June 17th, 2019 | 0 commentsEgypt's Minister of Defence and Military Production Mohamed Zaki left for Paris on Sunday with a high-level delegation to attend the Paris Air Show 2019, the Egyptian Armed Forces said in a statement. The Paris Air Show is a major international air show and aerospace-industry exhibition. On the sidelines of the event, Zaki will hold talks...
June 17th, 2019 | 0 commentsEgypt's President Abdel-Fattah El-Sisi discussed recent developments in the Middle East, particularly in the Gulf region, with UAE Foreign Minister Abdullah Bin Zayed Al Nahyan in Cairo, the Egyptian presidency said in a statement. President El-Sisi said that Egypt has been following with great concern the recent developments threatening...
June 17th, 2019 | 0 commentsEgypt is planning to reach self-sufficiency of fuel and petroleum products during the fiscal year 2022/2023, minister of petroleum and mineral resources Tarek al-Mulla stated on Saturday. International investors have become more interested in the Egyptian petrochemical sector, which incentivises the industry, al-Mulla added, noting that t...
June 17th, 2019 | 0 commentsAn amount of EGP 12 billion ($720 million) will be spent by the end of the fiscal year 2019/2020 to resume efforts for the development of informal settlements, executive director of Informal Settlements Development Fund (ISDF) Khaled Siddiq, told Mubasher. Since the beginning of 2016 until June 2019, EGP 18 billion ($1.08 billion) were sp...
June 17th, 2019 | 0 commentsElsewedy Electric announced signing a purchase agreement with R.F. Energy S.A, subsidiary to F.G Europe S.A, to acquire the entire stake in four companies in Greece for EUR 55 million. The deal includes the acquisition of three wind energy companies and another firm owning a hydroelectric power project, the Cairo-based firm said in a stat...
June 17th, 2019 | 0 commentsThe Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 17.5 billion on Sunday on behalf of the Ministry of Finance (MoF). The first tranche of the T-bills will be offered through 91-day notes at EGP 8.75 billion, while the second tranche stands at EGP 8.75 billion and will be offered through 266-day notes, the CBE s...
June 17th, 2019 | 0 commentsArab Dairy Products Co. (Panda) announced that Dutch FrieslandCampina International Holding has submitted a request on Friday to carry out a due diligence process for the acquisition of the Egyptian dairy firm. This step is part of the Dutch company’s plan to take over the entire shares of Panda, the Egyptian firm said in a statement to t...
June 17th, 2019 | 0 commentsEgypt’s government has finished a draft law to grant residence to foreigners in return for purchasing a property, the country’s prime minister said on Sunday. The bill has been submitted to the Egyptian parliament to be discussed and voted on, Mostafa Madbouly added during the fifth session of the ‘Builders of Egypt’ forum. The real estat...
June 17th, 2019 | 0 commentsListing government-owned companies on the Egyptian bourse is contingent on the results of restructuring these firms, the country’s public enterprise minister Hisham Tawfik said on Sunday. The ministry is currently restructuring public-enterprise companies in several sectors including contracting sector, Tawfik added during the fifth sessi...
June 17th, 2019 | 0 commentsEgypt’s transport minister Kamel El-Wazir announced that seven out of total nine dry ports and logistic areas are set to be launched in several new cities in the upcoming period.The new projects will be located in a number of cities including 10th of Ramadan city, El-Sadat city, Borg El-Arab city, Sohag, Beni Suef, and 6th of October city...
