Latest in Tag: Market Highlight

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Latest in Tag: Market

Sinai event impedes tourism revival efforts

By Abdel Razaq El-Sheweikhy Tourism investors expressed fear that the terrorist attack in the Sinai will negatively impact tourism in Egypt, particularly in southern Sinai. They predicted that hotel reservations would decline in that area the coming week by 40 percent. Samy Soliman, head of the Taba and Nuweiba Investors Association, said that the effects …

Daily News Egypt

Pharmacists reject price cuts

By Basma Tharwat and Nourhan Yasser The Pharmacy Owners’ Division (POD) of the Cairo Chamber of Commerce (CCC) has rejected a price modification resolution from the Ministry of Health. A statement by the Egyptian Pharmacists Syndicate (EPS) required pharmacy owners to implement resolution 499 of the Ministry of Health regarding medication pricing. Adel Abdel Maksoud, …

Daily News Egypt

Minister of Industry: The economy is capable of overcoming the current stage

By Salah El-Monoufy Hatem Saleh, Minister of Industry and Foreign Trade, confirmed that the Egyptian economy is capable of overcoming the current stage, particularly because Egypt has a strong infrastructure, which makes high growth rates possible within the coming period. In a statement, the minister said that during the coming period the ministry will focus …

Daily News Egypt

Exchange rate of USD reached a new peak

The price of U.S. dollars in Egyptian pounds reached record rates last Sunday. The exchange rate increased at exchange to EGP 6.07 for buying and 6.08 for selling for the first time in 7 years, compared to 6.06 for buying and 6.07 for selling the day before, according to the Central Bank of Egypt (CBE). …

Daily News Egypt

The Arab African Bank launches e-business

By Islam Serour Capitalising on the internet boom in Egypt, the African Arab Bank (AAIB), in co-operation with Amadeus and Cloud Lock International, has announced the launching of a more secured online payment gateway through its Click2Shop service. “The new product provided by the AAIB and supported by Wallety security system will diminish the risks …

Daily News Egypt

Transportation authorities meet new Minister to discuss solutions for sector’s ills

The Minister of Transportation, Dr Mohamed Rashad, held a meeting with directors and officials of transportation authorities, companies and the ministry, to study plans for the coming period. The directors shared their vision for the future, stressing the necessity of providing and developing infrastructure. They also discussed the importance of reshaping transportation so that it …

Daily News Egypt

Vodafone Egypt nets EGP 2.9b during Q2

Vodafone Egypt’s revenues amounted to EGP 2.9 billion by the end of the second quarter, compared to EGP 2.8 billion in the first quarter, with a growth rate of 2.5 percent. The domestic company acquired 2.7 percent of Global Vodafone’s revenues with a value of £10.7 billion. Vodafone Egypt’s Internet subscribers reached 5 million users …

Daily News Egypt

Experts advocate real estate companies to partner up

By Ahmed Samir Political disturbances in Egypt affected investment in a number of sectors, particularly the real estate sector, which has suffered from a lack of liquidity and capital flow. Developers have begun to search for greater liquidity, either through joint ventures and partnerships or merging with other companies in order to increase companies’ capital. …

Daily News Egypt

Egypt among the group of most optimistic countries about their future Global Consumer Confidence declines three points to 91 in Q2 2012

Consumer Confidence among Egyptians reached 103 points in Q2 2012, up 6 points from last quarter, which is the highest increase in MENAP.  Consumer Confidence is the highest since the survey was established in 2005 – placing Egypt among the group of countries most optimistic about their future. Global consumer confidence declined three index points …

Daily News Egypt

Sales in automobile spare parts market take a dip

By Inaam El-Adawi Dealers in spare automobile parts have been assured that that their trade will not diminish as car companies launch their 2013 models, even if the market is stagnating. Desouky Sayed Desouky, Spare Parts Division Director at Cairo Chamber of Commerce (CCC), said that new parts will only begin to impact the market …

Daily News Egypt

Fresh strategy for developing food and agricultural industries

By NihalMounir Mahmoud Eissa, Minister of Industry and Foreign Trade, said that a comprehensive strategy to develop food and agricultural industries is currently being finalised. The strategy is in a similar vein to a group of Ministry of Industry and Foreign Trade strategies to develop the Egyptian engineering and textiles sectors, which included mechanisms for …

Daily News Egypt

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