Section: Egypt
Wadi El Nile to set up sorting, packaging station with EGP 20m investments in 2019
Wadi El Nile for the export of agricultural crops will establish a sorting and a packaging station with investments of EGP 20m during 2019. Ahmed Elabagy, chairperson of the company, said that the station will be specialised in the sorting and packaging of citrus fruits, grapes, and pomegranates. The construction process is scheduled to begin...
Business community calls on CBE to more cuts in interest rates
Three investment experts agreed that Egypt’s interest rates are still relatively high, despite the latest decision of the Central Bank of Egypt (CBE) to cut interest rates by 1%. The Monetary Policy Committee of the CBE cut the overnight deposit rate and the overnight lending rate at 15.75% and 16.75%, respectively, during 2019’s...
Trade Ministry holds first meeting to formulate upgraded version of Export Support Programme
The Ministry of Trade and Industry hosted the first meeting to formulate new version of the Export Support Programme, with the participation of the heads of Export Councils. The minister of trade and industry, the advisor for SMEs, and the general coordinator of the Export Councils, Hossam Farid, said that this meeting comes within a framework of...
Egypt’s agricultural exports: opportunities, challenges lying ahead
Egypt’s agricultural exports have achieved a reasonable growth last year by producing 500,000 tonnes, to reach 5.2m tonnes, compared to 4.75m tonnes in 2017, which diverted the attention toward the ability of the sector to grow during the upcoming years. Daily News Egypt organised a seminar in order to understand the situation of the...
2019: Getting over challenges and eyeing more opportunities
The tourism industry in Egypt has been full of ups and downs since the 2011 Revolution. The sector in Egypt suffered a devastating blow, especially when a Russian passenger plane crashed in Sinai in late October 2015 and all its passengers were killed. Notably, following the plane crash, Russia imposed a travel ban on Egypt, while the UK...
Every Egyptian household would have at least one direct or indirect worker in tourism: Al-Mashat
The tourism sector in Egypt suffered a downturn since the 2011 Revolution, and the sector in Egypt suffered a devastating blow, especially when a Russian passenger plane crashed in Sinai in late October 2015 and all its passengers were killed. Notably, following the plane crash, Russia imposed a travel ban on Egypt, while the UK suspended all...
EBRD hopes to establish ‘foreign investors council’ in 2019
The European Bank for Reconstruction and Development (EBRD) is discussing the establishment of a foreign investors’ council with stakeholders in Egypt, the Country Head for Egypt and Managing Director for the Southern and Eastern Mediterranean (SEMED) at the EBRD, Janet Heckman, announced, adding, “Hopefully we will announce the...
Economic woes mark end of 2018, global conflicts to watch in 2019
The end of 2018 has seen quite a few months full of action. Crises are sweeping countries across the globe, with a particular condemnation of economic distress and increased concern for deteriorating human rights circumstances. US-Saudi relations are closely monitored for their impact in shaping regional policy, as Crown Prince Mohamed Bin...
Egyptian-Italian business relations recovering
The events of the Egyptian-Italian Business Forum on Water, Energy, Waste, and Mobility have ended. The forum was organised by the Italian embassy in Cairo, in cooperation with Ecomondo, the leading circular and green economy expo in the Euro-Mediterranean area organized by Italian Exhibition Group , and the Italian Chamber of Commerce in Egypt....
Egyptian-Italian relations recovering
The events of the Egyptian-Italian Business Forum on Water, Energy, Waste, and Mobility have ended. The forum was organised by the Italian embassy in Cairo, in cooperation with Ecomondo, a group of Italian exhibitors, and the Italian Chamber of Commerce in Egypt. About 200 Egyptian and Italian companies participated, and over 40 bilateral...
