First Independent Mena Newspaper
According to an official at the Egyptian finance ministry, Libya will be giving Cairo a loan to ease the pressure on the government. It will be offering a $2 billion five-year loan after an agreement was signed to formalize the deal. The loan will be interest free for Egypt with a 3year grace period. The […]
The Egyptian government has made another U-turn after a lot of pressure from investors. The government decided to unveil a 10% tax on stock dividends and investment gains from takeovers in December 2012, but the decision wasn’t welcomed by investors. The government says it is part of the austerity measures that should be implemented to […]
At the ongoing conference under the theme “Saving the Egyptian economy, towards an alternative program,” the Al-Tayar Al-Sha’aby party has claimed that they have an alternative economic model to remedy the country’s situation. Hussein Abdel Ghani, a member of the party, criticized “the current state of the country” and blamed the government for “no suitable […]
The president of the Board of Directors of Cargas, Tariq Al-Dagwa, alongside the secretary general Ghada Wali of Social Fund for Development (SFD) have inked an accord to promote natural gas in Egypt by converting more vehicles. In the concluded EGP 5million agreement, Cargas is tasked with the construction and conversion of 1,000 new vehicles […]
Alex Bank-Intesa San Paolo witnessed the March Entrepreneurs Festival and was impressed with the potentials showcased by the participants and their proposed projects. The festival which was held at the KEY Career Development Centre office was hosted by the Egyptian Junior Business Association (EJB) in cooperation with community service and environmental development organizations from several […]
Many foreign political analysts seem increasingly are concerned over the geostrategic implications of the rapid rapprochement between Egypt and Iran, two former foes that are apparently becoming new friends in the Arab Spring era! They are currently busing working to enhance their relationship and warm up their once frosty ties. Few days ago, the two […]
With its economy showing no sign of recovery and the inflation on the rise, Jones Lang LaSalle has stated that property prices have been escalating especially in two large well known Cairo satellite cities; New Cairo and 6th of October City. In its latest report, the two cities have witnessed an average price rise of […]
It was not a joyful day at the Egyptian Exchange just like any other day since the beginning of the week. Tuesday was among the worst as losses continue to increase with the Egyptian Exchange (EGX) 30 benchmark index dropping by 1.95% to reach 5,129 points at the end of the session compared to 5,231 […]
A total of 443,535,902 shares of the ‘’National Société Générale Bank’’ (NSGB) have been acquired by the Qatar National Bank (QNB) at a selling price of EGP 35.65 per share. The 100% acquisition of the shares cost the Qatari bank EGP 16.142bn. The NSGB is a subsidiary of the French Société Générale Bank in Egypt. […]
After the arrest of several Libyans in Egypt amongst which is Ahmed Qadhaf al-Dam, Khadafi’s cousin who served as Egypt-Libya relations coordinator under Khadafi’s regime, who is wanted in his native country. Libya has been demanding for their extradition during the past week, has now come up with a bulky incentive to Egypt. According to […]