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22 Jun 2017

Egyptian telecoms operators receive 4G wireless frequencies: official

Egypt's telecoms operators have received the wireless frequencies needed to deliver 4G mobile broadband networks, an official at the National Telecom Regulatory Authority told Reuters on Wednesday. 'The authority has sent a letter assigning the frequencies to telecommunications companies today,' said the official, who spoke on the condition of anonymity. 'The companies will redistribute the frequencies in preparation for offering the service commercially in the market within two months,' he added. zawya ...

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22 Jun 2017

Egypt closes wheat harvest just short of target at 3.4 m tonnes

Egypt announced the close of its local wheat harvest on Tuesday, having bought 3.4 million tonnes of wheat from farmers, Supply Minister Ali Moselhy said, just short of the government's target of 3.5-4 million.

Egypt,"...

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22 Jun 2017

Egypt sends fuel for Gaza's only power plant as Hamas links thaw

Egypt sent fuel on Wednesday to the Gaza Strip's only power plant to help alleviate an energy crisis that has left the Palestinian enclave's two million residents with less than three hours of electricity per day.

The"...

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22 Jun 2017

Auto sales expected to go down by 50% this year

Experts and observers are bearish regarding auto sales expected this year, as their forecasts ranged from 100,000 to 150,000 units, which are lower by 50% than sales recorded in 2016.

While predicting a 20% surge in sales by the fourth quarter of this year,the honorary chairman"...

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22 Jun 2017

CIT focuses on innovation in its future strategy

The Chamber of Information Technology and Communication (CIT) is adopting a number of key axes in its future strategy, mainly encouraging creativity and innovation among all companies, said Walid Gad, chairperson of the CIT.

He"...

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22 Jun 2017

PepsiCo’s investments in Egypt worth $1bn past two years

The investments that PepsiCo has injected in the last two fiscal years have reached $1bn, according to the company’s general manager, Mohamed Shelbaya, who stressed that the company is betting on investing in Egypt in the coming period.

Shelbaya"...

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22 Jun 2017

MCDR spends EGP 72m for its general assembly in May

Member of the board of directors of Misr for Central Clearing, Depository and Registry company (MCDR), Awny Abdel Aziz, told Daily News Egypt that his company spent EGP 72m in the form of profit distribution for the members of the general assembly in the last few months, as the profits of"...

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22 Jun 2017

Mövenpick Hotels reveals plans for second El Sokhna, Egypt, resort

Mövenpick Hotels & Resorts is ramping up its presence in Egypt, revealing plans to add a new modern integrated beach and golf resort to its portfolio of 16
hotels and river cruisers.

The global hospitality"...

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22 Jun 2017

Egypt seeks FDI boost as its economy struggles

Egypt’s investment ministry has finalised a much-anticipated set of regulations outlining incentives that it hopes will lure back badly needed foreign investors, Investment Minister Sahar Nasr told Reuters yesterday.
Egypt’s economy has been struggling since a 2011 uprising"...

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22 Jun 2017

Egypt doubles subsidized food available on ration cards

Egypt's government has more than doubled the amount of subsided food that millions of ration card holders can purchase on a monthly basis and raised pensions - measures meant to cushion against soaring prices resulting from harsh reforms that aim to revive the country's battered"...

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