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13 Aug 2018

Egypt submits new reconciliation draft omits ‘lifting sanctions’

The deputy head of the Political Department in Hamas, Essam Al-Dalis, said that Egypt submitted a new draft to Hamas on its vision of reconciliation which is different from the one previously approved by the movement. He added that the new paper does not contain the item of “lifting"...

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13 Aug 2018

Sisi inaugurates major power project, national museum in Upper Egypt

Egypt's President Abdel-Fattah El-Sisi has inaugurated in Upper Egypt's Assiut a new barrage and hydroelectric plant as part of a number of mega development projects set to open during the upcoming days.

El-Sisi"...

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13 Aug 2018

Egypt's Real Estate Tax Authority releases booklet outlining conditions for exemption

The Egyptian Real Estate Tax Authority has released a booklet outlining the conditions for exempting privately owned homes from real estate taxes, according to a statement by the Ministry of Finance.

The booklet states"...

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13 Aug 2018

Projection: Egypt to Witness 80 Percent Increase in British Tourists by End of Year

The British newspaper The Guardian revealed on Friday that British tour operators have revealed an increase in non-European tour bookings, led by Egypt, expecting an 80% increase in British tourism to Egypt by the end of this year.

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13 Aug 2018

Egypt's AUC University Almost Deports Yemeni Student Back to Warzone

The American University of Cairo has been under fire during the weekend after news stories circulated online in regard to the deportation of a former Yemeni student. It all started when Najm Al Iryani, the former student, posted a long and detailed Facebook appeal saying he was in the airport being forced to go back to Yemen, with security forces accompanying him until he boards on the airplane. He also posted screenshots of emails exchanged between him and the AUC over the case. Najm mentioned in the post his reluctance toward posting.......

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13 Aug 2018

Egypt’s OUD posts 550 mln pounds contractual sales in H1

Egypt’s property developer Orientals for Urban Development (OUD), affiliated to Oriental Weavers, reported on Sunday 550 million Egyptian pounds ($30.8 million) worth of first half contractual sales.

The company"...

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13 Aug 2018

Suez Cement turns profitable in H1

Mubasher:Suez Cement on Sunday posted it has turned to profitability in the first half of 2018, as compared with the corresponding period of 2017. The Egyptian cement producer logged EGP 250.59 million in net profits for the six-month period ended June, against a loss of EGP 40.61 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX). Sales amounted to EGP 3.96 billion at the end of June, versus EGP 3.11 billion in H1-17, the EGX-listed firm said. As for the standalone business, profits climbed to around......

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13 Aug 2018

Egypt's non-oil private sector grows in July - PMI

Egypt's non-oil private-sector activity increased in July, posting rare positive growth in the first month of the new fiscal year, a survey showed on Sunday. The Emirates NBD Egypt Purchasing Manager's Index (PMI) for the private sector excluding the oil industry rose to 50.3 from 49.4 in June. A reading below 50 indicates a contraction; above, an expansion. It was only the third time Egypt's PMI posted above 50 in almost three years. The survey showed new orders from both domestic and foreign sources helped the expansion.......

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13 Aug 2018

Egypt construction sector 'riding on $348bln projects'

With more than 1,400 active construction projects worth $348.2 billion in Egypt, the country is going through a phase of economic prosperity across the board and especially in the construction sector, said a report ahead of The Big 5 Construct Egypt expo.

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13 Aug 2018

Growing Turkish Lira Crisis Drives Investors to Seek Safe Haven in Gold

(AETOS Wire)-- The currency crisis engulfing the Turkish Lira is likely to intensify this week as the contagion becomes more widespread around the world. The volatility on the currency exchanges has led investors to pursue the stability"...

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