Egypt has successfully restored foreign investors’ confidence in the economy, says UAE’s minister of state and CEO of ADNOC British ambassador to Egypt John Casson and UK trade envoy Sir Jeffrey Donaldson attended the first ever Egypt Petroleum Show (EGYPS), which is the largest oil and gas industry event to take place in North Africa,[…]

Foreign exchange and inflation rates exceeded the IMF’s preliminary predictions; IMF may have miscalculated the foundations of the Egyptian economy   Mission chief for Egypt and advisor to the International Monetary Fund’s (IMF) Middle East and Central Asia Department Chris Jarvis discussed in a press briefing the details of the agreement between Egypt and the[…]

Egypt’s economy will grow by 4% during this FY, says Planning Minister The government raised its estimate of gross domestic production (GDP) to EGP 3.4tn, up from EGP 3.22tn estimated before for the current fiscal year on the back of the Egyptian pound’s flotation. Minister of Planning Ashraf El-Araby told Daily News Egypt that the[…]

Seven companies make their bids The Ministry of Electricity contracted with Belgian consulting office Tractebel Engineering consultancy company to assess the most suitable technical and financial offer across seven presented bids to establish a coal-fueled power plant that will cost $10bn with a 6,000 MW output. Sources at the ministry said that the consulting office[…]

20 more projects will be implemented by the end of the month to link 20,000 more units  Minister of Housing Mostafa Madbouly said that the ministry has completed 100 projects to link facilities to 53,000 residential units in 18 governorates, as part of the social housing project. The minister said that 20 more projects will[…]

Egypt and Russia have agreed on a number of items included in the Dabaa nuclear power plant contract, including the items on credit packages and bank guarantees. Government sources told Daily News Egypt that technical negotiations have been concluded, leaving only the distribution of commitment and minor commercial and financial details to negotiated. After reaching[…]

After its meeting on Monday with representatives of the automotive feeding industries companies, the parliament approved postponing the automotive industry strategy indefinitely. A senior parliamentary source at the parliament’s Industry Committee said that postponing the negotiations related to the strategy is pending more hearings and discussions with automotive companies and feeding industries. He added that[…]

The Ministry of Petroleum plans to implement 11 projects to develop gas fields in cooperation with foreign partners. Investments in these projects are expected to total $17.5bn. They aim to offset the natural decay rate in the productivity of fields and increase production rates. A source at the Ministry of Petroleum told Daily News Egypt[…]