First Independent Mena Newspaper
Egypt will be receiving the remaining $1billion within two months from Turkey after satisfying the conditions attached to the $2billion loan agreement concluded last year to support its budget deficit. Turkey’s Eximbank will be handling the transactions. The money is needed by Egypt to suppress its problems as the government continues to run out of […]
Eight oil and gas exploration projects have been awarded by Egypt to several companies in a statement released from the ministry of petroleum. The decision followed the reception of 13 offers after an international call for tender concerning prospective acreage. Among the companies are British Petroleum (BP), International Egyptian Oil Company (IEOC), a subsidiary of […]
After signing a strategic partnership agreement in February, Huawei and Etisalat Misr have sealed a new contract that will provide the latter with the latest BTS3900 radio base station technology. The deal is meant to improve quality and speed to the Etisalat Misr’s radio network. The BTS3900 will help the Egyptian company to save expenditures […]
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 […]