Finance News
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Egypt trade deficit down in May
Trade deficit in decline for 10th consecutive month as exports increases 7.6% and imports fall 13.6%.
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Egypt seeks to have first, biggest commodities exchange in MENA
Egypt plans to launch the first and biggest commodities exchange in the Middle East in the coming period, said Minister of Supply Khaled Hanafy.
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Egypt pulls bond sale as Suez Canal CDs prompt yield demands
The central bank, which conducts debt sales on behalf of the Finance Ministry, called off yesterday's auction of 2 billion Egyptian pounds.
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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.