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Latest in Egypt

Qatari loan to Egypt secured

By Islam Serour President Mohamed Morsy announced Sunday a $2 billion loan from Qatar to the Central Bank of Egypt (CBE), after meeting with the Qatari Emir Sheikh Hamad bin Khalifa Al-Thani in Cairo. In his first visit to Egypt Khalifa Al-Thani agreed to supply the Egyptian economy with the foreign currency deposits to bolster …

Daily News Egypt

Finance Ministry issues EGP 4.5b in treasury bonds

By Asmaa Nabil The Central Bank of Egypt (CBE) is to issue treasury bonds today valued at EGP 4.6 billion. The first treasury bond is valued at EGP 1 billion, to mature in 91 days, and the second is valued at EGP 3.5 billion to mature in 266 days. The Ministry of Finance (MOF) also …

Daily News Egypt

SMEs receive special treatment from the National Bank of Egypt

By Walid Abdelazeem The National Bank of Egypt (NBE) revealed that by the end of 2011, the bank will have financed small and medium enterprises (SMEs) to a total amount of EGP 1.5 billion. Director of SME Finance Department at NBE, Soha Soliman, stated that funding for the SMEs portfolio amounted to EGP 3.3 billion …

Daily News Egypt

Real estate developers invest EGP 500m in New Cairo

The Council Director of the New Cairo District, Kamal Fahmi, revealed that 13 real estate development companies have benefitted from the financing leeway put in place during Prime Minister Ganzouri’s tenure, the facilitation for settling the outstanding debts for the lands acquired by the city. Fahmi stated that 13 companies paid EGP 500 million, which …

Daily News Egypt

Ministries to launch an Intelligent Transportation System collaboratively

By Mohamed Radwan The Ministries of Communications and Transportation plan to restructure the transportation system in Egypt by launching an Intelligent Transportation System (ITS) in a number of Egyptian governorates. Preliminary cost estimates put the project at EGP 1 billion to be implemented over two phases. A Ministry of Communications official said that the Ministry …

Daily News Egypt

Qatar delegates meet in Egypt

The Emir of Qatar, Sheikh Hamad bin Khalifa Al-Thani, visited Cairo for the day Saturday to congratulate President Mohamed Morsy on his recent election victory. It was the first time the Emir had visited Egypt since Morsy took office. After they met with Egyptian officials, the Emir and his delegation attended an iftar hosted by …

Basil El-Dabh

Constitution drafting due September

Spokesman for Egypt’s Constitutional Assembly, Wahid Abdel-Maguid, has announced the assembly will conclude the drafting of articles in September and will then have the drafting committee vote on them. He also told Shorouk newspaper that the constitution would then be adopted in the event of a consensus or voted on if contentious issues arise. He …

Basil El-Dabh