Egypt introduced its latest round of fuel subsidy cuts on Friday, raising domestic prices by between 16% and 30% as it nears the end of an IMF-backed economic reform programme.
Schneider Electric has revealed the deployment of its EcoStruxure Facility Advisor solution, which helps monitor energy use and asset availability and enhance efficiency, across 19 Carrefour stores in Egypt, operated by Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer in the Middle East, Africa and Asia.
Sheikh Mohammed Bin Faisal Al Qasimi, Chairman and CEO of MBF Group has signed an investment partnership with Hussain Al-Tantawi, Executive Director of the National Bank of Egypt (NBE), at (DIFC) office, in the presence of Tariq Al Ghazali, General Manager of the Bank’s representative office in the UAE.
Dana Gas on Tuesday announced it has commenced drilling operations yesterday at its Dana Gas begins drilling at Merak-1 well, offshore Egypt. The location is in 755 metres of water in the North El Arish concession, also known as Block 6. This block is in the Eastern Mediterranean
Egypt, the world’s largest wheat importer has bought 2.7 million tonnes (mt) of wheat from its farmers so far this season, the state-owned newspaper said. Egypt has said it aims to procure 3.6 million tonnes
Egypt’s unemployment rate dropped to 8.1 per cent in the first quarter of 2019 from 10.6 per cent in same period the previous year, state statistics agency CAPMAS said on Wednesday.
Egypt’s annual urban consumer price inflation eased to 13.0 per cent in April from 14.2 per cent in March, official statistics agency CAPMAS said on Thursday. “The figures are lower than our expectations,” said Radwa El-Swaify, head of research at Pharos Securities Brokerage.
Egypt’s non-oil private sector economy saw renewed growth in April, according to latest PMI data. Output expanded for the first time in nearly one-and-a-half years and new business increased at a faster rate. Input purchasing and job numbers also rose, while business sentiment towards the year-ahead outlook for activity strengthened.
Egyptian security officials have held talks with Palestinian leaders in recent days in part to prevent a new flare-up of tensions between Israel and the Gaza Strip, Palestinian officials said on Sunday.