT
Egypt's OTMT approves final offer for CI Capital
Egyptian firm Orascom Telecom and Technology has approved the final offer for the acquisition of CI Capital, a subsidiary of Commercial International Bank.

Thu, 11 Feb 2016 05:46:36 GMT
Egypt signs 4 contracts for PPP projects worth $25bn
Egyptian Ministry of Housing has signed four contracts of large investment projects in real estate sector.

Thu, 11 Feb 2016 03:34:34 GMT
Egypt's annual consumer price inflation falls
Egypt's annual urban consumer inflation fell to 10.1% in January from 11.1 percent the previous month, after the country raised interest rates and moved to control prices of essential food.

Wed, 10 Feb 2016 13:38:01 GMT
Egyptian court acquits Mubarak-era minister
An Egyptian court acquitted former information minister Anas al-Fiqi on corruption charges, latest ruling to clear a prominent figure from the era of ousted president Mubarak.

Wed, 10 Feb 2016 13:18:41 GMT
Egypt: Medicines disappear from shelves
Declines in value of Egyptian pound have made it harder for Egyptian pharmaceutical companies to import ingredients they need to make generic medicines.

Wed, 10 Feb 2016 09:45:48 GMT
Egyptian PM sheds light on his country's preparations for future
Future of Egypt will be shaped by its citizens needs, said Egyptian Prime Minister Sherif Ismail in a session of the World Government Summit.

Wed, 10 Feb 2016 09:04:38 GMT
Egypt's annual urban consumer price inflation falls
Egypt's annual urban consumer inflation fell to 10.1% in January from 11.1 percent the previous month.

Wed, 10 Feb 2016 07:03:26 GMT
Egypt's consumer price inflation falls to 10.7%
Egypt's annual urban consumer inflation fell to 10.7% in January, the official statistics agency CAPMAS said, down from 11.1% in December.

Wed, 10 Feb 2016 06:42:23 GMT
Renewable energy to contribute 20% of Egypt's electricity by 2022
Egyptian Electricity Ministry targets new and renewable energy projects.

Wed, 10 Feb 2016 06:40:04 GMT
Egypt:Siemens inks service deal for power stations
Siemens extended a long-term contract to provide service and maintenance at power stations in Egypt.

Wed, 10 Feb 2016 05:30:16 GMT
EBRD's investments in Egypt hit €1.7bn
The European Bank for Reconstruction and Development (EBRD) has invested €1.7 billion (US$2 billion) in Egypt through 32 projects.

Wed, 10 Feb 2016 03:27:16 GMT
Egyptian policeman jailed for 8 years
A police officer in Egypt's eastern city of Ismailia has been sentenced to eight years in jail for beating a man to death in custody and falsifying police records.

Wed, 10 Feb 2016 03:25:44 GMT
Bunge challenges Egypt's grain buyer over rejected French wheat
Bunge Ltd said it has launched legal proceedings to challenge a decision by Egypt's state grain importer to reject a cargo of French wheat.

Tue, 09 Feb 2016 14:33:58 GMT
Mideast bourses join global market rout
Stock markets in the Middle East fell on Tuesday as risk appetite diminished following a slump in global shares.

Tue, 09 Feb 2016 11:05:54 GMT
Egypt cancels temporary tariff on sugar imports
Egypt is cancelling a temporary tariff levied on sugar imports in 2015 after completing an investigation into possible dumping of the commodity, the ministry of trade said.

Tue, 09 Feb 2016 10:17:53 GMT
Egypt PM says VAT bill to go to parliament this month
Egyptian Prime Minister Sherif Ismail said the government expects to present a long-awaited value added tax (VAT) bill to parliament at the end of this month.

Tue, 09 Feb 2016 10:06:43 GMT
GM suspends Egypt operations
General Motors has temporarily suspended its operations in Egypt due a currency crisis.

Tue, 09 Feb 2016 07:42:14 GMT
Banks' SME financing are 'inadequate'; says Egypt c.bank official
The banks' finances for small and medium-sizes projects (SMEs) are 'inadequate' compared to what given to corporations, said deputy governor of Egypt's central bank, Tarek Fayed.

