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Jose Maria Magrina asks government to promptly consider and resolve issues and complaints of existing investors in Egypt
By Ahmed M El-Wahsh Euro-commodity brokers earned a large share of meticulously watched endeavours to source Egypt with approximately $2bn worth of liquefied natural gas [LNG] as they exert great efforts to develop into a sector, which is characteristically governed by large oil corporations. The following three leading companies; Trafigura, Noble Group and Vitol will …
NBE-led union collects loan worth $1.5bn to pay portion of the dues of foreign oil companies operating in Egypt
No ministry obligation to stabilise prices, cement prices vary according to market changes, says Suez Cement chairman
Higher energy prices may be driving inflation, says former IMF assistant
Cabinet economic group agrees on new oil agreements with minimum investments of $1.3bn
The official added that EGPC has recently faced difficulties in monitoring fuel distribution and following up on shipment arrivals at depots and then to stations.
Power stations need $700m worth of fuel supplies per year
Ministry of electricity seeks to address the electricity crisis by diversifying production sources to include solar and wind energy
Daily reduction of 725m cubic feet of gas at factories; gas supply to EBIC, Alexandria Fertilizers, and Egyptian Fertilizers stopped
Electricity deficit increases to approximately 6,180MW, no solution in sight
Increased demand on commodities and fuel prices behind the 3.3% month on month rise in inflation, CAPMAS says
Pace of growth in seven Middle Eastern countries remains “far below” the rates expected in the 2000s, the World Bank indicates
EGPC’s inability to follow-up on the fuel distribution process made it face problems tracking smuggling.
Fuel station deficit worth 6m cubic metres of gas and equivalent daily
Company will link with local contractors and suppliers to equip factory for coal using capabilities
Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from molasses, the output of which would reach 100,000 tonnes of molasses annually, with investment in the project totalling $250m. The …
CBE can control inflation rates through increasing interest rates orVice Chairman of Egyptian Association for Financing and Investment Studies
IDA is looking to categorise factories by energy consumption in order to approve industry projects that do not need large amounts of electricity
Subsidy reform was inevitable. That’s what President Abdel Fattah Al-Sisi and his supporters said this week when fuel prices were raised and taxes on some consumer goods were hiked. And they aren’t wrong. The “social contract” between the government and its people has clearly become unsustainable as deficits increased, especially over the past three years. …
Ministers agree on package to develop and reform transport system in wake of subsidies cut
EU ambassador to Egypt welcomes reduction of subsidies on petroleum products
Coalition warns against “grave consequences” over subsidies cut
Misr Al Qawia criticises decision, Al-Nour Party calls for transparency and improved methodology, while Socialist Popular Alliance proposes alternate
Measures to boost economy include reforming taxes and wages, adjusting prices and cutting fuel and electricity subsidies
This follows a surprise increase in consumption took place on Friday following the announcement that fuel prices would increase.
The rise in price of such petroleum products as gasoline, diesel, and kerosene in the domestic market.
Amnesty International said last week that Egypt is witnessing a “catastrophic” decline in human rights. Indeed, human rights conditions in Egypt are currently a disaster, but the “catastrophe” Egyptians are witnessing these days is all-encompassing. On Friday, the government announced an increase in fuel prices – a step every government has struggled to take and …
Food products will rise by approximately 20% on higher costs of fuel used for transportation and production, says professor of agricultural economy
Fuel prices to reflect on food commodities, says head of Citizens Against Price Rises Association