September 24th, 2018 | 0 commentsEgyptian Foreign Minister Sameh Shoukry met on Saturday with the UN's Special Envoy for Syria Staffan de Mistura on the sidelines of the 73rd Session of the United Nations General Assembly in New York, spokesman for the foreign ministry Ahmed Abu Zeid said. The two sides discussed the recent developments in Syria and ways of reaching a po...
September 24th, 2018 | 0 commentsEgyptian Foreign Minister Sameh Shoukry met on Saturday with the United Nations Development Programme (UNDP) Administrator Achim Steiner, along with Bahraini counterpart Shaikh Khalid bin Ahmed Al Khalifa, on the sidelines of the 73rd Session of the United Nations General Assembly in New York. Shoukry hailed the bilateral relations betwee...
September 24th, 2018 | 0 commentsAn Egyptian criminal court sentenced the chief of the now-banned Muslim Brotherhood group and dozens of others to life in prison on Sunday on charges of incitement of murder and violence during protests five years ago, a judicial source said. The sentence is the latest among a series of trials and re-trials against the Supreme Guide of Eg...
September 24th, 2018 | 0 commentsEgypt’s parliament will start its fourth legislative session in its parliamentary term on Tuesday 2 October, in accordance with presidential decree last week. The decree, published in the Egyptian state’s official gazette on Sunday, President Abdel-Fattah El-Sisi issued an order asking the Parliament to convene next Tuesday for its fourth...
September 24th, 2018 | 0 commentsTelecom Egypt on Sunday announced that its board has approved the acquisition of 50% of its subsidiary Egyptian International Submarine Cable Company “EISCC”. Egypt's largest internet provider has purchased the new stake for $15 million, according to the company’s recent statement. In mid-September, Telecom Egypt had revealed that EISCC h...
September 24th, 2018 | 0 comments Egypt’s Ministry of Finance (MoF) is planning to raise the expected rate for the budget deficit to 8.6% of the country’s gross domestic product (GDP) from 8.4%. The unexpected increase in both the interest on government debt instruments and oil prices is the cause of such growth in deficit, an informed source told Enterprise. The governm...
September 24th, 2018 | 0 commentsEgypt’s minister of trade and industry has denied news that the government was going to postpone the application of customs reductions on imported European cars. The government is not planning to postpone cutting tariffs on cars imported from the European Union (EU), Amr Nassar told Enterprise. “Automobiles imported from the EU will enjoy...
September 24th, 2018 | 0 commentsOrascom Investment Holding (OIH) on Sunday announced that its board has approved acquiring the entire stake in Nile Sugar. The new takeover is in alignment with the company’s expansion strategy, according to the firm’s statement to the Egyptian Exchange (EGX). The company did not give further details about the transaction’s value. Earlier...
September 24th, 2018 | 0 comments Egypt’s exports to Russia have increased by 11.5% year-on-year in the first six months of 2018, the Ministry of Trade and Industry revealed on Sunday. Between January and June, exports rose to $402.4 million from $360.6 million in the same period of 2017, the ministry’s data showed, indicating that the industrial and agricultural sectors...
September 24th, 2018 | 0 commentsTelecom Egypt’s stock grew 3.53% during Sunday’s mid-trade on the back of the company’s decision to acquire a 50% stake in its subsidiary Egyptian International Submarine Cable Company “EISCC”. By 11:52 am Egypt time, the stock price recorded EGP 11.15, after 173,300 shares were exchanged at a turnover of EGP 1.9 million -Mubasher