Tue, 09 Feb 2016 07:41:13 GMT
HTC grabs 8% smartphone market share in Egypt in 2015
Taiwanese smartphone maker HTC Corp has captured a market share in Egypt of 8% by the end of 2015 up from 2% in the same period a year earlier.

Tue, 09 Feb 2016 07:39:06 GMT
Tatweer Misr launches new phase in USD1bn IL Monte Galala-Sokhna project
Egypt-based property developer, Tatweer Misr announced the launch of a new phase for the highly anticipated IL Monte Galala-Sokhna project in Ain Sokhna, around 120 km (74.5 miles) east of Cairo.

Tue, 09 Feb 2016 07:37:55 GMT
Egypt to build 150,000 affordable homes in FY2016-17
Egypt's Ministry of Housing is set to increase the number of affordable homes to 400,000 by implementing additional 150,000 in the financial year 20016-2017.

Tue, 09 Feb 2016 07:34:36 GMT
Sisi's fund to establish USD13m leasing firm
Tahya Masr (Long Live Egypt) Fund, originally initiated by President Abdel Fattah al-Sisi to support national economy, is planning to launch a leasing firm.

Tue, 09 Feb 2016 07:33:26 GMT
Suez Canal Insurance launches representative office in Fayoum
Egypt's leading composite insurer, Suez Canal Insurance has inaugurated a new branch and representative office in Fayoum city, 100 kilometres (62 miles) southwest of Cairo.

Tue, 09 Feb 2016 03:40:05 GMT
EU wheat extends losing streak as Egypt concerns persist
European wheat futures extended a losing run to nine straight sessions as reassurances by top buyer Egypt about import terms failed to convince a market worried about stalling exports and large stocks.

Tue, 09 Feb 2016 03:25:20 GMT
Italy demands justice for slain student, Egypt rejects accusations
Italy demanded that Egypt catch and punish those responsible for the death of a student found tortured by a roadside in Cairo, and the Egyptian government dismissed suggestions its security services could have been involved.

Tue, 09 Feb 2016 03:22:10 GMT
National Bank of Egypt subsidiary drops bid to buy CI Capital
National Bank of Egypt's investment banking arm said it had dropped its bid to buy CIB subsidiary CI Capital, after failing to agree on a timeframe to complete feasibility studies.

Mon, 08 Feb 2016 12:37:20 GMT
Italy demands justice for student slain in Egypt
Italy demanded that Egypt catch, punish those responsible for death of student Giulio Regeni, whose tortured, half-naked corpse was found in a roadside ditch in Cairo last week.

Mon, 08 Feb 2016 10:23:25 GMT
Egypt to set 2016-17 budget at devalued exchange rate-sources
Egypt is drafting its 2016-2017 budget on the basis of an exchange rate of EGP8.25 Egyptian to dollar compared to EGP7.75 this fiscal year, two government sources said.

Mon, 08 Feb 2016 08:20:33 GMT
Egypt's central bank receives $900m from China
Egypt's central bank has received $900 million from the China Development Bank under a $1 billion financing agreement signed last month.

Mon, 08 Feb 2016 07:19:45 GMT
Egypt's furniture exports hit $332m in 2015
The exports of furniture sector have reached around 2.6 billion Egyptian pounds in 2015.

Mon, 08 Feb 2016 04:40:36 GMT
Egyptian police shoot four suspected militants
Egyptian police shot dead four suspected Islamist militants inside a house a few miles from central Cairo.

Mon, 08 Feb 2016 04:33:00 GMT
Egypt reassures wheat market over regulations
Egypt sought to reassure wheat markets over its import requirements on Sunday.

Sun, 07 Feb 2016 14:52:10 GMT
Egypt's Palm Hills doubles profit
Palm Hills more than doubled its fourth-quarter net profits in 2015 as Egyptians flee crowded Cairo.

Sun, 07 Feb 2016 10:02:23 GMT
Egypt's CI Capital gets counterbid from NBE
National Bank of Egypt's investment arm has expressed an interest in CI Capital, a subsidiary of Commercial International Bank.

