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No withdrawals from New Administrative Capital project: ACUD spokesperson

No new real estate developers asked to withdraw from the New Administrative Capital project, according to Administrative Capital for Urban Development (ACUD) spokesperson Khaled El Hosseini. El Hosseini told Daily News Egypt that the ACUD did not receive any requests to withdraw from developing the land in the capital except for Novus Stanza Properties. El …

Shaimaa Al-Aees

Egypt’s annual inflation rate dropped to 13.6% y-o-y in August, down from 33.2%

The Central Agency for Public Mobilisation and Statistics (CAPMAS) stated on Thursday that Egypt’s annual inflation rate dropped to 13.6% year-over-year down from 33.2% in August, 2017. The consumer price index increased by 1.7% month-over-month, recording 294.9 points last month, according to the CAPMAS. Notably, inflation dropped in July compared to June, registering at 13.8%, affected by decisions …

Daily News Egypt

Dryve offers vehicle rental for Uber drivers

The Dryve car rental platform agreed with Uber, a peer-to-peer ridesharing, to offer vehicles for its licensed drivers, in partnership with French AXA multinational insurance. According to dryve, car owners can earn EGP 5,000-12,000 per month. Last month, Uber Egypt and Nacita AutoCare announced the launch of the first Rent to Own vehicle solutions programme …

Mohamed Alaa El-Din