CBE set to hold an exceptional dollar auction of $1.3bn on Wednesday for banks in attempt to cover clien’’s outstanding import needs
Latest by Nada Badawi
The wind-farm project is estimated to cost around $580m according to Al-Arabiya Satellite Channel. However, official Egyptian sources could not confirm the size of investments of the prospective project given that it is in its “early stages at the moment”.
While placing emphasis on maintaining tourism partnerships abroad, Zaazou asked foreign travel agencies to push their governments to lift their negative travel advisories for Egypt since the national curfew is not imposed in many beach tourist sites.
On 30 August, the GASC stated on its official website that its Vice President Mamdouh Abdel Fattah is seeking wheat cargoes from the US, Canada, Australia, France, Germany, Russia, Romania and Ukraine.
The company said “innovative healthcare applications and revenue streams” would be replicated across Vodafone’s operating markets as a result of the cooperation between the two parties.
The World Bank has assessed Egypt’s economic growth in the second quarter of the 2012/2013 fiscal year prior to interim prime minister Hazem El-Beblawi assuming office
The report attributed the expansion in liquidity levels to a rise in the money supply, which grew by 20.9% to EGP 57.2bn, in addition to an increase in net local assets, which registered EGP 3.196bn.
The cabinet will raise basic wages of state employees by 10% in an attempt to “allow workers to afford basic life necessities”
The current foreign reserves, necessary to import staples, primarily wheat, registered $14.9bn this June compared to $16.04bn in May.
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
According to a statement on the bank’s website, the discount and repurchasing rates and deposit operations are now lowered to 9.75%.
Moody’s stated the rating action was driven by the firm’s “view that Intesa’s capacity and potentially its willingness to support Bank of Alexandria has been reduced”.
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
Exports registered EGP 16.3bn in the same period last year.
The website was in a testing phase on Wednesday and was scheduled for a full launch Wednesday evening.
“The good thing about starting online shopping in Egypt is that Egyptians are always eager to try something new, they’re curious”
Gleeds Construction Consultancy Egypt says devaluation of the local currency is likely to take its toll on the sector
Ninety-three stocks rose in Sunday’s trading, while 31 dropped and 30 others remained unchanged.
Expert: Value of aid is “economically misleading” and unlikely to raise the foreign reserve level
Egypt receives aid packages from Saudia Arabia, UAE, and Kuwait
The benchmark index closed at 5,359.57 points, down from 5,451.72 on Monday, after Sisi asked for a popular mandate for the army to “confront violence and terrorism.”
Both global companies face fierce competition with Apple, Google and Samsung on smartphones and tablets.
Long history of transportation incidents to challenge new transport minister
The kingdom has reduced entry visas during Ramadan, despite boasting of high numbers of Egyptian pilgrims
The federation is set to meet the newly appointed ministers from the Ministry of Investment, Ministry of Industry and Foreign Trade, Ministry of Supply and Ministry of Housing, Utilities and Urban Development.
The campaign is supported by Egyptian and Emirati Red Crescent societies and will develop Egypt’s infrastructure
The Egyptian government has so far imported 300,000 tonnes of wheat from Ukraine, Romania and Russia.
The shipping line, run and managed by the Sisa Shipping Company, connects the Iskenderun port in Turkey to Adabiya in Port Said, was suspended this week.
An Egyptian delegation from the Ministry of Petroleum and Mineral Resources presented to an Emirati delegation that visited Egypt earlier this month a list of requests, set to include fuel products worth $500mn.
Central Bank Governor Hisham Ramez said that $2bn of Saudi Arabia’s $5bn in aid is expected to arrive shortly in the form of an interest-free deposit at the bank.