Sun, 07 Feb 2016 06:59:50 GMT
Egypt bans play over uprising slight claims
Authorities in Egypt’s coastal city of Suez have cancelled a plan to show a comedy featuring veteran actor Ahmad Badr after allegations that the show mocks the 2011 uprising.

Sun, 07 Feb 2016 06:21:56 GMT
Egypt:Bank to inject $127.7m in desert reclamation project
Egypt's main agricultural bank, PBDAC is planning to invest one billion Egyptian pounds in the country's national project of greening one and half million feddans.

Sun, 07 Feb 2016 04:50:42 GMT
Sisi's Fund to secure $127.7m for social housing units
Tahya Masr (Long Live Egypt) Fund would secure one billion Egyptian pounds (US$ 127.7 million) for the social housing scheme.

Sun, 07 Feb 2016 04:21:13 GMT
INTERVIEW-Egypt sees World Bank funds arriving soon
Egypt expects to receive a $1 billion World Bank loan approved in December once outstanding paperwork is finalised.

Sun, 07 Feb 2016 03:02:37 GMT
Egypt returns body of slain Italian student
The body of an Italian student who was found dead by a roadside in Cairo has been returned to Rome.

Sun, 07 Feb 2016 02:58:13 GMT
Dozens mourn slain Italian student at Cairo embassy
Dozens of people gathered at the Italian embassy in Cairo on Saturday to mourn the Italian student Giulio Regeni.

Sat, 06 Feb 2016 04:46:29 GMT
Italian student killed in Egypt criticised Cairo govt in articles
An Italian student found dead by a roadside in Cairo with cigarette burns and other signs of torture on his body had written articles critical of the Egyptian government, according to the Italian newspaper that published them.

Fri, 05 Feb 2016 08:04:17 GMT
Italian SACE to develop Egypt's Midor refinery
Italian joint-stock company SACE is to fund the project of upgrading Egypt's largest oil refinery Midor near Alexandria with the cost of USD 1.2 billion, Italian Economic Development Minister Federica Guidi said.

Fri, 05 Feb 2016 08:01:03 GMT
IFC pledges USD144m for Egypt's infrastructure, ports
The International Finance Corporation (IFC) announced it is providing a financing package of USD 144 million to Egypt's Sonker Bunkering Company.

Fri, 05 Feb 2016 06:39:16 GMT
World Bank says wars, cheap oil hurting Middle East growth
The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6%, falling short of a 2.8% forecast in October as war, terrorism and cheap oil took their toll.

Fri, 05 Feb 2016 05:45:41 GMT
Italy PM asks Egypt to return body of slain student
Italian Prime Minister Matteo Renzi spoke to Egyptian President Abdel Fattah al-Sisi, urging the swift return of the body of a slain Italian student who was found with cigarette burns on his body.

Fri, 05 Feb 2016 05:40:52 GMT
Egypt central bank wants to put lid on black market rates
Egypt's central bank has begun holding meetings with foreign exchange bureaus to try to keep a lid on black market rates for the dollar, black market traders said, in a move one banker said was doomed to fail.

Thu, 04 Feb 2016 11:39:55 GMT
Signs of torture, cigarette burns on body of dead Italian- Egypt
Signs of torture and cigarette burns were found on the body of an Italian student who had gone missing in Cairo, a senior Egyptian prosecutor said.

Thu, 04 Feb 2016 10:56:06 GMT
Italy summons Egyptian ambassador over suspicious Cairo death
Italy's Foreign Ministry summoned the Egyptian ambassador to Rome to express concern about the suspicious death of an Italian man in Cairo, to urge a joint investigation.

Thu, 04 Feb 2016 10:55:01 GMT
Egypt's two state banks sign MoU with Russian Fund
Egypt's state-run bank giants, National Bank of Egypt and Banque Misr signed MOU with the Russian Direct Investment Fund.

Thu, 04 Feb 2016 10:02:40 GMT
Egypt's HC securities working on USD600m acquisitions
Egypt's HC Securities is working on acquisitions in Egypt worth more than EGP5 billion this year, Chairman Hussein Choucri told Reuters.

