News
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Egypt central bank accepts repos worth 6.2bn Egyptian pounds
Egypt's central bank accepted 6.227 billion EGP in 7-day repurchase agreements in the money market on Tuesday, the entire amount was offered.
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Egypt announces first post-uprising oil, gas round
The Egyptian General Petroleum Corporation plans to hold its first oil and gas bidding round since the uprising that toppled President Hosni Mubarak.
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Protesting Telecom Egypt workers deny rumors they will cut-off communications
Workers and employees in Telecom Egypt corporate denied Tuesday any plans to cut off communications during their protests against the administration.
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Egypt hires Swiss law firm to monitor assets investigations
The committee was formed in the wake of Hosni Mubarak’s resignation in February in an effort to reclaim money stolen from the country.
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Egypt Credit Rating Cut to BB- by S&P on Deficit, Risks
Egypt’s rating was cut one level by Standard & Poor’s on concern that a new government may fail to contain growing budget deficits in int'l reserves.
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Egypt to rely heavily on local banks’ finance as further inflows absent; HSBC
HSBC stated, in a recent report, that recent news flow suggests that promised external financing to Egypt is starting to materialize.
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Egypt stocks close Tuesday down 0.8 per cent
Egyptian stocks have closed in the red for the first time in five days, the EGX30 finishing Tuesday down 0.81 per cent at 4,214 points.
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Egyptian Bourse reshuffles regulations regarding listing
The Egyptian Bourseto attract a number of companies to be listed in the securities market, whether they be in the main or the Nile Bourse, Omran said
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Egyptian Stocks: Orascom Telecom, Telecom Egypt, Sharkia
Egypt’s benchmark EGX 30 Index (EGX30) decreased for the first time in more than a week, dropping 1.3 percent to 4,193.95.
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Mubasher Financial Services appoints new Managing Director in Egypt
Mubasher Financial Services has announced the appointment of Ehab Rashad as Managing Director of Direct Broker for Securities - Mubasher in Egypt.
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Egypt Central Bank to offer 7bn EG pounds in repos
Egypt's central bank said it will ask for 7 bln EGP in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25%.
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Saudi's Savola buys two Egyptian companies
Saudi Arabia's Savola Group has signed an agreement to buy a 78 percent stake in two Egyptian firms for 557 million EGP, it said on Tuesday.
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Sinai gold that could bring Egypt billions
Egyptian mining chiefs now plan to invite investors to carry out gold exploration in the Sinai.
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Egypt's trade deficit shrinks 14 % in July
Egypt's trade deficit narrowed by 14 percent in July from a year earlier to 13.5 billion EGP, the state statistics agency CAPMAS said on Monday.
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Egyptian Company Borrowing Drops to Two-Year Low: Arab Credit
Egyptian companies are delaying expansion plans, driving debt levels to the lowest in almost two years.
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Egypt softens stand on value addition for Comesa goods
Egypt has dropped its demands for a higher threshold for value addition on goods produced and traded within in the region.
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Egypt eyes green and sustainable tourism
Egypt will establish a department in the Ministry of Tourism to promote green and sustainable development, it was announced on Monday.
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Markets close up Monday
The Egyptian stock market’s main index gained 2.09 billion EGP on Monday, supported by purchases by foreign and Arab investors.
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HSBC report sees bright trade future for Egypt as deficit narrows
Egypt's economic situation should stabilize on the long-term, according to a trade forecast published last week by HSBC Bank.
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KCCI stresses significance of trade partnership with Egypt
Khaled Al-Saqr underlined on Monday the importance of exerting efforts to maintain the level of strong economic relations between Kuwait & Egypt.