Finance News
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Where will Egypt go as oil prices fall?
International oil prices are heavily declining in the Fiscal Year of 2014/2015 – how is Egypt affected economically?
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Citibank Egypt still studying banks’ offers to buy its consumer business
In October 2014, Citigroup announced it intends to exit its consumer business in Egypt, along with its businesses in 10 other countries.
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Egypt-China business council to launch investments in Egypt worth $250mn
The EJB and ECBC agreed to set up a number renewable energy projects as well as a phosphates chemical plant at a total cost of $150 million.
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Dubai Financial Market and Egypt agree on dual listings
Dubai’s agreement with MCCDRfollows a similar deal between Nasdaq Dubai and MCCDR last month.
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2014 best economic year since January 2011: CCESS
Following Morsi’s ouster on 30 June, government adopted austerity-style policies, Centre Head says.
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Alstom pleads guilty of bribing officials in Egypt, KSA
The settlement announced by the Justice Department on Monday marks the largest-ever criminal fine levied by the United States.
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Presidential decree appoints board of trustees for ‘Long Live Egypt’ Fund
Other decrees raised military pensions by 15%, approved foreign loans to enhance electricity.
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Egypt debt rally missed by outsiders shows El-Sisi challenge
T-bill rates have continued to plunge in the most indebted Arab nation behind Lebanon, even without foreign buyers.
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Fitch upgrades two Egyptian banks on sovereign upgrade
Fitch Ratings has upgraded the Long-term Issuer Default Ratings of NBE and CIB from "B-" to "B".
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Egypt says lower oil prices to slash energy subsidies bill by 30 pct
If low world oil prices continue during FYH2, it is estimated that the year's total petroleum subsidies bill will decrease by about 30 billion Egyptian pounds.
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Did ISIS affect Egypt economically?
The MENA-region suffered a $35 billion loss due to the Syrian war and the emergence and spread of the Islamic State in Iraq and Syria (ISIS).
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Fitch Upgrades Egypt to 'B'; Outlook Stable
Fitch Ratings has upgraded Egypt's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'B' from 'B-'. The Outlooks are Stable.
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Egypt's stocks rally as regional markets stabilise
A turbulent week spurred by falling oil prices ends with EGX30 stocks in the green as regional markets stabilise.
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Minister: Egypt-China trade exchange to reach $11.5 bn by 2015
Council member Ahmed al-Sewedy said the council, with its new formation, will work on attracting more Chinese investments to Egypt.
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U.S. welcomes ‘flexibility’ in $1.4 bln aid to Egypt
The massive fiscal 2015 spending bill that Congress passed on Saturday includes a longer list of conditions for releasing aid to Egypt.
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World Bank urges Egypt to make reforms before investor conference
Investors say they have only seen the general outlines of those reforms and need details before they can plan new investments.
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Petroleum prices drives stock market down: Experts
Market gains EGP 5.9bn Monday after witnessing a huge loss the previous day.
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US poised to lift curbs on $1.5bn aid to Egypt
The potential US spending bill allows the secretary of state to waive conditions placed on Washington’s nearly $1.5 billion in economic and military aid to Egypt.
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Egypt, MENA, and Subsidies: Whereto?
Egypt spends seven times more on fuel subsidies than on health, whereas the amount of fuel subsidies going to the richest quintile lies at 60%.
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41% of Egyptian corruption investigations incomplete: World Bank
World Justice Project says Egyptian citizens and businesses find it difficult to access public services without paying bribes.