Finance News
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Orascom Construction offers 11 pct of shares in $185 mln IPO
Orascom said the stock would be offered in two tranches, with the first closing on Thursday.
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Barclays African Unit May Buy Parent’s Zimbabwe, Egypt Banks
Barclays bought its parent company operations in 8 African countries.
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Egypt’s budget deficit increased by 32.9 percent in six months
The main reason is the decrease in grants from Gulf countries.
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EFG Hermes eyes Egypt renewables investments, leasing business -CEO
Egypt is shifting attention to renewables to face the energy crisis.
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Egypt's central bank sells $420 mln in interbank market
The sale was made to meet outstanding demand for staple commodities, raw materials and pharmaceuticals.
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Egypt equities lose LE15.6bn in February
Egypt is hoping to attract the foreign capital needed to boost growth and provide jobs.
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NBE to grant credit for 640 housing units
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms.
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Egypt’s central bank keeps interest rates unchanged
Key interest rates were surprisingly cut by 50 basis points last month.
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$6bn foreign company investments in FY 2015/2016: El Molla
Total foreign investment, which is being pumped this year, is estimated at $7.5bn.
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Egypt ready for change in a cash economy
Cash still dominates the Egyptian consumer economy. It accounts for an estimated 94 per cent of financial transactions in the country.
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Egyptian pound steady at official auction, stronger on black market
The government is trying to bolster the economy ahead of a major investment conference next month.
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Egypt banks saw cash inflows of over $400 mln in a week: CBE governor
New restrictions on cash deposits are paying off as banks are sold unprecedented amounts of dollars in cash.
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Foreign currency availability in market improves: FEDCOC
El-Wakil attributed the improvement to the recent (CBE) instructions regarding prices of exchange.
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Egypt’s stock market to see boom in 2015: EGX Chairman
Omran: The EGX indexes have been the highest worldwide for the past 84 months.
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Egypt hikes tax on cigarettes for third time in a year
An increase in sales taxes on cigarettes is part of a wider trend from the state which has raised taxes to bring down budget deficit.
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Ministry of Supply studies listing FIHC in stock market
Ministry of Petroleum is also studying possibility of capital market listing.
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Egypt's Qalaa Holdings approves 1.7 bln Egyptian pound capital hike - sources
Qalaa has some $9.5 billion in assets under management, including dozens of firms mainly in Egypt, east and north Africa.
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Egypt bourse approves CIB $300 million capital increase
CIB reported a 36 percent year-on-year rise in its fourth quarter net profit to EGP 1.03bn.
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Economy recovering, EGX records show: Dcode EFC Report
The report featured on the official website “Egypt the Future” created to promote Egypt’s Economic Summit.
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