Government raises drinking water bills in August
The first consumption segment costs 45 piastres per cubic metre, while the fifth costs 215 piastres per cubic metre
Mohamed Ayyad
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Latest by Mohamed Ayyad
Zohr fields to begin production before end of 2017
Total expenditure in the Zohr field amounted to $3.8bn
Government signs contracts with 6 companies in SCZone worth EGP 3bn
A factory will be opened in December, will cost EGP 5.5bn, and will produce 830,000 tonnes of billet, 550,000 tonnes of steel bars
Supply Ministry to deduct late dues to bakeries from insurance charges
A committee was formed to calculate money owed to each bakery according to the documents provided by each of them
Governmental decree to appoint Farid as chairperson of EGX, Omran for EFSA
Developing the EGX plays a pivotal role in the economic reform programme, according to Nasr
Egypt’s new subsidised bread system to include liberalisation of flour, diesel prices
The government aims to import 7 million tons of wheat in 2017-2018
Government approves loans worth EGP 21m for 148 customers in calf project
753 customers applied to purchase 13,000 calves worth EGP 137.7m
Increase in ADSL internet prices in September
14% increase on ADSL internet bills in all companies
SCZone targets investments worth $30bn within five years: Sahar Nasr
Grants received by the ministry are directed to projects in neediest governorates
Supply Ministry proposes reducing citizens’ share of subsidised bread from five to four
The proposal includes doubling bread points by 100%, the ministry confirms that average daily consumption is 2.5-3.8 loaves
Al Rajhi aims to increase its agricultural investments in Egypt to EGP 2bn in 5 years
Egypt Kuwait Holding Company is looking for new investment opportunities to increase domestic production and reduce imports: Moataz Al Alfi
New gas projects to double Egypt’s production in 2020: Petroleum Minister
New refining projects over the coming 4 years will bridge the gap of oil, investments amount to $8.3bn
Egypt’s FDIs rise by 12%, reaching $6.6bn in first 9 months of FY 2016/17
Egypt attracted $5.9bn in foreign direct investments in the first nine months of FY 2015/16
Flat6Labs, Misr Entrepreneurship intend to invest EGP 10m in startups
Investment Ministry allocates booth at the Investor Service Center for entrepreneurs, stresses priority is for small investors
Inflation stabilizes at 30.9%, unchanged from May
Curbing inflation is a priority and will lead to lower interest rates: Minister of Finance
Unemployment among youth at 24%, priority is supporting infrastructure in most vulnerable governorates: Nasr
Youth, investment ministries cooperate to provide employment opportunities for young people
Parliament approves FY 2017/18 budget, implementing it pending president’s approval
Expected deficit at 9.1%, economic growth at 4.6% to adjust government finances
Nasr forms two units to solve investors’ problems and follow up on international indicators
Decision aims to improve environment, provide better services, and remove obstacles
Banking system receives $54bn since pound flotation in November 2016
Proceeds are distributed as $25bn funding, $9bn government debt instruments investments, $20bn concessions and remittances from Egyptians abroad
Orascom Construction signs contract to build power station in Assiut
New plant to be fueled with steam, with a capacity of 650 MW, worth $100m
GE to turn Egypt into manufacturing hub over upcoming years
Government reforms are bold but require faster pace
Government raises fuel prices, gasoline 92 surges to EGP 5
Measure comes within the economic reform programme to rationalise spending and finance social protection of low income citizens
Government allocates EGP 75bn social security package to protect lower-income groups: El-Garhy
The package benefits owners of salaries, pensions, beneficiaries of Takaful and Karama, holders of ration cards
GE signs $575m agreement to develop railway infrastructure in Egypt
The company will supply 100 locomotives and 15-year parts agreement to support Egypt’s transport and infrastructure
Siemens considers establishing training centre in SCZone, developing transport sector
Egypt is open to all investments and keen to benefit from German expertise, says Nasr
Ambitious plan to restructure public sector companies during 2016-2018: Minister of Planning
EGP 10 billion allocated to infrastructure and public utilities across Egypt during 2017/2018
Egyptian economy on right track, positive signs of economic recovery: Minister of Planning
Egypt aims at doubling growth rate by 2021, increase the GDP per Capita to $4,000
15 contracts ratified for investing in the SCZone: worth nearly EGP 1bn
Companies include Siemens, Mediterranean Fertilizers Company and El Mahaba for Packaging and Packing Materials
Increase in stamp and tax collections in next budget: government source
Recent increases reduce the budget deficit and contribute to the control of debt, but increase pressure on citizens, Hani Tawfek
Sahar Nasr works on speeding up grant for investment licences
The government is committed to implement the economic reform programme