FINANCE & ECONOMY

21 Apr 2018

No GERD situation will be imposed on Egypt: minister

Egyptian diplomatic sources said that there is ongoing contacts between Cairo, Khartoum and Addis Ababa to set a date for the next meeting of the committee, which includes foreign, and irrigation ministers, and heads of intelligence services in the three countries, to discuss the issue"...

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21 Apr 2018

Egypt's parliament moves forward on anti-cybercrime law

Nidal al-Said, chairman of parliament's Communications and Information Technology Committee, announced on April 16 that the committee approved a 45-article draft law submitted by the government to combat cybercrime. He told the press that the committee is now working on preparing a report on the bill to submit to parliamentary speaker Ali Abdel Aal for adoption. The committee finished discussing all articles of the draft law in less than a month and a half, as it held its first meeting on March 5 in the presence of representatives of 19 ministries, including the ministries of Defense, Interior, Telecommunications and Information Technology.......

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21 Apr 2018

Russia and Egypt to negotiate flights to Sharm El Sheikh and Hurghada at end of spring

The talks on resumption of air service between Russia and Egypt’s resorts of Sharm El Sheikh and Hurghada will be launched at the end of spring or in the beginning of summer this year, Russia’s Transport Minister Maksim Sokolov said Wednesday.

'We"...

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21 Apr 2018

$2.5 bn worth of trade between Egypt, France in 2016/17

Trade between Egypt and France reached a value of $2.5 billion in the fiscal year 2016/17, announced the manager of Business France Office in Egypt, Ludovic Prevest.

Prevest declared he expected the trade exchange"...

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21 Apr 2018

Yorktown selling Egypt oil business Merlon -sources

Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters.

The process is being run by"...

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21 Apr 2018

Ethiopia, Sudan ignore Egypt’s call for resuming Grand Renaissance Dam talks

Ethiopia and Sudan have ignored an Egyptian invitation for a meeting this week in Cairo to resume discussions on the Grand Ethiopian Renaissance Dam.

Last week, the Egyptian Foreign Minister, Sameh Shoukry, invited"...

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21 Apr 2018

Egypt committed to economic reform and would increase taxes: MInister

Egypt’s Finance Minister Amr al-Garhy continued his activity in the US capital Washington, where he participated in some important meetings on the sidelines of the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB).

"...

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21 Apr 2018

Egypt buys 190,000 tonnes of locally-produced wheat - ministry

Egypt, the world's largest buyer of wheat, has purchased 190,000 tonnes of locally-produced wh eatsince the season began last week, state news agency MENA reported, citing the Supply Ministry.

The government said last year it would buy wheat from local farmers at global"...

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21 Apr 2018

EU, Egypt to sign new strategic partnership on energy

Climate Action and Energy Commissioner Miguel Arias Canete will be in Egypt on 22-24 April for a high-level visit with government officials and energy stakeholders.

On behalf of the Commission he will sign a Memorandum"...

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21 Apr 2018

INTERVIEW: Egypt has the potential to grow exponentially in e-commerce, says ElAraby e-business manager

Online shopping has been on the rise in Egypt over the last few years. More companies have been paying attention to the potential of e-commerce, which has increased in volume to currently reach over $5 billion in the local market, with official expectations to reach $20 billion by 2020. With Egypt’s new national strategy for e-commerce that aims to double the number of businesses selling products and services online, the country has the potential to grow exponentially in that field. Increasing numbers of mobile phone and social......

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