1466 Articles
Egypt’s Oriental Weavers Group revealed new details about its planned industrial city, Orientals Industrial City (OIC), in Ain Sokhna, announcing that the project will be built on an area of 10.5m sqm at a cost of EGP 13bn. The new industrial city would be developed and managed by the company’s subsidiary Orientals for Industrial Development …
Project’s total investment worth EGP 2.2bn
The Heliopolis Company for Housing and Development (HHD), one of subsidiaries of the Holding Company for Construction and Development affiliated to the ministry of public enterprise sector, intends to sell 44 plots of land on the main streets of the Sheraton area, in east Cairo. The HHD’s Managing Director, Sahar Al Damati, said in press …
The board of directors of Emaar Misr announced on Tuesday a donation of EGP 878m ($50m) to develop informal housing areas in Egypt. Emaar Misr said that this donation is due to its belief in the developmental role that private sector companies must play toward contributing to community initiatives and social projects, as well as improving …
El Attal Holding will showcase the Park Lane Compoundhood in the Egypt Property Show (EPS) in Dubai, which is being held at Dubai World Trade Center between the period from 18 to 20 April under the patronage of Prime Minister Mustafa Madbouly, and the Ministry of Housing and the Dubai Land Department. The Park Lane …
Namaa Development and Real Estate Investment has announced the launch of its latest project in the New Administrative Capital (NAC) called Capital One, to become the largest private sector management complex in the central business district (CDB) in the NAC. During the celebration of the 20th anniversary of its presence in Egyptian market as a …
Sabbour Consulting and Hometown Real Estate Development contracted to design and supervise the implementation of Zaha Park New Capital, a commercial administrative project, in the New Administrative Capital (NAC). Founder of Sabbour Consulting, Hussein Sabbour said, “According to the contract, our office will provide all engineering consultations for the design works, and supervise the implementation …
Deal worth EGP 31.5m, says ACUD’s spokesperson
Steel price hiked by EGP 600, with expected increase of 15% on iron prices during decision period, says Ayad Group chairperson
Moody’s, credit rating agency, upgraded Egypt’s rating to B2 from B3 and changed the country’s outlook to stable from positive. Finance Minister Mohamed Moeit said that Moody’s decision to raise the credit rating of Egypt to B2 while maintaining a “stable outlook” is a new certificate from the world’s leading rating agency for the success of …
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
‘I am trying to solve the problems and cases raised against me and I hope to return to Egypt,’ says Egypt’s ex-Finance Minister
Egypt is head of African Union, pioneers way Africa can work together, says Malpass
Egyptian people sacrificed a lot to restore stability, says IMF
Egypt should focus on non-petroleum sectors to attract FDIs, says IMF Director of Middle East
Fund ready to help Egypt in the future, says Beblawi
Tourism revenues estimated at $10-12bn this year, targeted to reach $20bn annually
State increased government investments in national projects by 40% in FY 2019/20
Washington, DC- Foreign exchange flows received by the Central Bank of Egypt (CBE) since the flotation of the Egyptian pound since 3 November 2016 exceeded EGP 150bn, Governor of the CBE Tarek Amer said on Friday. Amer added in an exclusive statement to Daily News Egypt on the sidelines of the International Monetary Fund’s (IMF) …
Al-Sisi requests Lagrade’s assistance to promote young people’s entrepreneurship, give them space, freedom to operate to contribute to Egypt’s economic development
Global growth fell to 2.7% in Q4 of 2018, down from 3.3% in Q1 of same year, says WB president
Washington, DC- Thousands of delegates and officials have arrived in Washington, DC, for the spring meetings of the International Monetary Fund (IMF) and World Bank, which is taking place from 8 to 14 April. The spring meetings of the boards of governors of the World Bank Group and the IMF bring together central bankers, ministers of …
Washington DC– IMF has helped the countries through their economic difficulties, said Christine Lagarde Managing Director of the International Monetary Fund (IMF) on Wednesday. Lagarde added that after 75 years of cooperation since the IMF was established systems have changed and adapted from exchange rates of currency to the gold standards system in 70th to reform …
House price hikes in Egypt due to currency devaluation, inflation, correction expected, says IMF’s financial counsellor
Global growth softened to 3.6% in 2018, predicted to decline further to 3.3% in 2019, says Gopinath
Washington DC – Gian Maria Milesi-Ferretti, the deputy director in the Research Department of the International Monetary Fund (IMF), told Daily News Egypt that Egypt’s economy is doing well as it is growing at a very reasonable rate. Milesi-Ferretti noted that, however, it was a difficult moment for emerging markets earlier in 2018 due to capital …
Washington, DC – Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019, unchanged from its expectations in October 2018. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in …
Company targets EGP 1bn in sales in 2019, says CEO
MG Developments has begun the construction of the Headquarters (HQ) business project placed in the first sector on 90th street in the Fifth Settlement, New Cairo, on 11,000 sqm. The company launched the HQ project last November, and it comprises of commercial and administrative units, with total investments worth EGP 1bn. Chairperson of MG Developments, …
Company sold property to Egyptians with sales worth €20m in 3 years, says Marketing Manager