Trade News
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Egypt's trade deficit rises 22% in December
The deficit was driven by a 9.6 percent increase in imports and a 3.5 percent decline in exports.
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Al Baraka group to invest LE2 billion in Egypt
The Egyptian economic conference set to begin on Friday will host high level diplomatic and business delegations from around the world in a hope to changes its fortunes around.
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CIB Starts Due Diligence on Citigroup’s Egypt Retail Business
Citigroup is exiting its consumer banking business in 11 countries to focus on markets with great scale and growth potential.
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Inflation rises to 10.7% in February
The cut was attributed to a decline in the headline consumer price index (CPI) by 1.53% in November and 0.07% in December.
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Siemens to supply four turbines for Egypt power plant
Egypt is facing one of its worst energy crunches in years.
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Egypt: Businessmen Association Urges Saudi Investors Exiting Yemeni Market to Shift to Egypt
Egypt strongly believes heavy participation in its economic conference would help its economy recover.
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Egypt takes part in business seminar in Malta
The conference marks the launch of the Malta-North Africa business council.
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Egypt targets FDI worth $60 billion over four years: minister
Arabi said he expected the law to be issued by presidential decree within days.
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India,Egypt form group to cooperation on environmental issues
Climate change and environmental education are among the priorities of the cooperation.
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Minister: Egypt's economy grew 4.3% in fiscal 2nd quarter
Arabi said unemployment was at 12.9 percent at the end of December, down from 13.4 percent a year earlier.
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Italian firm D'Appolonia wins bid for Egypt's 'Golden Triangle' project
Egypt’s cabinet decided to establish an independent entity to manage the project and start a bid for an international consultancy firm.
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Egypt to launch $1.6B ‘Money, Business Center’ project at March Summit
Investment returns from the project will range between 25 to 30 percent.
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Egypt's Suez Canal expansion could see it dominate economy
The $8bn project, led by the Egyptian army, has been underwritten by Egyptian citizens who purchased canal investment certificates.
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BP unveils USD 12 bn investment in Egypt gas fields
Gas will be produced by two BP-operated offshore blocks North Alexandria and West Mediterranean Deepwater.
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Egypt to offer projects worth USD 35 billion during conference
Egypt's budget deficit reached 12% since 2013 and it received USD 20bn from Gulf countries.
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Egypt external debt decreases to $41 billion
The bank is committed to paying about $2.4 billion in external debt during 2015.
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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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Egypt to promote $10 bn worth of petroleum projects at March conference: Ministry
The government hopes to attract massive investments in oil, LPG lines and petro-chemicals to jolt a faltering economy.
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Egypt’s foreign reserves up by $27m in February
Egypt Foreign reserves were affected by repaying debts.
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Egypt: Oil, gas debt to be settled late
Egypt aimed to fully repay its $3.1 billion (R36.2bn) debt to foreign oil and gas companies by the middle of next year.