Finance News
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Egypt's Qalaa Holding expects return to profit by first quarter 2016
Firm hopes 4 year old turnaround plan will bear fruit in another 4 years as it sells non-cash generating assets.
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Egypt sees GDP to grow 6% by 2018
Egypt’s real GDP in FY 2013/2014 reached 2.2 percent, almost the same as in the preceding fiscal year.
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Capital market sheds over EGP 14bn
Egyptian markets influenced by losses in the international and Arabian capital markets.
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EBRD invests $713m in 15 projects in Egypt: Philip ter Woort
Bank meeting with consultancy firm to consider supporting Suez Canal Corridor projects, bank’s Egypt Director.
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Minister: IMF mission to visit Egypt by end of 2014
"A delegation from the IMF will visit Egypt later this year to review the Egyptian economic situation," Ahwany said.
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Egypt has paid back $500 mln to Qatar - central bank governor
The monarchy, a strong supporter of Mursi's Muslim Brotherhood, provided some $7.5 billion in loans and grants during Mursi's year in power.
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Egypt's net international reserves up to $16.9 bn
Foreign reserves will be tested when Egypt returns large sums to Qatar given during presidential term of Mohamed Morsi.
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Egypt consumer inflation fell to 11.1 pct in September
Egypt's economy has been in turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011.
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Egypt will return $500 million to Qatar in October
Central bank governor says Egypt will pay deposit back at the request of Qatar.
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IMF cozies up to Egypt amid economic reform
The IMF is already talking with Egyptian officials about its economic outlook and value-added tax policy, according to Lagarde.
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Egypt cuts accumulated oil debt to $4.9bn
The loan was secured from National Bank of Egypt (NBE), Commercial International Bank (CIB), the Arab African Bank and Qatar National Bank (QNB).
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IMF to participate in Egypt's economic summit: Lagarde
IMF's managing director calls Egypt's reforms 'encouraging', ahead of summit to attract international investors to range of projects.
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Reining in Egypt’s Military aid
Egyptian leaders have come to see the annual $1.3 billion American military aid package as an entitlement they are due in perpetuity.
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Egypt's budget deficit between 12.5-12.6% of GDP in FY2013/14
The government had aimed to limit the deficit to 9 percent of GDP, but failed to take the necessary measures, said Demian.
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Egypt pays $1.5 bln to foreign energy companies - oil ministry
Egypt has paid $1.5 billion of its debt to foreign energy companies, the oil ministry said in a statement on Thursday.
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Egypt's Qalaa Holding eyes $560 million capital boost
Private equity firm considering share issue worth LE4 billion in effort to tighten control of core investments, sources tell Reuters.
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Egypt's bourse to close Oct. 5-8 for Eid holidays
The bourse and banks will remain closed for three days and reopen Wednesday, October 8th.
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Personal savings dominate Suez Canal certificates’ purchases: Baseera
42% of certificate-buyers used money kept at home, 38% used bank savings, 13% used Egypt Post savings.
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Egypt's BOP records $1.5 bn surplus in FY 2013/14
Egypt's balance of payments in surplus despite low tourism as remittances and Arab aid increase.
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Payfort launches pay@store service in Egypt
Payfort has announced the launch of its pay@store service in Egypt.