Egypt expects its debt to become ‘euroclearable’ in October

CAIRO

Egypt has signed an agreement with Euroclear, Europe’s biggest settlement house for securities, to allow holders of its sovereign debt to clear transactions outside the country beginning in six months’"...

Presidential decree to amend supply affairs, consumer protection laws

President Abdel Fattah Al-Sisi issued a decree to amend articles of the law no.95/1954 regulating Supply Affairs and the law no.3/2005 on the Protection of Competition and the Prevention of Monopolistic Practices, according to official Gazette on Tuesday.

The"...

Government purchases electricity from private sector for EGP 400m

The government has purchased electricity from the private sector for EGP 400m until March 2019.

Sources at the ministry of electricity told Daily News that the Egyptian Electricity Transmission Company (EETC)"...

Swiss companies, embassy to promote cooperation in vocational education with Egypt

The embassy of Switzerland in Egypt, along with Swiss companies, will promote educational and vocational training cooperation, in collaboration with the Egyptian government, Paul Garnier, the ambassador of Switzerland, said. He added, “The Egyptian government declared 2019 as a year"...

Al-Sisi meets Lavrov in Cairo over boosting trade exchange

President Abdel Fattah Al-Sisi received Russian Foreign Minister Sergey Lavrov in Cairo on Saturday, according to the presidential spokesperson Bassam Rady.

Al-Sisi and Lavrov addressed enhancing bilateral cooperation"...

Egypt’s Sisi raises monthly minimum wage

Egypt’s President Abdel Fattah al-Sisi has raised the country’s minimum wage to 2,000 Egyptian pounds ($116) a month from 1,200 pounds, he said at an event on Saturday celebrating women, reported by Reuters.

Sisi"...

Government plans to borrow EGP 478.5bn to fill budget deficit

The government plans to expand in borrowing from the local market to fill the budget deficit in the second quarter (Q2) of fiscal year (FY) 2018/19, the figures obtained by Daily News Egypt revealed. The budget deficit is expected to reach EGP 440bn by the end of this FY.

According"...

Government studies new e-system to facilitate imports of renewable energy equipment

The government has started discussions in order to develop an e-system which will facilitate the work of the importers of renewable energy equipment when they deal with the Customs Authority and its affiliated outlets.

Government"...

Egypt, Jordan and Iraq discuss ‘strengthening economic ties’

Egyptian President Abdul Fattah Al-Sisi, Jordan’s King Abdullah II and the Iraqi Prime Minister Adel Abdul Mahdi yesterday met in a three-way summit which was held in Egypt’s capital, Cairo.

The tripartite"...

Egypt government and Visa partner to promote digital payments

Egypt Ministry of Planning, Follow-Up and Administrative Reform has signed a cooperation protocol with Visa Inc for electronic payment to help spread the culture of digital payment and its positive impact on economic growth.

The"...