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Moody says IMF review is 'credit positive' for Egypt
The IMF's executive board completed the first review of a $12 billion loan to Egypt, disbursing the final instalment of $1.25 billion.
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Egypt's Sisi inaugurates largest military base in Mideast
The President raised the Armed Forces flag at the new Mohamed Naguib base in el Hammam city, west of Alexandria.
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Interest rates stir new wave across auto market
Car companies expected a drop in sales due to pressure from the Central Bank's decision to raise the benchmark interest rate for 2nd time in 2 months.
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Egypt agricultural exports up 12.1 pct in first half 2017
Exports increased in citrus, potatoes, grapes, and strawberries, and fell only for onions.
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US dollar exchange rate relatively declines Wednesday
The rate went down to LE17.90 for purchase and LE18 for sale at al-Baraka Bank, the Commercial International Bank (CIB) and National Bank of Greece.
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Egypt receives final $1.25 bln in first tranche of IMF loan
According to an informed source at the CBE, the bank received the installment on Tuesday.
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Average yields on Egypt's five- and 10-year T-bonds rise
The average yield on the five-year bonds rose to 18.934 on Monday from 18.349 at the last similar auction on June 19.
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US dollar exchange rate surpasses LE18
The rates at the National Bank of Egypt (NBE) are LE17.82 for purchase and LE17.92 for sale.
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Egypt’s GASC seeks wheat for Aug. 21-31 shipment
Tenders should reach GASC by noon local time (1000 GMT) on Tuesday.
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Egypt to open new areas in Red Sea for oil, gas exploration
Discussions about the establishment of a petrochemical factory in the Suez governorate at a cost of 4 million U.S. dollars.
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Egypt completes 13,000 social housing units
The Egyptian ministry has also completed utilities and electricity works for the units.
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IMF chief praises Egypt's measures on economic reforms
The head of the International Monetary Fund has praised Egypt's reform measures, saying they will set the country on "a path of stability."
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Mwaslat Masr launches SMART transportation
The project is launched in cooperation with UAE partners with EGP 1bn worth of investments. It is still in testing period.
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Egypt Economy to recover in 2018 with expected inflation hikes
A gradual recovery in the economy is expected in 2018, with 2017 being difficult but paving the way for a better year: Arqaam Capital.
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Abu Dhabi’s Etihad to increase flights to Egypt
Airline sees increased flights as ‘timely’ with resurging economy in Egypt.
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Egypt, Turkmenistan not ready to join oil production cut deal
OPEC and non-OPEC countries extended the oil production limiting agreement for nine months until March 2018 on May 25.
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Egypt sees rice paddy production jumping to 6.5mn tonnes
Egypt's strategic rice reserves are set to rise to about 12 months worth within 10 days from a current level of four months' supply.
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Car prices unchanged in July except Hyundai, Nissan, Chery
The increases of the 3 companies ranged between 1,500 and 11,000. For the first time in years, car companies have not offered price cuts in Ramadan.
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Russia, Egypt to sign agreement on industrial zone formation in autumn
Russian carmakers, petrochemical enterprises, energy and medical companies are expected to locate their production facilities within the zone.
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Andersen Global Initiates Expansion in Egypt
A collaboration agreement was signed with Maher Milad Iskander and Co., an Egyptian tax and legal firm based in Cairo.
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Egypt’s economy shows signs of vigour: BNP Paribas
Inflation isn’t the only reason behind the soaring inflation,the increase in the prices of semi-finished goods and commodities is also to blame.
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Your business needs VIDEO
Forbes study shows that video is THE 2017 business trend. Higher viewership, higher ROI and 53 times more likely to be picked by Google.
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Raya awarded Wincor Nixdorf’s Best Performance Banking Partner
Raya won due to efforts to expand and to lead the Financial Solutions market in Egypt with sales exceeding 256% compared to its annual planned target.
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Egypt aims to double its high-quality cotton production and export
The government aims to increase the price of the long staple cotton to more than 3000EGP per qintar which will be exported.
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EGP 22.5bn allocated to develop electricity distribution networks
The Ministry of Electricity allocated EGP 22.5bn for the maintenance of cables and developing electricity across the country within the next 3 years.
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Egypt's parliament passes law regulating gas market
The government hopes the law will attract greater private sector participation in the country's rapidly expanding gas sector.
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V4 + Egypt summit targets improved economic ties
El-Sisi met with the Visegrad group: Hungary, Poland, Czech and Slovakia on Tuesday.
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Bond market offering 21% yields finally turns Egypt into a buy
The Egyptian Treasury bill market attracted more than $9 billion since the central bank allowed the currency to trade more freely in November.
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Egypt raises electricity prices by more than 40 percent
This is latest move on the road to lifting all subsidies and complying with demands by the International Monetary Fund for a $12 billion bailout loan.
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Egypt selects CI Capital-led group to lead IPO of ENPPI
The chosen consortium includes Jefferies International Limited and Emirates NBD Capital Limited.
