October 4th, 2019 | 0 commentsA security source said that the statement of the National Council for Human Rights (NCHR) relied on information from unreliable sources. Such information aims at creating a state of confusion and tension in the Egyptian street, the source said. He added that all cases of detentions that occurred during last days were in accordance with th...
October 4th, 2019 | 0 commentsThe Administrative Control Authority (ACA) has arrested two officials at a major construction company over accepting a bribe estimated at EGP 800 million from five contractors, in return for facilitating the accreditation of payment certificates, paying financial dues and granting additional work for companies run by the five. The ACA als...
October 4th, 2019 | 0 commentsAcrow Misr for Scaffolding and Formwork reported a 42% year-on-year profit decline during the first half of 2019, the company’s consolidated financial results showed. Net profits plunged to EGP 72.25 million in the six-month period ended 30 June, compared to EGP 124.5 million in the corresponding period a year earlier, including minority...
October 4th, 2019 | 0 commentsThe Egyptian president Abdel Fattah El-Sisi approved a grant deal worth $600,000 from Korea-Africa Economic Cooperation (KOAFEC) Trust Fund, the Middle East News Agency (MENA) reported. Under the agreement signed on 25 March, the grant will be used to set up a project for treating sewage sludge from Abu Rawash wastewater plant. It is note...
October 4th, 2019 | 0 commentsThe Egyptian cabinet approved the proposal submitted by the ministerial committee concerning the prices of natural gas to several industries. Natural gas delivered to cement factories will be priced at $6 per one million British thermal units (BTU), while the price of natural gas for iron, steel, aluminium, cooper, ceramic, and porcelain...
October 3rd, 2019 | 0 commentsEgypt's Parliament Speaker Ali Abdel-Aal said on Wednesday that Prime Minister Mostafa Madbouli and a number of cabinet ministers would be in parliament the following week to address MPs on the country's economic conditions and the strategy of fighting terrorism and hostile media campaigns trying to spread chaos in Egypt. Abdel-Aal said E...
October 3rd, 2019 | 0 commentsPrime Minister Mostafa Madbouly has issued a decree to the effect that Sunday 6 October, will be an official paid holiday, on the occasion of Armed Forces Day. The decision will be applied in ministries, government bodies and authorities, local administration units, and public sector companies. The Central Bank of Egypt and the Egyptian s...
October 3rd, 2019 | 0 commentsThe UK’s investments in Egypt registered $47.8 billion through 1,817 British companies operating in the most populous Arab nation, the Egyptian minister of investment and international cooperation Sahar Nasr said in a statement on Wednesday. Representatives of 15 major British firms affirmed that the growth in investments was backed by th...
October 3rd, 2019 | 0 commentsThe Egyptian New Urban Communities Authority (NUCA) is currently establishing nine smart cities in Upper Egypt, the minister of housing Assem El-Gazzar said in a statement on Wednesday. Investments of housing, water, and wasterwater facilities in these cities have reached EGP 11 billion to date, El-Gazzar revealed. The new smart cities ar...
October 3rd, 2019 | 0 commentsThe Egyptian Exchange (EGX) closed Wednesday’s trading session on a negative note. The benchmark EGX30 index fell by 115.69 points, or 0.8%, to close at 14,381.15 points. Meanwhile, the small- and mid-cap EGX70 index slid by 2.56% to close at 513.91 points, while the broader EGX100 index decreased by 1.87% to 1,388.14 points. In addition,...
