Latest in Highlight
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TAQA power launches Egypt’s first privately owned power plant
E-Styrenics is building Egypt’s first polystyrene production line with $400 million investment and a capacity of 200,000 tones/year
Nielsen: Egyptians concern over the economy rose by 31 per cent from Q2
The majority of Egyptians believe the economy is in recession but are optimistic that the economy will recover during the coming 12 months
Seesawing foreign reserves since 25 January uprising
The international reserves are used to finance the country’s exportation
Misr Al-Mostaqbal leading mutual fund market
An equity fund with a civic-minded twist outperforms the rest of the market
Customs bottlenecked due to outdated scanning equipment
Minister of Finance Momtaz Al-Saeed, has ordered the formation of two committees, legal and technical, to review contracts with an American company providing X-ray scanning equipment to the Egyptian Custom Authority. He has also requested an expedited submission of reports assessing the functionality, or lack thereof, of such devices. In 1998, the Ministry of Finance …
Dana Gas defaults on $1 billion loan
Egypt’s political instability pushes the UAE natural gas producer to default; restructuring talks underway
African Development Bank: One billion opportunities for Africa
Africa will not reach the majority of the millennium development goals set for 2015
IMF team back in town
Technical delegation resumes negotiations over loan
Cement prices jump EGP 50 per tonne
Price per tonne fell to less than EGP 460 during August, and remained between the range of EGP 450 to EGP 500
Vimplelcom plans to give up OTH African units
The Vimpelcom move is reportedly part of a strategy that targets more mature markets in Russia and Italy
Rebel Economy Wrap
Human vs machine, IMF in Cairo, interest payments on Egypt debt
EGX30 closes above resistance level
The standard stock exchange index, EGX 30, ended Monday’s session above the resistance level of 5,800 points for the first time this month amid expectations of a continuing increase. The index closed Monday at 5,893 points compared to 5,793 points on Sunday, gaining 1.73 per cent, while the EGX70 index for small and medium sized …
Schneider Electric inaugurates new line for electric panels
Schneider Electric Company has announced a new line of production for Okken electrical panels
EGPC struggles to stay afloat
The beginning of this fiscal year has seen the EGPC balancing debt to banks and financial obligations to foreign companies
Plans to erect first petrochemicals industrial parks
IDA has high hopes for parks and new holding company
Rebel Economy Wrap
Egypt must stop crying wolf, Hussein Salem’s seedy world
Jordan and Egypt move toward renewed natural gas exportation
Hope to overcome issues of pipeline sabotage and Egyptian domestic demand
Italy-Egypt Forum to be launched in November
The forum will be attended by top-ranking government officials including ministers of foreign trade and industy, agriculture, energy and electricity, investment and transportation
Egypt ranks 109 on ease of conducting business
In the same ranking, Georgia, Rwanda, Belarus, Burkina Faso and Macedonia came before Egypt
Rebel economy wrap
Egypt debt default, Algeria lifeline, green energy thinking
Egypt and Cyprus to jointly explore Mediterranean deepwaters
The Cypriots have asked to use Egyptian expertise in reaching gas and oil discovery agreements, especially in deep water, and also in the seismic surveying.
SEC provides New Valley with solar energy
The project aims to provide Abu Monkar village with 24 hours continuous electric current via clean and environmentally friendly electric sources
Qandil visits Algeria for economic talks
Prime Minister Hesham Qandil arrived yesterday in Algeria for a three-day visit amidst speculative press reports over the visit’s agenda. State-owned Middle East News Agency (MENA) reported the objective of Qandil’s visit to Algeria is to hold talks with the Algerian government over solidifying economic relations and boosting mutual investment. “During his visit to Algeria …
Investor and state interests in conflict over government land-use proposal
A policy under study by the Ministry of Investment would only allow investment in government land under a usufruct system.
‘Global Telecom Holding’ brand awaits the approval of OTH’s shareholders
The board members proposed the company rebrand itself as ‘Global Telecom Holding,’ as a part of the Vimpelcom acquisition and demerger deal, Orascom announced Sunday.
Egypt and Iran to foster trade ties
The Iranian official said exchanging agricultural products will be the start of improved relations between Iran and Egypt.
Electronic signature technology to be applied November
The banks as well as the stock market are ready to implement electronic signature technology, which is to be inaugurated by November, capital market expert, Moustafa Badra, told the Daily News Egypt. An electronic signature can be as simple as a typed name or a digitised image of a handwritten signature; it can facilitate the …
Monescope Egypt: Domestic liquidity grows 8.9% in August
Monescope Egypt, a monthly tracker of monetary developments attached to Belton Financial, reports that M2 grew 8.9 per cent in August, compared to 8.1 per cent in July.
Rebel Economy Wrap
Central bank meeting, interest rates explained as Egypt cuts corners
Libya invites Egyptian investors to help in its reconstruction
The $65 billion worth plan will be executed within a 10 year time span according to the Libyan official, as reported by Al-Ahram.