Finance News
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NBE signs protocol with Misr El Kheir to pay off debtors' dues
The protocol comes as part of the Bank's attention to help the poor Egyptian families from suffering.
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Egypt imposes property tax on oil and gas fields
Property tax is set at 10 per cent of a unit's rental value and three per cent of a unit's capital value.
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Egypt's president ratifies property tax law
Amendments to property tax low cover issues of raising property values, exemptions and forming assessment committees.
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Beltone manages EGP100m Misr Insurance investment fund
The fund will be managing various financial tools such as fixed income, deposits, treasury bills and deposits.
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Rumours of IMF negotiations untrue: Finance Minister
Negotiations between the IMF and Egypt were suspended indefinitely following the election of former president Mohamed Morsi in June 2013.
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Egypt’s Talaat Moustafa posts 12% increase in net profit in first half 2014
Revenues were up to 2.663 billion pounds compared to 2.418 in the first half of 2014.
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Egypt's Qalaa Holdings Q1 net loss widens by 7 pct
Net losses for the first quarter dipped seven percent year on year to reach 231.9 million pounds due to increased charges.
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PM: Egyptian banks to issue 5-year investment vehicles for Suez Canal
The new Suez Canal project will be funded by debt certificates to be issued “in about a week”.
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Austerity measures won't save Egyptian economy
Without any reform, the total deficit would reach 243 billion EGPs ($34 billion), or around 12% of gross domestic product (GDP).
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Faisal Islamic Bank of Egypt selects SunGard risk management solutions
SunGard to help build a new operational framework for improved risk exposure, reporting and Basel compliance.
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Property stocks boost Egypt bourse
The main Egyptian benchmark rose 0.4 percent, its sixth gain in seven sessions, to 9,274 points, bringing its gains to 87 percent.
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CIRF, Rasmala Securities halt evaluations bidding to manage Egypt Post portfo
CIRF and Rasmala Securities both had a technical standard of 93.5% each, while HC and Prime stood at 93.1%.
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Tahya Masr Fund to establish branches abroad, including US: PM
New fund will serve as a charitable foundation that receives donations from the Egyptian community in the United States, says PM’s media adviser.
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Egypt to hold price for local wheat steady -PM
The government purchased wheat for 420 Egyptian pounds ($58.74) per ardeb (150 kg) in the most recent harvest season which ended in June.
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Egypt has potential to grow, but sustainability depends on government: WB
Pace of growth in seven Middle Eastern countries remains “far below” the rates expected in the 2000s, the World Bank indicates.
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Egypt's consumer inflation jumps to 10.6% in July
Annual core inflation rose to 9.35 percent in July from 8.76 percent in June, the central bank said in a statement later on Sunday.
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Barclays contributes EGP3mn to develop slum areas in Egypt
Sherif further stated that Barclays Egypt's board allocated more than EGP 6 million for Corporate Social Responsibility and donations.
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Mobile phones are next generation’s tool for electronic payment in Egypt: VISA
Using mobile phones to make payments requires an infrastructure that is not currently present in Egypt though.
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Egypt foreign reserves rise to $16.736b at end-July
Reserves rose last year when Gulf Arab states gave billions of dollars of aid after the army deposed elected Islamist President Mohammad Mursi.
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Egypt's Juhayna second-quarter profit falls
A 6-percent rise in sales was outpaced by a nearly 12-percent surge in the costs of goods sold, the company said on Wednesday.