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Tag Archives: Business

Mastercard opens Levant HQ in Amman

Mastercard, a leading technology company in the global payments industry, has established its Levant headquarters in Amman, Jordan, coming closer to partners in Jordan, Lebanon, Iraq and Palestine. This follows the recent inauguration of its offices in Bahrain and Pakistan, said a statement. By establishing its formal presence in three …

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B.TECH plans investments worth EGP 250m in 2017

B.TECH, a retailer for electronics and home appliances in Egypt, plans to pump investments worth EGP 250 million during 2017, the company’s chairman, Mahmoud Khattab, said. The company also seeks to increase its sales in 2017 by 30% to EGP 3 billion, compared to EGP 2.3 billion in 2016 and …

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Egypt’s new investment law to be approved soon

The Committee of Economic Affairs in the House of Representatives has finalized its review of the long awaited new investment law, Mohamed Khodeir, Head of General Authority for Investment (GAFI) said, noting that the committee has discussed all clauses in the law with him throughout the previous period. The law …

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Moody’s Sees Egypt’s Economy Growing but Reforms Slipping

By: Ahmad Abu el-Hamd March 29, 2017  CAIRO — The economic picture for Egypt is improving, ratings agency Moody’s said on Wednesday, but a public backlash will likely lead the Mideast country to slow reforms undertaken to secure a bailout from the international Monetary Fund. The group forecasts that the Arab …

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Saudi high-speed rail project enters fast track

By: Ahmad Abu el-Hamd March 20, 2017 Work on the high-speed Haramain Express rail project in Saudi Arabia is progressing at a steady pace with 95 per cent of 450-km-long line – linking the key cities of Makkah and Madinah – already completed, said a report. The remaining 20-km line, …

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Egyptian-Spanish bilateral trade up 17%

Trade exchange between Egypt and Spain grew 17% year-on-year between January and November 2016, the Egyptian minister of trade and industry, Tarek Kabil, said in a statement on Monday. During the eleven-month period, bilateral trade with Spain reached EUR 1.9 billion, compared to EUR 1.6 billion in the same period …

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