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For diesel, oil and LPG pipelines, a smart cards system will be introduced for subsided diesel and oil (AFP Photo)
Al-Morsi Hegazy

Shura Council to deliberate tax reform bill within 48 hours

Finance Minister Al-Morsi Hegazy left 15 minutes into the Ministry's press conference…

Hend El-Behary
Hend El-Behary
Number of factories owners decided to cease operations until a recent decision to increase the price of mazut and natural gas was rescinded. (AFP Photo)
civil disobedience

Five-hundred Egyptian factories close as a result of increased Mazut prices

Ten-thousand employees have also been laid off as a result

Daily News Egypt
Daily News Egypt
The economic committee at the Shura Council continued deliberating the sukuk bill as it discussed the technical aspects of the project law. (File Photo) (AFP Photo)
FJP

El-Najjar: Ministry of Finance to issue Sukuk law in June

During its meeting on Tuesday, the economic committee at the Shura Council…

Mohamed Salah
Mohamed Salah
Tariq Hamad, dean of the Business School at Ain Shams University stated that foreign investment within Egypt had dried up over the last two years, pointing out that the country’s foreign currency reserves had also dropped to $13bn (AFP Photo)
budget deficit

‘Save Egypt’s Economy’ Conference: Round-up

Economists at the conference offered suggestions regarding closing the widening budget deficit…

Daily News Egypt
Daily News Egypt
Minister of Finance Al-Morsi Hegazy met with Sir Michael Bear (pictured), the Alderman of the ward of Portsoken, to promote Egyptian PPP projects to British investors (Wikimedia Commons/Lee-Anne Inglis)
Al-Morsi Hegazy

Finance minister invites British investors to participate in PPP projects

‘World Finance’ awards Egypt ‘Best Water Project, Middle East & Africa’ award

Mohamed Salah
Mohamed Salah
Morsi described IMF as a “testament to how capable Egypt is in transitioning economically, rather than a funding opportunity”. (AFP Photo /Egyptian Presidency)
Al-Morsi Hegazy

IMF loan talks to resume in March

IMF loan negotiations with Egypt are to resume early March after talks…

Daily News Egypt
Daily News Egypt
“The country is running several development projects in the Suez Canal, North Siwa, Nubia, New Valley, Nasser Lake and North Coast,” Morsi said. AFP PHOTO/KHALED DESOUKI
Amr El-Leithy

Morsi introduces massive national projects

President Mohmed Morsi made a television appearance yesterday with TV host Amr…

Daily News Egypt
Daily News Egypt
The Bakeries Owners’ Division at the FCC had warned that it will protest against the ministry of supply ignoring their demands to supply them with the difference in new diesel prices, and paying due incentives. (AFP Photo)
bakeries

FCC ‘boycotts’ Ministry of Supply

Ouda had warned owners of bakeries on Saturday not to go on…

Hend El-Behary
Hend El-Behary
The next government is set to propose a new worldwide investment plan that will seek to establish industrial zones in three parts of the Suez Canal region, the first being the North-West Gulf of Suez region. (AFP photo)
ain sokhna

Minister of Industry: Development of Suez Canal industrial hubs will boost revenues $50bn yearly

Current government plans to develop Suez Canal industrial hubs will increase the…

Daily News Egypt
Daily News Egypt
Turkey will invest $1bn in Egypt through Turkish companies in 2013, mainly targeting the steel, energy, cement, chemicals, tourism and infrastructure industries (AFP Photo)
Exports

$1bn Turkish investments in Egypt in 2013

The investments will target steel, energy, chemicals and tourism sectors

Mohamed Salah
Mohamed Salah