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Shahira Amin

The volcano erupts

The outpouring of rage in Islamic countries isn’t just about a low-budget film insulting the prophet Muhammad. It is the eruption of a volcano that has been simmering for the past eleven years

Shahira Amin

Egypt cellular carriers condemn new tax-per-minute proposition

By Hend El-Behary A wave of condemnation from Egypt’s main cellular carriers Mobinil, Vodafone and Etislat followed Finance Minister Momtaz El-Saeed’s unexpected suggestion to impose per minute taxes on mobile phone calls last Monday. El-Saeed declared the ministry is studying the feasibility of a one piastre per minute fee on every mobile phone call as a …

Daily News Egypt

Turkey keen on investing in Egyptian electricity sector

Several Turkish companies expressed interested in investing in Egypt’s electricity sector, Turkish Ambassador to Egypt, Huseyin Avni Botsali, said according to MENA. Bostali led the talks of the Turkish business delegation in a meeting with the Egyptian Minister of Electricity Mahmoud Balbaa. The meeting focused on the implementation of the memorandum of understanding signed between …

Islam Serour

New holding company for mining industries approved

Minister of Industry and Foreign Trade Hatem Saleh approved the establishment of a mining holding company at the opening ceremony of the National Vision for Mining Wealth Conference held Tuesday. According to government officials, the move toward establishing a holding company for mining is proposed to boost investment in Egypt’s mining sector and expand mining …

Islam Serour

Bite Me Cairo: Trio (Part I) – The Chef

If you’ve seen the film Food, Inc. (2008)—and if you haven’t, you should—you’ll know that industrial farming is ruining the food chain. The health and welfare of the planet, unchecked by government regulations, is being held hostage to corporate greed. It’s up to us to stop it. Not through petitions or demonstrations, rather, we should …

David Blanks

SODIC: no litigation against us

The Sixth of October for Development and Investment Company (SODIC), Egypt’s third largest real estate developer, reported to the Egyptian Stock Exchange that no lawsuits were filed against them by the Lebanese multinational real estate developer Solidere. According to AhramOnline’s report on Tuesday; Beltone, a Cairo-based investment bank, stated that Solidere announced Sunday its plans …

Islam Serour

New floating-rate notes see significant success

By Hend El-Behary The Ministry of Finance has received offers equating to EGP 2.5 billion for the first Floating-Rate Note (FRN) ever issued in Egypt. The move comes in the context of the ministry’s strategy to diversify public debt instruments, according the ministry’s press release. FRN are bonds with a variable interest rate. The adjustments …

Daily News Egypt

gallery

In Pictures: Tahrir Square renovation

Workers are cleaning, paving and planting Tahrir square following the orders of Prime Minister Hisham Qandil who declared his intention to turn the square into a global tourist attraction. According to Qandil, the plans aim to upgrade the square that was the epicenter of the revolution against Mubarak’s rule at the beginning of 2011. Tahrir …

Daily News Egypt

Euromoney Egypt Conference Confirmed for October 9-10

The Euromoney Egypt Conference 2012 will now be held on 9 and 10 October at The Fairmont Towers Hotel, Heliopolis.  Euromoney confirms that HE Dr Hisham Kandil will open the conference. Other government speakers include the Minister of Finance, Minister of Investment and Minister of Communications and IT. Political leaders from many parties will also …

Daily News Egypt

CAPMAS: Trade deficit has risen 48 per cent

By Hend El-Behary Egypt’s trade deficit nearly doubled, reaching EGP 17.6 billion in June, compared to EGP 11.9 billion in the same month last year, a 47.9 per cent jump according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). Exports have plunged by 18 percent, falling to EGP 14.6 billion, a decrease of …

Daily News Egypt

Government promotes public-private partnerships

Driven by the current financial shortfall, the Egyptian government has begun discussions regarding prospective public-private partnerships (PPP). According to officials, PPP are intended to catalyse infrastructure development, of which the country is in desperate need. The Ministry of Finance launched the MENA Project Finance and PPP two day conference yesterday, under the patronage of Prime …

Islam Serour