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Financials and Investment News in Egypt

PM Discusses Strategic Plan on Roads, Bridges Projects
6/29/2014 - Prime Minister Ibrahim Mahlab held a meeting on 28/6/2014 to discuss the strategic plan on the roads and new bridges projects with the attendance of the ministers of transport and housing as well as ...
PM Inaugurates First Phase of Pyramids Plateau Development
6/29/2014 - Prime Minister Ibrahim Mahlab made a tour of the Pyramids area in Giza on 28/6/2014. He was accompanied by the ministers of tourism, and antiquities and the governor of Giza.

During the tou...
Egypt Saves LE 41bn after Cuts in Energy, Electricity Subsidies
7/2/2014 - Finance Minister Hani Qadri said on 1/7/2014 Egypt has saved some LE41 billion in its 2014-2015 budget after the government reduced subsidy going to energy and electricity products.

Subsidy...
Hany Dimian: New Rules to Combat Tax Evasion
7/5/2014 - Minister of Finance Hany Dimian said introducing amendments to some provisions of the tax law on individual's annual income allow inserting articles to combat tax evasion.

The Minister adde...
Sisi Issues Decree on Raising Sales Tax on Cigarettes, Liquors
7/7/2014 - President Abdel Fattah El Sisi on 6/7/2014 issued a decree to raise the sales tax on cigarettes and liquors.

Under the decree, taxes on locally-produced cigarettes will be increased by 50 p...
Germany to Help Egypt in Eco-friendly Industries
7/7/2014 - Minister of State for Environmental Affairs Khaled Fahmy said on 6/7/2014 Egypt is cooperating with Germany towards building eco-friendly industries in a bid to improve the environment.

Fah...
Armed Forces Offer Subsidized Goods, Provide Transportation
7/7/2014 - “The Egyptian Armed Forces will provide subsidized products and will run its public transport buses fleet starting July 7,” Armed Forces official spokesperson Mohamed Ghoneim said on 6/7/2014.

...
Mahlab Reviews Projects of ’Egypt Support Fund'
7/9/2014 - Prime Minister Ibrahim Mahlab met on 8/7/2014 with the board of trustees of the 306306 Egypt Support Fund to discuss solving the problems encountering the development projects carried out by the Fund....
MoU Inked between Egypt, FAO on Agriculture, Food Security in Africa
7/9/2014 - Foreign Minister Sameh Shoukri inked a memorandum of understanding (MoU) with the director general of the UN Food and Agriculture Organization (FAO) to establish cooperation in the field of agricultur...
Egypt’s Fuel Price Hikes Positive for Credit Profile
7/9/2014 - Fitch Ratings said on 8/7/2014 that the recently-announced fuel price hikes are an important step toward reducing subsidies that contribute to Egypt's substantial fiscal deficit - a key rating weaknes...
Egypt's Supply Ministry Says has Enough Wheat to Last for Six Months
7/10/2014 - Egypt, one of the world's largest wheat importers, said it had enough wheat to last for six months.

"Through what we have purchased locally and our import contracts, we now have enough whe...
Saudi Arabia Largest Importer of Egyptian Goods
7/10/2014 - Saudi Arabia ranked first among countries that imported Egyptian goods during the first five months of 2014 with more than LE6 billion worth of goods, according to a statement by the Saudi embassy in ...
Mamish: Suez Canal Faces Promising, Difficult Time
7/12/2014 - The coming period in the Suez Canal Authority's history is promising and difficult at the same time, SCA Chairman Mohab Mamish said.

The SCA is getting poised to apply a comprehensive plan ...
Abdel-Nour: State Offers 148,000 Jobs
7/12/2014 - Minister of Industry and Trade Munir Fakhry Abdel-Nour said that the national program for training has availed during this fiscal year 2013-2014 some 148,543 job opportunities in 866 various companies...
New State Budget Takes into Account Low-income Brackets
7/12/2014 - Minister of Finance Hani Qadri Demian said that the new state budget takes into account the low-income brackets and the poor.

The Minister noted that the reason behind cutting off subsidy o...
Alexandria Port Returns Hit EGP 1 billion
7/12/2014 - Transport Minister Hani Dahi said on 11/07/2014 that the Port of Alexandria's returns jumped this year to 1.26 billion pounds with a net profit of 370 million pounds.

The minister made the ...
20 New Subsidized Items to be Displayed on Market in August
7/12/2014 - Minister of Supply and Internal Trade Khaled Hanafy announced that 20 new subsidized goods would be on the market starting the first of August, making the total number of subsidized goods 40 items.
Egyptian Government Starts to Reclaim 4 million Feddans
7/12/2014 - To bridge the food gap, the government started to implement the directives issued by President Abdel Fattah El Sisi to reclaim four million feddans nationwide.

This came during a meeting of...
Ashraf Salman Meets Italian Ambassador
7/13/2014 - Investment Minister Ashraf Salman on Sunday met with Italy's Ambassador in Cairo Maurizio Massari.

They discussed ways to boost bilateral ties in the fields of energy, agriculture and foods...
Ibrahim Mahlab Visits Several Projects in Luxor
7/13/2014 - Prime Minister Ibrahim Mahlab made a visit to Luxor on 12/7/2014 where he inspected several projects.

He also inaugurated a new solar energy plant in Luxor. The new plant generates 100 kil...

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