Latest Egypt News
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Egypt Hope in the Midst of Storms
The following article was written by Michael (not his real name). He is a Christian leader in Egypt, which is ranked No. 25 on the Open Doors 2013 World Watch List of the worst persecutors in the ...
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AP PHOTOS Egypts languishing Islamic antiquities left worse for wear after 2011 uprising
In this photo taken Sunday, May 12, 2013, Egyptians walk by the medieval fortress wall in the historic Fatimid Cairo, Egypt. Cairo, the Arab world's most populated city, is often referred to as an open-air museum of Islamic antiquities and the city of 1,000 minarets. But its rich history and contributions to Islamic art has languished. (AP Photo/Nasser ...
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Rowad Tourism incurs LE 1.3 m loss in Q113
) reported consolidated financial results posting a net loss of LE 1,362,863 for the period from 01/01/2013 till 31/03/2013. Noting that, it posted net profits of LE 4,301,493 for the comparable ...
More Egypt News
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AfDB Powering a Climate-Smart and Greener Continent
For the African Development Bank's Energy, Environment and Climate Change Department, transforming Africa means powering a climate-smart and greener continent. It entails supporting transformative infrastructure projects to increase energy access backed by both large-scale and off-grid solutions, promoting sustainable use of natural resources, supporting climate-resilience with ...
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Launch of the One Campaign 2013 Data Report Financing the Fight for Africas Transformation
Many African nations are booming, and despite high population growth, the proportion of people living in extreme poverty has declined by 16% over the last decade. As African governments accelerate efforts to transform their economies and boost growth, there are growing demands to ensure that growth is equitable and benefits all African citizens. Against this backdrop, the Millennium ...
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AfDB and Malawi Sign Budget Support and Hydroelectric Feasibility Study Grants
The African Development Bank and the Government of Malawi (GoM) signed two grants amounting to UA 6 million (about US $9 million) on May 23, for budgetary support and a Hydroelectric Power Plant Feasibility Study. The US $6 million additional Crisis Response Budgetary Support follows the initial US $39 million provided in July 2012 to support Malawi's reforms aimed at restoring ...
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Egypt lowers the boom on Sinai and wins release of security officers
Special to WorldTribune.com CAIRO -- Egypt has employed negotiations and heavy military pressure to defuse an insurgency crisis in the Sinai Peninsula. The regime of President Mohammed Morsi has won the release of seven Egyptian soldiers and security officers held in Sinai. Officials said Bedouin gunmen released the seven unharmed on May 22 in a move that halted a major counter-insurgency ...
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Qemmah Rooya Group to provide the latest in real estate solutions
- Qemmah, a subsidiary of Summit Holding, specialized in providing and implementing Oracle E-Business Suite applications and Customer Resource Management (CRM) solutions has been contracted by Rooya Group, a real estate and construction company operating in Egypt, to install an Oracle E-Business Suite application to run Rooya's finance, supply chain and project management and costing in a ...
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Explosion Kills One Person in Egyptian Peninsula
Cairo, May 23 (Prensa Latina) The explosion of an all terrain vehicle parked in the Egyptian city of Rafah killed one person, reported the ...
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SODIC 1Q13 net income significantly below forecast on weak deliveries Hermes
) has reported 1Q2013 net income before minorities of only LE 6 million, significantly below our LE 34 million forecast. Hermes added that, We view the results negatively, given the weak deliveries that have driven the earnings disappointment. The company delivered only 37 units worth EGP115.8 million in its flagship project Allegria, much lower than our expectation. We believe that our ...
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Egypt plans to issue sukuk in early 2014
By Abhinav Ramnarayan Thu May 23, 2013 11:58am EDT LONDON, May 23 (IFR) - Egypt aims to issue a sukuk to international and domestic markets at the beginning of 2014, the country said in its new USD12bn euro medium term note programme. The Arab nation, rated Caa1/CCC+/B, wants to use Islamic bonds as a diversification tool to broaden the investor base and has been "targeting financing ...
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NUCA extends SODIC West development schedule for extra 10.5 months
) has announced an update regarding the current legal status of extending the development schedule for SODIC West: New Urban Communities Authority's (NUCA) Board of Directors has formally approved an extension for SODIC's "SODIC West" development schedule to compensate for the delays in issuing necessary approvals. In that respect SODIC has received an official letter from ...
