Sunday 25 January 2015
 
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Egypt

Volvo to launch 2015 premium cars in Egypt

Volvo Car Group, a Swedish premium automobile manufacturer, has announced the launch of its all-new 2015 Volvo range in Egypt. Ezz Elarab Automotive Group, the sole agent for Volvo Car Group in Egypt, said it was excited about the

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Egypt growth to be ‘easily north of 4pc’ in 2014-15

Egypt can expect economic growth "easily north of 4 per cent" in fiscal year 2014-15, which ends in June, boosted by rising confidence and a windfall from lower oil prices, its finance minister said. Hany Dimian also tol

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Suez Canal revenue up at $445.5m

Revenues from the Suez Canal rose to $445.5 million in December from $442.8 million in November, Egypt's state information website said on Thursday. The fastest shipping route between Europe and Asia is one of Egypt's main

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Egypt-UAE in deal to develop maritime transport co-operation

The Red Sea Port Authority has signed a deal with the Abu Dhabi Ports to boost maritime transportation co-operation between Egypt and the UAE, according to a report. The deal aims at developing the countries’ maritime transp

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Jazeera reports 7pc increase in passenger traffic

Kuwait-based Jazeera Airways has shown a 7 per cent increase in passenger numbers in November 2014, compared to the same period in 2013, and an on-time performance of 95 per cent. The increase in passengers in 2014 were seen on routes s

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Egypt does not see oil price drop hitting investments from Gulf

Egypt does not expect Gulf Arab countries to reduce their investment in the country despite the fall in oil prices, as Cairo is of particular strategic importance for the region, Investment Minister Ashraf Salman

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ERC to spend $2.7bn more on refinery project

Egyptian Refining Company (ERC) will spend about $2.7 billion during 2015 and 2016 to complete its on its Mostorod refinery project. Approximately $1 billion has already been invested in the project by the Qalaa Holding's subs

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Nestle plans to invest $138 million in Egypt

Swiss food giant Nestle plans to invest about EGP1 billion ($137.93 million) in Egypt in the next few years and believes economic reforms could deliver results, its regional CEO said on Monday. Political and economic instability t

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Egypt to build 4,300 MW solar, wind plants: Sisi

Egypt aims to build solar and wind power plants in the next three years with combined capacity of 4,300 megawatts (MW), Egyptian President Abdel Fattah Al-Sisi told an energy conference in Abu Dhabi. The plan is part of Egypt'

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Egypt allows pound to fall as inflation concern eases

Egypt's central bank let the pound weaken on Monday for the second day running, a move analysts said was aimed at stamping out a thriving black market as inflation concerns ease. The bank allowed the pound reach 7.24 pounds pe

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