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Tarek Nour Communications aspires to make EGP 100m in Ramadan

By Mohamed Fawzy Veteran advertising agency Tarek Nour Communications hopes to achieve EGP 100 million in advertisements sales during the month of Ramadan. Tarek Makhlouf, the managing director of the company, said that if the company is able to meet its Ramadan target, it will compensate for recent losses, particularly in light of the decision …

Daily News Egypt

Government to settle $318m worth of external debt

The Ministry of Finance in co-operation with the Central Bank have managed to allocate $318 million, which represents the value of public debt instalments owed by the government for bonds issued abroad in Egyptian pound  in 2007. A high-ranking source in the Ministry of Finance has affirmed the government’s commitment to the settlement of all instalments owed at …

Daily News Egypt

IT sector calls for more government attention

Information technology (IT) experts have said that the IT sector in Egypt has not significantly contributed to the national economy because the government has neglected its principle components. The sector has played an important role in other developing economies such as in India, Malaysia, and Brazil. The experts viewed the Ministry of Communications and Information …

Daily News Egypt

72-hour deadline passes for hostages in Sinai

As the 72-hour deadline for the American and Egyptian hostages passes, the abductor threatens to harm them if his uncle is not released from prison. Police said authorities were engaged in ending the standoff.

Hend Kortam

Foreign reserves on the threshold of stabilisation

Foreign reserves on the threshold of stabilisation

Nasser Youssef Mokhtar Youssef, member of the Board of Directors with the United Bank, stated that stabilising Egypt’s foreign currency reserves was a positive sign and that expediting the transitional period is an important factor to regaining economic stability. “The increases witnessed during the previous three months were largely incidental, Youssef explained, noting that ‘yellow …

Daily News Egypt

Governmental efforts to aid struggling factories

By Mohamed Ayyad The government intensified efforts to address the crisis that halted the operation of 650 factories which resulted from outstanding debts owed to banks with a value of EGP 817 million. Mohamed Eissa, Minister of Industry and Trade, stated that the cabinet agreed to help the stopped factories that have experienced technical, administrative, …

Daily News Egypt