Saturday 1 August 2015
 
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Egypt

Egypt to reveal new projects at New Suez Canal opening

Egypt is set to announce new projects during the inauguration of the New Suez Canal, according to a report. The official opening of the new 72-km shipping lane has been scheduled for August 6, said the Amwal Alghad report

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Egypt raises electricity prices for mid-to-high households

Egypt raised electricity prices on Thursday for mid-to-high household usage by an average of 19 percent for the 2015/2016 fiscal year, the electricity ministry said. The government began raising electricity prices last year as par

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Egypt's CIB net profit up 23pc in Q2

Commercial International Bank, Egypt's largest listed lender, on Wednesday reported a 23 per cent rise in second quarter net profit after minority interest compared to the same period last year, it said in a statement. Second

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Work on New Suez Canal complete

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah Al-Sisi sees as a symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment.

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Egypt's H1 tourism revenue hits $3.3bn

Egypt's tourism revenue rose 3.1 per cent in the first half of 2015, hitting $3.3 billion from $3.2 billion in the same period last year, the tourism minister said on Wednesday. The total number of tourists rose 8.2 per cent in the

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Egypt to speed up shipping with new Suez waterway

Egypt plans to allow smaller vessels in the Mediterranean direct access to East Port Said around the clock instead of just eight hours a day by building a side channel near the Suez Canal, which will speed up shipping movements in the area.

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25 killed in Egypt furniture factory fire

A fire at a furniture factory outside Cairo killed 25 people on Tuesday, the spokesman for Egypt's health ministry said. Another 22 people were injured by the fire in El Obour, an industrial city about 35 km (22 miles) northea

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The Sonesta Collection appoints new GM

The Sonesta Collection, a leading luxury hotel group, has welcomed Amr Abdel Samie as its new general manager at Sonesta Pharaoh Beach Resort Hurghada in Egypt. Samie joins Sonesta from Radisson Blu Sharm El Sheikh, where he recently he

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Egypt plans $38m spend on new Assiut road

Egypt is set to invest EGP300 million ($38 million) to implement the first phase of a new road linking the Assiut plateau with the Western Desert and Eastern Desert roads, a report said. The first phase will see the completion of

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Kerry heads for region to discuss Iran deal, IS

US Secretary of State John Kerry will travel to Egypt and the Gulf next week for talks on the recent nuclear deal between major powers and Iran and the fight against Islamic State militants, then he will head to Southeast Asia, where countries s

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