FINANCE & ECONOMY

16 Aug 2018

Telecom Egypt highlights revenue growth in H1 2018

In releasing its financial results for the first half of 2018, Telecom Egypt announced a notable milestone, with revenues for the period topping EGP10 billion (USD558 million) for the first time. Consolidated turnover in the six-month period under review, meanwhile, stood at EGP10.13 billion,"...

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16 Aug 2018

Egypt won’t receive more requests from importers seeking better status

Egypt’s Ministry of Industry and Trade will close its doors to receive requests from importers, seeking to adjust their positions in accordance with Law No. 7 of 2017 related to importers’ registration.

On"...

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16 Aug 2018

Egypt's unemployment rate drops to 9.9% in Q2 of 2018: CAPMAS

Egypt's unemployment rate dropped to 9.9 percent in the second quarter of 2018 compared to 10.6 percent in the first quarter and 12 percent for the same period in the previous year, state statistics agency CAPMAS announced on Wednesday.

CAPMAS"...

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16 Aug 2018

Wheat fell in price in Egypt tender

Wheat fell in price in Egypt tender

On August 14, Egypt purchased 420 KMT of milling wheat from Russia & Romania to be delivered on September 21 – 30 and October 1-10, 2018 at an average price of USD"...

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16 Aug 2018

Egypt Prepares 4mw Solar Power Project for Uganda's Renewable Energy

The business environment in Uganda is proving to be more conducive for investors with more investments lining up for a share of the economy.

In a bid to be consistently competitive in the East African region,"...

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16 Aug 2018

Egypt's central bank expected to keep rates until inflation steadies

Egypt's central bank is expected to keep interest rates unchanged at its next policy meeting and hold back on more rate cuts this year until inflation steadies, a Reuters poll showed on Tuesday.

Twelve economists"...

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16 Aug 2018

Egypt to send emergency aid to flood-stricken Sudan: Presidency

Egypt's President Abdel-Fattah El-Sisi has ordered emergency aid to Sudan to help deal with the impact of recent flooding in the country, Ahram Arabic news website quoted presidential Bassam Rady as saying.

At"...

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16 Aug 2018

Egypt's ESIIC to tender for 100,000 tonnes of raw sugar instead of 150,000 tonnes -document

Egypt's state-buyer, the Egyptian Sugar and Integrated Industries Company (ESIIC), will hold an international purchase tender for 100,000 tonnes of raw sugar, according to a document seen on Wednesday.

ESIIC"...

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16 Aug 2018

Egypt to offer shares in new cement plant on stock market - president

Egypt plans to offer shares on the stock market of a newly opened $1.1 billion cement plant, President Abdel Fattah al-Sisi said on Wednesday. Sisi was speaking at a ceremony to inaugurate the plant, Egypt's biggest with an annual capacity of 13 million tonnes, and a nearby ornamental stone production complex in Beni Suef province south of Cairo. 'We have taken a decision to put these companies to the bourse,' Sisi said in a speech at the ceremony broadcast live on state television. 'I tell Egyptians that we had taken this......

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16 Aug 2018

Egypt to export gas starting January, says minister - El Watan

Egypt's petroleum minister said on Wednesday that the country would begin exporting natural gas in January, news website El Watan reported. Tarek El Molla told El Watan in an interview that Egypt would halt gas imports in October. 'It will be the beginning of gas self sufficiency, and we'll begin exporting the surplus in January 2019,' he said. He gave no further details. Egypt aims to be a regional hub for the trade of liquefied natural gas (LNG) after a string of major discoveries in recent years including the giant Zohr......

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