Thu, 04 Feb 2016 09:29:51 GMT
Torture on body of Italian student missing in Egypt
An Italian student who went missing in Cairo has died and an investigation has been launched into signs of torture on his body, found dumped next to a road, security officials said.

Thu, 04 Feb 2016 07:33:31 GMT
Egypt's Banque Misr set for USD100m China Development Bank loan
Egypt's second-largest state lender, Banque Misr, expects to receive a USD 100 million loan from China Development Bank in February to finance small and medium enterprises.

Thu, 04 Feb 2016 06:46:52 GMT
Thirty Italian firms seek investing in Egypt
Egyptian trade minister is to hold an expanded meeting with the Italian Minister of Economic Development to review investment opportunities available in Egypt.

Thu, 04 Feb 2016 06:09:53 GMT
Tough start to 2016 with S&P GCC index declining-Markaz
Markaz examines and analyzes the performance of equity markets in the MENA region.

Thu, 04 Feb 2016 04:44:19 GMT
EU wheat at new low as Egypt rule reversal fails to lift mood
European wheat futures sank to fresh contract lows as traders reacted cautiously to a move by Egypt to resolve a standoff over import terms, and a jump in the euro underlined a tough export outlook.

Thu, 04 Feb 2016 04:21:02 GMT
Italian student missing in Egypt likely dead
An Italian student from Britain's Cambridge University who went missing last week in Cairo is likely dead, the Italian foreign ministry said.

Wed, 03 Feb 2016 13:45:36 GMT
Saudi ends higher on oil rebound, most of Gulf soft
A late rebound in oil prices helped Saudi stock market close higher while most other Gulf bourses were lower. Real estate shares helped to lift Egypt's market.

Wed, 03 Feb 2016 13:38:51 GMT
El Sewedy Electric Angola power stations deal
A subsidiary of El Sewedy Electric has signed a USD484.5 million contract to build three power stations in Angola but deal is not yet in effect, Egyptian firm said in statement.

Wed, 03 Feb 2016 12:35:55 GMT
Egyptian dairy firm Domty to list in Mar- MD
Egyptian dairy firm Arabian Food Industries (Domty) is planning an initial public offering (IPO) on Cairo bourse in March, Chairman and Managing Director Omar El Damaty said.

Wed, 03 Feb 2016 12:16:54 GMT
Egypt to accept wheat with 0.05% ergot
Egypt's agriculture ministry will allow wheat imports with up to 0.05 percent levels of ergot, a common grains fungus, it said.

Wed, 03 Feb 2016 10:12:13 GMT
Egyptian forces kill 2 militants in upscale Cairo
Egyptian security forces killed two suspected Islamist militants during clashes in the upscale Cairo district of Maadi.

Wed, 03 Feb 2016 08:00:17 GMT
Misr Insurance wins fertilisers firm's policy bid
Misr Insurance Company wins a policy bid to insure the assets, facilities, factories, and premises of one of Alexandria-based fertilisers firm.

Wed, 03 Feb 2016 07:59:11 GMT
Egypt to increase agricultural exports to Russia
Egypt intends to increase its exports of vegetable and fruits to the Russian market.

Wed, 03 Feb 2016 07:57:34 GMT
EFG Hermes targets new IPOs
Egypt's EFG-Hermes plans to run some new initial public offerings (IPOs) in food, healthcare, education, industrial sectors.

Wed, 03 Feb 2016 07:54:17 GMT
Sisi urges Russia to execute its projects in Egypt
Egyptian president Abdel Fattah al-Sisi urged Russia to execute the agreed upon projects as soon as possible.

Wed, 03 Feb 2016 07:51:35 GMT
Chinese,Egyptian contractors in alliance to win African projects
A group of Egyptian and Chinese contracting companies have forged an alliance to compete for projects tendered in the African markets.

Wed, 03 Feb 2016 07:45:37 GMT
Egypt to float Arab Investment Bank on bourse
State-run National Investment Bank of Egypt plans to float some of its shares in the Arab Investment Bank on local bourse soon.

Wed, 03 Feb 2016 06:59:06 GMT
Egypt plans to attract oil and gas investments
Egypt's petroleum sector plans to attract Arab and foreign investments in oil and gas industries field.

