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Interest rate cut to reduce borrowing costs: Moody’s

Egypt’s key credit challenges, including weak finances, large financing need, and high borrowing cost, drive exposure to interest rate shocks as well as large domestic funding cost to remain high, Elisa Parisi-Capone, vice president and senior analyst at Moody’s Investors Service, told Daily News Egypt. Moody’s believes that interest rate cut will be a step …

Daily News Egypt

German DEA acquires new concession for exploration in East Damanhour

The Egyptian Natural Gas Holding Company (EGAS) has granted the German DEA Company a new concession for exploration in East Damanhour, El Beheira governorate. German ambassador to Cairo, Julius Georg Luy, said that this decision is another step through which German companies can strengthen their position in the field of oil and gas in Egypt. …

Daily News Egypt

Egypt’s unemployment rate decreases to 8.9% during Q4 2018: CAPMAS

Egypt’s unemployment rate registered 8.9% of the total labour force in fourth quarter (Q4) of 2018, while it was 10% in Q3 2018, with a decrease of 1.1% and a decrease of 2.4% from the same quarter last year, according to Central Agency for Public Mobilisation and Statistics (CAPMAS) on Thursday. The CAPMAS said that …

Daily News Egypt

Trade, Industry Minister discusses executive plan with Siemens delegation

Egyptian Minister of Trade and Industry, Amr Nassar, met Siemens delegates headed by Emad Ghaly, CEO of Siemens Egypt, to follow-up on the implementation of memorandum of understanding (MoU) signed by ministries of industry and trade, education, and technical education and training with the Siemens Company. This is in order to improve the competitiveness of …

Daily News Egypt

MC - mastercard new logo

Mastercard launches its sonic brand

Mastercard announced the release of its sonic brand identity, a comprehensive sound architecture. “Sound adds a powerful new dimension to our brand identity and a critical component to how people recognise Mastercard today and in the future,” said Raja Rajamannar, chief marketing and communications officer in Mastercard. According to the statement issued by Mastercard, to …

Daily News Egypt

EJB appoints Madiha Nasr as executive director

The Egyptian Junior Business Association (EJB) announced the appointment of Madiha Nasr as the association’s new executive director on Wednesday.  According to the announcement, Nasr has been selected based on her diversified professional experience in several international and local organisations. She worked as an economic and trade adviser to the Switzerland embassy in Egypt since …

Daily News Egypt

Assem El Gazzar sworn in as housing minister

Assem El Gazzar was sworn in as the minister of housing on Wednesday as a successor to Prime Minister Mostafa Madbouly. El Gazzar is one of the closest aides to Madbouly, and they worked together in the General Organisation of Physical Planning (GOPP). El Gazzar was the deputy housing minister, and served as chairperson of …

Daily News Egypt

AUC launches campaign to collect $100m

Celebrating its centennial, the American University in Cairo (AUC) announced launching a new campaign with the aim of collecting $100m in order to support the quality of education, and maintains the provision of a one of a kind educational system. Under the name of the AUC’s centennial campaign: A New Century of Impact, the campaign …

Daily News Egypt