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[…]
Egypt’s economy faces both urgent and long-standing structural challenges. The $12 billion IMF loan to Egypt will support the authorities’ comprehensive reform plan. The program aims to stabilize the economy, promote growth and jobs, strengthen social safety nets. International Monetary Fund
The Egyptian authorities have embarked on an ambitious reform program to put the country’s economy on a sustainable path and achieve job-rich growth. The liberalization of the exchange rate and the adoption of the second phase of the fuel subsidy reforms are important measures in the authorities’ reform agenda. The IMF Executive Board will[…]
بلغت حصيلة البنك الأهلى المصرى 9 مليارات جنيه من الاكتتاب فى الشهادات الادخارية، التى رفع الفائدة عليها بنهاية يوم أمس الأحد. قال يحيى أبوالفتوح، نائب رئيس البنك، إن البنك جذب نحو 8 مليارات جنيه خلال يوم واحد، وذلك نتيجة ارتفاع العائد على الشهادات الادخارية والذى وصل إلى 20%. أضاف لـ«البورصة»: أن البنك قام بفتح اعتمادات[…]
The Egyptian Exchange (EGX) closed on Monday on high rises in the third session following the flotation of the Egyptian pound. The main index EGX30 closed with a hike of 5.38%—the highest rise since February 2010—registering 9,852.7 points. The market saw trading valued at EGP 2.1bn, which is the highest since April 2010, with 688.9m[…]
For a long time now, since the 25 January Revolution in 2011, the successive governments have come to office knowing that Egypt needs to implement reforms in order to attract new foreign investments to create job opportunities and increase its gross domestic product (GDP). When President Abdel Fattah Al-Sisi came to office in 2014, he[…]
The executive board of the International Monetary Fund (IMF) is set to hold a meeting on Friday, 11 November, to discuss, review, and decide on Egypt’s request for a loan of $12bn over three years, according to a press release from the Central Bank of Egypt (CBE). In the statement, CBE governor Tarek Amer said[…]
الشركات تطالب بتلقى الودائع وزيادة الأدوات لتقليل تكلفة التمويل وضمان بقاء الصناعة سامى: الرقابة المالية تستهدف تطوير الصناعة على مراحل وهناك فرصة لمضاعفة حجمها الحوشى: البنية التحتية غير منظمة ويجب ربط بعضها البعض موسى: تجاربنا مع التاكسى الأبيض ناجحة رغم مخاطر الثورة خليفة: 20% من البالغين يمثلون فجوة الشمول المالى 4.3 مليار جنيه حجم[…]