Finance News
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Funds positive on UAE, Egypt stocks in era of cheap oil-survey
The plunge of oil and equity prices over the last several months has stunned managers, and they may therefore invest their 2015 equity allocations to the region only gradually.
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Khalifa Fund, AFD offer funding to Egypt projects
63,000 projects will benefit from the fund’s finance programs, which will provide around 79,000 jobs, the minister added.
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Egypt's growth rate hits 2.1 pct in FY '13-14 - CBE
Sectors of trade, and industry and real estate activities as well as social services have seen a recovery.
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Egypt current account hits deficit of $1.4 bln in July-Sept quarter
The deficit was driven by a wider trade gap and a contraction in net transfers, according to a statement posted on the central bank's website.
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French investments in Egypt hit $6.7bn
Speaking during a meeting with the French Ambassador in Cairo, Ms. El-Ahwani pointed out that trade between the two countries had hit $3.1 billion in 2013.
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France loans Egypt €7.15m to develop Taba International Airport
Loan scheduled to be repaid in 20 years, with six year grace period and 0.17% interest.
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10 firms to be listed in new year
In 2014, the EGX management listed 13 new firms in the main market and NILEX with a total capital worth 1.9 billion EGP.
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Index funds delayed to January, secondary market for bonds awaits consensus: EGX Chairman
Index funds allow for stock indexes to be exchanged as documents through funds run by professional fund management companies.
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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.