Wed, 03 Feb 2016 06:56:47 GMT
Egyptians for Housing plans tower project
Egyptians Housing Development and Reconstruction is studying the establishment of a residential and administrative tower in south of Cairo.

Wed, 03 Feb 2016 05:35:06 GMT
Egypt's non-oil business activity slows in Jan
Business activity in Egypt shrank for the fourth straight month in January as new export orders tumbled.

Wed, 03 Feb 2016 05:25:30 GMT
Egypt eyes flight resumption with Russia
An Egyptian airline plans to buy up to 10 Russian-made jets and could also restore flights that were suspended after a plane crash last year.

Wed, 03 Feb 2016 03:18:49 GMT
Egypt, Russia may start building nuclear plant
Egypt may start construction of its first nuclear power plant with Russia's assistance in 2018, Interfax news agency quoted Industry and Trade Minister Denis Manturov as saying.

Wed, 03 Feb 2016 03:16:27 GMT
EU wheat at new lows as Egypt darkens export outlook
Euronext wheat futures hit new contract lows as the cancelling of a tender by Egypt hardened a standoff over import rules, adding uncertainty to a market needing to clear large stocks.

Wed, 03 Feb 2016 03:14:52 GMT
Egyptian Leisure Airlines to buy Russian Sukhoi jets
Privately-owned Egyptian Leisure Airlines agreed a multi-million dollar deal in Cairo to buy four Russian-made passenger jets from Sukhoi Civil Aircraft, with the option of ordering another six.

Wed, 03 Feb 2016 03:13:48 GMT
Egypt edges toward wheat supply crisis
Egypt's wheat suppliers boycotted en masse a state tender, pushing the world's biggest purchaser of the commodity towards a crisis that could threaten its strategic grain reserves.

Tue, 02 Feb 2016 11:41:57 GMT
Egyptian Leisure Airlines to buy Russian Sukhoi jets
Privately owned Egyptian Leisure Airlines will sign a deal in Cairo to buy at least five Russian Sukhoi jets, an Egyptian source said.

Tue, 02 Feb 2016 10:48:52 GMT
Search for Italian student missing in Cairo
Italy is working with the Egyptian government to find an Italian student from Britain's Cambridge University who went missing last week in Cairo.

Tue, 02 Feb 2016 06:25:53 GMT
Egypt, Russia, UAE to sign deal on joint investment fund
Egypt, Russia, and UAE will sign in Cairo Tuesday an agreement to establish a tripartite investment fund, Egyptian Industry Minister Tarek Qabil said.

Tue, 02 Feb 2016 05:50:17 GMT
New link allows Egyptian investors to trade on Nasdaq Dubai
Egyptian investors can now easily buy and sell shares on the Nasdaq Dubai exchange through a newly created link with Misr for Central Clearing, Depository and Registry (MCDR), the Dubai bourse said in a statement on Monday, a step to further facilita...

Tue, 02 Feb 2016 03:15:54 GMT
EU wheat hits contract lows after Egypt rejects French cargo
European wheat prices fell to new contract lows after a move by Egypt's state grain buyer to reject a cargo of French wheat because it did not comply with new import rules.

Mon, 01 Feb 2016 11:47:20 GMT
Egypt to launch agricultural commodities bourse by year-end
Egypt plans to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East, by the end of 2016, Supplies Minister Khaled Hanafi said.

Mon, 01 Feb 2016 10:10:21 GMT
MENA steps up energy efficiency drive
Energy demand in MENA is growing at more than three times the global average.

Mon, 01 Feb 2016 09:23:53 GMT
Saudi pulls back with oil, Egypt falls
Saudi Arabia's stock market fell early after oil prices pulled back, while Egypt dropped again on currency jitters.

Mon, 01 Feb 2016 08:57:26 GMT
Egypt rejected French wheat shipment after re-testing
Egypt rejected a French wheat shipment it said did not meet strict new import rules.

Mon, 01 Feb 2016 05:30:06 GMT
Egyptian Holding Construction merges affiliates to avoid recession
Egyptian Holding Company for Construction and Development (HCCD) has merged a number of affiliates among its plans to protect them from recession.



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