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U.S. State Department Daily Press Briefing Libya Egypt
QUESTION: On Libya, did the FBI complete its investigation in the attack on the consulate in Benghazi? Because there is a report today saying that the White House have enough proof about five suspects in Libya, and they are monitoring them. MR. VENTRELL: What I - again, I have to refer you to the FBI for the status of their investigation, but just to emphasize that there's no one more than ...
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Police Arrest Four Jihadist Suspects in Alexandria
An Alexandria prosecutor has ordered that four suspected jihadists, who were arrested on the desert road on Wednesday, be detained for four days pending an investigation. A security source said that an ambush had found the four men suspicious and when it searched their vehicle, it found weapons, including a machinegun, bullets, and hand grenades. Preliminary investigations revealed that the ...
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Report - Women in Developing Countries Most Prone to Environmental Pollution Effects
Environmental pollutants are responsible for 23 percent of diseases worldwide, a new World Health Organization (WHO) report showed. Resolving the problems caused by these pollutants may save the lives of six million women annually, the report indicated. Breast cancer kills 19 percent of women annually, said director of WHO's Public Health and Environment Maria Neira. Breast cancer is ...
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EFG Hermes reports 27.3 Y-o-Y rise in net profit in Q1 2013
EFG Hermes, the leading investment bank in the Arab world, released today its consolidated financial results for the first quarter of 2013, reporting net income after taxes and before minority interest of EGP98m on total consolidated operating revenues of ...
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AMOC to extend contract with Egyptian General Petroleum for 3 years
) BOD approved to extend contract of selling and buying petroleum with Egyptian General Petroleum Corporation for three years ending in 30/06/2015 with the same ...
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Egypt to issue smart cards to fuel stations next month
View Photo Reuters/Reuters - A motorcyclist carries fuel containers after filling them up from a petrol station as he passes other motorists in queue in Toukh, El-Kalubia governorate, about 25 km (16 miles) ...
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Tourism in Egypt Hope amid a slow recovery
WEF: Egypt 'one of the most dangerous places on earth' Country's millions of tourism workers hit hard by poor business following political unrest "Bikinis are welcome in Egypt and booze is still being served," says tourism minister Tourist arrivals plummeted in 2011, but began picking up late last ...
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Egypt Defuses Sinai Crisis
CAIRO [MENL] -- Egypt has employed negotiations and heavy military pressureto defuse an insurgency crisis in the Sinai Peninsula. The regime of President Mohammed Morsi has won the release of sevenEgyptian soldiers and security officers held in Sinai. Officials saidBedouin gunmen released the seven unharmed on May 22 in a move that halted amajor counter-insurgency ...
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Egypt to sink some $700 million to easy electricity shortages
The Egyptian government said on Wednesday it would supply more gas and diesel to power stations to deal with electricity shortages that have worsened in recent months after the cash-strapped country failed to import enough ...
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Crowell and Moring Cairo advises Abu Dhabi Islamic Bank- Egypt on landmark Islamic finance deal
In a first-of-its-kind transaction in post-revolution Egypt, Crowell & Moring's Cairo office has advised the Abu Dhabi Islamic Bank-Egypt in connection with a landmark Islamic Finance facility extended to Maridive and Oil Services ...
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A verdict against Amer affiliate to pay LE 77 m says to seek annulment
) announced that Genoa Tourism Investment gained verdict against Tropi 2 Touristic Development, Amer's affiliate, that the later will pay LE 77.877.000 in addition to arbitration fees. Amer added, in a release to EGX that, it is conducting the legal procedures to annul this ...
Egypt Digest
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Egypt's oil industry is growing rapidly
Egypt has, in recent years, made immense gains in terms of economic performance. The country has long been the economic powerhouse of North Africa and Africa in general (second only to South Africa and Nigeria) and has taken great steps to reverse the highly-centralized economy inherited from President Gamel Abdel Nasser.
The oil and gas sector has long been one of the major strengths in the Egyptian economy, along with other natural resources such as minerals, gold and natural gas. Read more
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