News
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First refunds for Serbian tourists in Egypt arrive
About 240 Serbian tourists were Tuesday expelled from their hotel rooms in the seaside resort of Hurgada, Egypt.
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Armenian-Egyptian Union of businessmen to be created
Egypt is interested in developing relations with Armenia and sees cooperation possibilities in the areas of tourism, industry and culture.
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IOM Survey Finds Egyptian Migrants Returning from Libya in Need of Assistance to Start New Life
An IOM survey on the socio-economic profile of Egyptian migrants from Libya reveals that most of them require support to restart in Egypt.
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Moody's downgrades five Egyptian banks; outlook remains negative
Moody's Investors Service has downgraded the following 5 banks: National Bank of Egypt, Banque Misr, Banque du Caire, CIB, Bank of Alexandria.
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Egypt’s Sawiris bids for Orange Switzerland
Naguib Sawiris is in discussions with partners to help finance a bid for Orange Switzerland, the France Telecom mobile-phone unit.
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Stock market loses 3.7 billion EGP due to sales by Arab and Egyptian investors
Stock market dealings ended on Tuesday with a general decline in indexes with the exception of index of medium & small companies.
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CIB: Banks have the right to question sources of donations
The CIB is committed to its slogan “Know Your Customer”, and the int'l rules on money laundering are also applicable to civil society organizations.
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Credit downgrades put Egypt economy in greater risk
Egypt’s credit ratings are expected to impact the country’s banking sector as well as the economic recovery in the political transition.
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Egypt Accepts Almost Double Last Week's Repos as Yields Rise
Central bank accepted 9.8 bln LE in bids for repurchase agreements today, almost double last week’s amount, after local-currency debt yields rose.
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Egypt settles legal disputes with foreign firms
The Egyptian government has settled five disputed deals with European and Gulf investors out of court, the country's top investment official said.
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Egyptian PPP outlook positive despite of financing challanges
PPP in Egypt could face financing challenges with some int'l financial institutions reluctant to receive payments in the local currency.
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ABB to upgrade automation of Egypt Aswan hydro plants
Power and technology group ABB will upgrade the automation of the Aswan hydropower plants in Egypt, making the power generation more reliable.
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Egypt banks to close for three days for Eid holiday
Major financial institutions will be closed from Sunday to Wednesday in the coming week, the central bank announces.
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Egypt: International Bidding to Establish Biggest Wind Farm
Hassan Younis said the strategy of electricity sector aims to increase renewable energy by 20& of the total amount of power generating until 2020.
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Egypt’s Meditrade Said to Buy 59,000 Tons of Vegetable Oils
Meditrade, an Egyptian private commodity buyer, agreed to buy 42,000 metric tons of sunflower oil and 17,000 tons of soybean oil.
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Experts predict energy crisis in Egypt's future
Egypt will face a severe energy crisis in the coming years, which will require the government to search for alternatives.
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Egypt central bank to ask for LE13 billion in short-term debt sales
Egypt's central bank looks to borrow LE13 billion in eight-day repurchase agreements at 9.25 per cent.
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Abraaj boosts Egypt investment - paper
Abraaj Capital has boosted investment in Egypt despite the country's political turmoil and is now eyeing the acquisition of an oil services firm.
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Egyptians urge revision of foreign debt
Egyptian activists have launched a campaign to raise public awareness regarding the negative ramifications of foreign debt and loans on the economy.
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Pio-Tech announced lunching a subsidiary company in Egypt
Pio-Tech had announced the Opening of its subsidiary company in Egypt to provide its distinguished services to its rapidly growing client base.