cigarette smuggling

Egypt: decline in Hermes profits

One of the biggest investment bank in Egypt has reported an 18.8 % decline in its net profit for the first nine months which fell to 232.1 million Egyptian pounds ($38 million) from 286 million pounds. EFG Hermes made this announcement in report of its third quarter consolidated financial results. EFG Hermes said its net […]

EBRD Helps Egyptian Company Reduce N2O emissions

The European Bank for Reconstruction & Development has provided an Egyptian petrochemicals producer Carbon Holdings a $ 11 million loan to help this company reduce N2O emissions. As part of its drive to help the Egyptian economy move to more environmentally friendly ways of production, the funds will be used to improve standards beyond the […]

Egypt : Giant $4 billion Suez Canal II project announced

President Al Sisi has announced that a “giant project” will be launched at a tune of $4billion for the construction of a canal parallel to the Suez Canal. The project is expected to increase trade and also double the country’s earnings by more than 100%. The Suez Canal is an important sea route but militants […]