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Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.
One of the airstrikes targeted the office of a Hamas commander, but no casualties reported, a Palestinian security source told AFP.
Police forces reportedly encourages citizens to report on each other and send a text message to locate women who don’t wear hijab
Prices of the company’s products to increase by EGP 1 after the approval of new tax, says Fouad
Egyptian market unqualified to receive electric cars, hybrids
Careem stated that the services of “Go Mini” and “Sawa” have been lunched in Cairo and other cities through a convenient transport experience, at competitive prices for users of Careem in Egypt, according to Masrawy.
The price of a litre of octane petrol 92 increased to EGP 8, up from EGP 6.75. Moreover, the price of octane petrol 80 and diesel fuel both increased from EGP 5.50 to EGP 6.75.
Fuel prices to be reviewed quarterly according to crude oil prices in hedging contracts
New price for octane 80 petrol, diesel set at EGP 6.75, octane 92 petrol EGP 8, LPG cylinder to EGP 65
Buying selected stocks amid possibility of correcting index towards 13,900
State budget bore $5 difference in price of barrel for JP Morgan, Citibank
Expenditures to improve public services this FY amounted to EGP 182bn, says petroleum ministry
Upper Egypt receives about 7.5m tonnes of crude oil, butane, and petroleum products through pipelines annually, the Chairperson of Petroleum Pipeline Company (PPC), Abdel- Moneim Hafez, said He pointed out that investments worth EGP 3.6bn were injected into Upper Egypt, including a project to increase the capacity of butane to Lower Egypt governorates from a …
Country imports around 35% of domestic consumption of petroleum, says industry source
Authorities planning to hedge oil prices, but IMF advised caution, says report
More difficult external environment poses new challenges on country’s economy, says Lipton
In its third review under the extended arrangement in accordance with the Extended Fund Facility issued in July 2018, the International Monetary Fund (IMF) assured that the ongoing energy subsidy reform continues to play a key role in fiscal consolidation. It clarified that the fuel subsidy bill has decreased from 3.3% of the GDP in …
To meet the demands of the IMF to grant Egypt the $12bn loan, curb the budget deficit, and to deal with the increasing inflation rate, fuel subsidies underwent non-recurrent stages to be phased out, toward being fully suspended in 2019 according to a subsequent 2018 statement for the Minister of Petroleum and Mineral Resources, Tarek …
Agency injected EGP 152m in past years to convert 30,500 cars, including 25,500 transport cars, 5,000 passenger cars
New adopted rules call for average fuel efficiency across manufacturer’s fleets to reach equivalent about 92 mpg by 2030, up from 57 mpg in 2021
Gasoline, diesel, butane account for largest part of imports, imports will be cut in 2019, as several new refining units in Egypt spring into action
“It is first step, but we will not settle for crumb,” said Benjamin Cauchy, one of leaders of protests
The oil sector has been able to raise the value of its foreign exports of fuel to $3.4bn between January and July 2018, up from $2.5bn in the same period in 2017, up by $883m. According to the CAPMAS, total crude oil exports reached $1.1bn in that period, against $1.6bn in that period of 2017, …
Increase in oil prices globally. linking new wells to production are reasons: official
20% increase in barrel price than estimated by state budget
Total fuel imports from January to May 2018 rose to about $5.035bn compared to $4.924bn in the January-May 2017 period, with an increase of nearly $111m. According to the latest statistics of the Central Agency for Public Mobilization and Statistics (CAPMAS), total imports of crude oil amounted to $1.483bn, during the first five months of …
Cairo held talks between Hamas, Fatah to reach reconciliation, long-term ceasefire with Israel
Crossing is only one between Gaza, Israel for goods transport, along with Egypt’s Rafah
Exports are projected to reach $53.1bn in current FY 2018/2019