Devaluation is the sole option in Egypt: EFG Hermes
Non-financial companies that will benefit EGP devaluation will include OTMT, Oriental Weavers, Global Telecom Holding, Lecico
Sara Aggour
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Latest by Sara Aggour
Fitch affirms Egypt’s ‘B’ rating, Dimian responds that economy is ‘resilient’
Introduction of VAT has been delayed, according to agency
EGPC, EGAS to follow-up on annulment of ICC’s rule
On Sunday, IEC said it has no further announcements than the ones made on 6 December, in which it said it will act to collect the awarded amount
High speed train deal to be signed next week: Transportation minister
Price of new metro line tickets will be higher than old lines
EGP 8.5bn to be pumped in new capital, 1.5m acres
The share of the 1.5m acres project will amount to EGP 3.5bn while the New Administrative Capital will acquire the remaining EGP 5bn.
Kiosks offered to metro’s street vendors
Four kiosks built, 20 more expected by the end of the month
Government eyes 9.5% budget deficit, 5.5% economic growth
FY 2016/2017 draft budget will be the first discussed by parliament in five years
Suez Canal announced as economic zone
Former minister Ahmed Darwish to head Suez Canal economic zone
OC brings in $64m in first 3 quarters of 2015
Revenues amounted to $3m and backlog deals’ value is $6.7bn, says OC
EGX’s benchmark index plummets 4.18%, sheds EGP 7.3bn
Domestic and foreign instability drives the market down
HSBC working on several deals in the pipeline worth more than $3 billion:Bank’s CEO
HSBC allocated EGP 260m from latest SMEs fund
Travel agencies offer attractive pricings for safari trips during Christmas season
Operators disappointed by disappearance of ‘guests’ and assure tourists that Sharm El-Sheikh is safe
Police officers guard deserted Sharm El-Sheikh
The officer said shops open around 12 pm, and around 1 pm the shops were open but there was no one to serve.
Hotels lower their prices to cope with crisis
A 25% discount rate is expected to last until February
Ghost Old Market: Salespeople haunted by memories of tourists
“Before the plane incident, we at least had money to buy our needs, now we don’t,” they say
Tourism now worse than January 2011: Sharm El-Sheikh taxi driver
Before the Russian plane incident each driver made at least EGP 700 per day, now we barely make EGP 150, driver says
Russians in Sharm El-Sheikh: Between leaving for safety and staying for living
Egyptians head to the city to improve tourism
Following release of savings certificates, EGX sheds EGP 8.5bn
UK and Russia’s suspension of flights takes toll on stock market
Citibank interested in Egypt’s future bond offerings: EMEA’s CEO
Citibank remains committed to the country and has a continuous dialogue with the Ministry of Finance, says Cowles
Armed forces to assist government bodies in lowering prices: Al-Sisi
Notable steps taken by end of November to address price increases
Misr Hotel Company (MHOT) turns to profit in Q1 2015/2016
Company recorded EGP 16.3m and EGP 5m net profit
31 investment requests submitted to SCA: Mamish
President Abdel Fattah Al-Sisi will provide details for Suez Canal Development Project by next week, Zaki noted.
NUCA to provide initial investment in new capital, 1.5m acres project
Financing the projects will not pressure the general budget
Pound’s value drops by 10 piasters against US dollar
The dollar value had been stable for around 100 days
EGP 310m spent on Karama and Takaful programmes: Social solidarity minister
“We [Egypt] have limited resources and the region we are in are facing some challenges,” Wali said. Egypt is also facing terrorism inside and outside, she highlighted, stressing that bureaucracy still exists and it is “no less dangerous than terrorism”.
Tax increase of flight tickets to bring in EGP 600m: Tax Authority head
Current taxes collected from flight tickets amount to EGP 270m
Spending on parliament campaigns declines by 50%: Campaign official
Unofficial campaigning expected during the second round
Orascom Construction Industries registers EGP 789.6m profit in Q1 2015
Company turns to profit after registering an EGP 207.9m during the same quarter last year
Schneider Electric aims to double growth within next 5 years: Executive VP
Company is following government’s master plan, which is investing in renewable energy, says Frédéric Abbal
Schneider Electric to submit proposal for a South Sinai solar energy project: Company official
Company participated with more than 50% in the country’s emergency plan to increase its generation capacity