Trade News
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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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Egypt to auction 8 oil and gas blocks in Mediterranean: ministry
The auction is expected to be launched before the end of February.
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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: Sace, Italian exports potentially worth 5 bln in 2019
In Egypt, Sace has a portfolio of insured engagements worth some 480 million euros, mainly in energy, petrochemical and industrial technology.
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Egyptian developer Palm Hills posts 2014 profit of 353 mln pounds
Revenues rose to 2.1 billion from 1.2 billion pounds.
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DCNS Exports Pegged to Egypt Frigate Order
Egypt is due to pay for the frigate in full rather than by installments when the ship is handed over in August.
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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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Egypt's Suez canal revenue at $434.8 mln in January - state news agency
The revenues decreased from December.
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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 approves €344m French aid to revamp infrastructure
The aid will be used to buy trains for metro lines.
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Egypt's Qalaa considers sale of food businesses, sees 2015 profit
Qalaa is seeking to raise $300 million through divestments and considering selling Rashidi El-Mizan and Dina Farms.
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Triumphant Egypt return to bond market risks ultra-tight pricing
Egypt is outperforming even more highly rated bonds.
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Egypt holds Oil and Gas Summit
The summit tackles development of the oil and gas industry and undiscovered resources in Egypt.
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Ezz Steel posts Q3 loss of 285 mln Egyptian pounds
The losses of the biggest steel manufacturer have doubled since last year.
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Half projects in Egypt March investment conference to be in energy sector
The government signed many energy deals and plans to scrap crippling subsidies by 2019.
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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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Cyprus and Egypt just tightened their energy cooperation
Egypt is looking to import Cypriot gas both for domestic use and for possible re-export to other countries.
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Etisalat Egypt receives $120m Bank of Abu Dhabi and HSBC loan
Etisalat Egypt has repaid the last portion of the $300m loan it received from several banks in 2010 through premiums. The loan was fully repaid in 2014.