Egypt Watch

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A Massive, Black Sarcophagus Has Been Unearthed in Egypt, And Nobody Knows Who's Inside

Should we open it?<p>Archaeological digs around ancient Egyptian sites still have plenty of secrets to give up yet – like the huge, black granite …

Archaeology

Mubadala Petroleum acquires 10% stake in Egypt's Shorouk Concession

Mubadala Petroleum and Italy’s Eni signed an agreement to purchase a 10% stake in the Egyptian Shorouk Concession.

Abu Dhabi

Investment is being funded through a shareholder loan after a 70% cut to the dividend for FY 2017.

Telecom Egypt (TE) has secured permission from its board of directors for an investment of US$90 million towards its acquisition of Middle East and …

Cyprus-Egypt gas line to cost $800M-$1B

EIB and AfDB support financing for port facilities in Nouadhibou, Mauritania

The EIB and ADB provide financial support to SNIM a total of 109 million. This funding is intended to deepening and widening of the access channel of …

developmentnews

MENA tourism expected to reach $350bn by 2027

<b>ABU DHABI</b> — The tourism industry in the Middle East and North Africa is expected to reach $350bn by 2027, according to MENA Research Partners, a …

Egypt approves oil exploration deal with Italy's Eni, Egyptian firm Tharwa

CAIRO, May 9 (Reuters) - Egypt has approved an exploration agreement with Italy's Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the coast of northern Sinai, the Egyptian oil minister said on Wednesday.

Egypt discovers tomb of ancient pharaonic general near Cairo

CAIRO (AP) — Egyptian archeologists say they have discovered a tomb of a "great army general" under Ramses II at the Saqqara burial complex near Cairo.<p>The antiquities ministry says in a Tuesday statement that the general, named "Iwrhya," was found in the New Kingdom necropolis, and had yet to be …

Egypt Population Surge Must Be Met with Job Growth, IMF Says

Egypt needs to embrace policies that strengthen the private sector and promote job growth in order to cement the gains realized from sweeping …

Tough measures start to pay off for Egypt

In a recent television advertisement, Egypt’s investment ministry promotes official claims of the speedy delivery of services offered to investors at …

Interest Rates

Capitalizing on Zohr, EU, Egypt sign MoU on strategic energy cooperation

© European Union, 2018/Photo: Pedro Costa Gomes<p>Click for full view<p>(L-R) Egypt’s Electricity and Renewable Energy Minister Mohamed Shaker, EU Climate …

Amer, Nasr head to U.S to attend spring meetings of IMF

Governor of the Central Bank of Egypt Tarek Amer and Minister of Investment Sahar Nasr are on their way to Washington to attend the spring meetings …

China's SAIC Motor plans factory in Egypt -Xinhua

SHANGHAI, March 26 (Reuters) - SAIC Motor Corp, China’s largest automaker, plans to build a factory in Egypt to supply markets in the Middle East and Africa, China’s Xinhua News Agency reported, citing Egypt’s trade minister.<p>A delegation from SAIC had reviewed a new Egyptian investment law that …

Why unbanked Egypt is ripe for a FinTech revolution

With bank accounts a relative rarity, Egypt could be a prime opportunity for new finance technologies<p><i>Video: Five facts about e-commerce in the Middle</i> …

Egypt ports to remain open 24 hours to cut down on wait times -minister | Reuters

CAIRO, April 18 (Reuters) - Egypt will keep its ports running for 24 hours a day, up from 16 currently, in an effort to cut down on “long waiting times” for shipments, Transportation Minister Hesham Arafat said on Wednesday.<p>The extended port hours will not come at any added cost for shippers, he …

Egypt: energy developer begins construction of Benban Solar Park

<b>In collaboration with Chinese clean energy company TBEA Sunoasis, Egypt has commenced the construction of four solar power stations at the Benban</b> …

Egypt to negotiate resumption of Russian flights to Sharm El-Sheikh and Hurghada

Egyptian aviation officials will hold a meeting with Russian counterparts in May to discuss the return of Russian flights to Sharm El-Sheikh and …

Thomas Cook’s summer bookings to Egypt from UK, Germany up 40% y-o-y

Thomas Cook’s summer bookings for Egypt from the UK and Germany are up 40 percent year-on-year, according to Moody Shair, President of Bright Sky, …

Egypt’s Central Bank Cuts Interest Rate, Government Sets Realistic Expectations for EGP

Egypt’s central bank cut its key interest rates by 100 basis points for the second meeting in a row on Thursday, but the Ministry of Finance …

Egypt Shores Up Its Books as Reforms, Security Push Pay Off

reserved

COVER STORY-Natural Gas Self-Sufficiency, the Welfare of Factories, and the Dilemma in Between

• Home<br>• Business Monthly<br>• {{vm.article.articleDate}}<p>{{vm.article.articleDate}}<p>Advertise in Business Monthly<p>Latest Magazine<p>AmCham<p>Egypt to stop natural gas …

Self-sufficiency

CORPORATE CLINIC-Investing in the South

Business

IN DEPTH-Is Adventure Travel Tourism’s Next Frontier?

Travel

Egypt's annual urban inflation falls to 14.4 percent in February - Economy - Business

Egypt's annual urban inflation fell to 14.4 percent in February from 17.1 percent in January, the lowest since October 2016, the Central Bank of …

Economics

Egyptian firm to buy $15 billion of Israeli natural gas

TEL AVIV (Reuters) - An Egyptian company will buy $15 billion of Israeli natural gas in two 10-year agreements announced on Monday, a major deal that Israel hopes will strengthen diplomatic ties.<p>An Israeli gas platform, controlled by a U.S.-Israeli energy group, is seen in the Mediterranean sea, …

Egypt's Potential Gas Surplus Could Feed Global LNG Glut

Egypt faces a possible over-abundance of natural gas after two Israeli companies proposed a $15 billion supply deal, raising the prospect that the …

Going for Gold - Australia and Egypt working together to develop the Egyptian mining sector - BusinessGhana News | Business

Egypt has strong potential to develop further its mining sector and attract significant international investment<p>Australian Ambassador Neil Hawkins is …

With $4 Billion Bond Sale Done, Egypt Readies Euro Offer

Xodus appoints GM to new Egypt office - News for the Oil and Gas Sector

Aberdeen-headquartered Xodus Group has announced the appointment of its first general manager to its new Egypt office.<p>Salah Farid Tantawy will be …

Energy

Egypt to Loosen Monetary Policy After ‘Reigning In’ Inflation

Egypt’s central bank plans to start easing monetary policy “soon,” once it’s convinced inflation has been reined in, Governor Tarek Amer said on …

Economics