Monday 30 May 2016
 
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French specialist vessel joining Egyptair black box search

Egypt's air accidents chief said on Thursday that a vessel provided by French company Alseamar, which specialises in marine wreckage searches, will join within hours the hunt for the black boxes from crashed EgyptAir flight MS804.

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UAE remittances to Egypt hit $1.83bn in 2015

Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank. Meanwhile, Jordan received $3.8 billion from countries acr

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Egypt eyes 9.8pc budget deficit for 2016-2017

The Egyptian government is targeting a budget deficit of 9.8 per cent for 2016-2017 and 9 per cent for the following year, the planning minister said in a news conference on Saturday. Ashraf Al Araby also said his government is ta

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Egypt wins Kuwait funding for infrastructure projects

Egypt is set to secure $100 million funding from Kuwait government for the speedy development of its key infrastructure projects in the Sinai region of the Arab nation, said a report. The Egyptian government will sign an agreement

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French black box search vessel arrives at EgyptAir crash zone

A French vessel carrying specialist probes designed to detect black box pinger signals has arrived to the search area where an EgyptAir jet is believed to have crashed last week, sources on the investigation committee said on Friday.

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Egyptian cabinet approves $2.5bn grant from Saudi Arabia

Egypt's government approved on Thursday a $2.5 billion grant from Saudi Arabia, the cabinet said in a statement. "The cabinet approved a grant agreement between the governments of Egypt and Saudi Arabia in which Saudi Ara

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Egypt energy subsidy bill down 27pc

Egypt's energy subsidy bill reached 41 billion Egyptian pounds ($4.62 billion) during the first nine months of the 2015-16 financial year, down 27 per cent from 56 billion in 2014-2015, an oil ministry official told Reuters on Thursday.

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French specialist vessel to join black box search, says official

Egypt's air accidents chief said on Thursday that a vessel provided by French company Alseamar, which specialises in marine wreckage searches, will join within hours the hunt for the black boxes from crashed EgyptAir flight MS804.

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Bertazzoni Italia to invest $61m in new Egypt factory

Italy-based Bertazzoni Italia plans to invest €55 million ($61.4 million) in a new factory to produce the latest home appliances in Egypt, according to a senior official. The factory represents a significant addition to the h

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Orascom Construction posts $23m Q1 profit

Orascom Construction posted a net profit of $23 million in the first quarter of 2016, up significantly from $5.8 million a year ago. The group said it signed new contracts amounting to $510 million in Egypt, Algeria and the US in

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