Finance News
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Egypt's Beltone Financial to spend $42 million expanding next year
Beltone considers new investments as the Egyptian economy stabilizes.
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Egypt targets budget deficit of 8% by 5 years: Finance minister
Restructuring of energy subsidies will push down budget deficit, while tax and subsidy reforms will help lower public debt, says minister.
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Egypt banks slowing government bond trade plan, regulator says
Plans to allow the trading of government debt on Egypt’s bourse have stalled amid the lack of “urgency” by banks that hold most of the securities.
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Deutsche Bank plans to allocate $35m in grants to Egypt: Investment Minister
German bank studying new and renewable energy and road projects, as well as Suez Canal Axis Development project.
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PAYFORT set to unveil e-payment solutions at Cairo ICT 2014
The online payment service provider continues to see great future for Egypt’s e-commerce industry, and aims to help it realize its potential.
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Foreign investment in Egypt doubles to over $6 bln in 2013/14
After nine months of the 2013/14 fiscal year, FDI had stood at $4.4 billion.
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Egypt Q4 GDP growth rate up to 3.7 pct as confidence returns
Economic growth rate rises up beginning April till end June 2013 as confidence increases - annual growth remain relatively low at 2.2%.
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Citigroup says goodbye to Egypt, 10 countries
Citigroup, the U.S. bank with the broadest global reach, isn't so keen on globalization these days. It's pulling out of 11 countries.
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Egypt to receive $5bn in loans from UAE and Saudi Arabia: Source
Saudi Arabia and UAE pledge $5 billion to prop up Egypt FX reserves after return of Qatari deposits.
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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).