News
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FAIR conference aims to boost insurance industry
Egypt is hosting the 22nd Federation of Afro-Asian Insurers and Reinsurers (FAIR) conference this year.
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Russia increased grain exports to Egypt and Turkey
At the same time, Egypt (846.2 thsd tonnes) and Turkey (275.6 thsd tonnes) still were the major directions of wheat exports from Russia.
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Telekom Austria worried may be bid target for Egypt's Sawiris
Telekom Austria is concerned that it may be the target of a hostile takeover bid from an Egyptian businessman.
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Finance Minister: Borrowing is the solution for financial crisis
Local or foreign borrowing is the immediate solution to the financial crisis in Egypt, Finance Minister Hazem al-Beblawy said on Sunday.
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Orascom Development, Orascom Telecom: Egyptian Equity Preview
Orascom Development Holding AG: The Swiss developer of resorts in Europe and the Middle East said it received reservations valued at $11 million.
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Kingdom to hire 30,000 Egyptians for Haj work
An agreement has been reached to recruit 30,000 workers from Egypt to work during the upcoming pilgrimage, Haj Ministry sources said on Sunday.
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Egypt's TMG plans to invest $3bn over 3 years
Egyptian property developer Talaat Moustafa Group plans to spend EGP18bn on its two main projects in the next three years.
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Wragge & Co has advised lenders BNP Paribas & HSBC on a £31m cross-border deal
The funds will be used to finance further development of Sea Dragon’s two petroleum concessions in Egypt.
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New EGX20 index launches today
Egyptian Finance Minister Hazem al-Beblawy and Chairman of the Exchange Mohammed Omran opened the exchange this morning.
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AAIB recognized as best investment bank in Egypt
The Arab African International Bank has been recognized by New York-based Global Finance magazine as the best investment bank in Egypt for 2011.
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Egypt up on relief rally; Gulf markets muted
Egypt's main index rose 1.4 percent after dropping around 5 percent last week to reach a 29-month low ahead of the Friday demonstration.
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Egypt T-bill yields fall at $1bn auction
Egyptian Treasury bill yields retreated at an auction on Sunday after having shot above 13 percent last month.
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Egypt 'committed to free market' after investor fears
Beblawy said on Sunday that his country was committed to a free market economy, after the ownership of three companies was returned to the state.
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Bank butters up Egypt dairy company rating
Egypt's largest player in the dairy and yogurt market was cited as a "top pick" at EFG-Hermes Holding yesterday.
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Egypt Postpones Short-Selling Until Market Conditions Improve
Egypt’s stock market regulator postponed introducing short-selling until “market conditions improve,” Ashraf El Sharkawy.
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Egypt's Alcotexa sells 965 T cotton in past week
Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 965 tonnes of cotton in the week which ended on October 1st.
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Egypt's property tax to be postponed to 2013
Official sources say the law, due for eventual introduction in January 2012, will be pushed back another year.
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IMF delegation to visit Egypt over future borrowing
According to the new proposal, Egypt would take a loan of US$3 bln with a 1.5 percent interest rate. The loan would then be paid off in 39 months.
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EFG-Hermes: Chief executive has not fled Egypt
Investment bank denies rumours its head fled the country after last week's airing of a TV rogramme detailing the firm's links to Gamal Mubarak.
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Egypt asks EU to lift vegetable export ban
EU officials are set to reconsider the ban at the end of October. However, Egypt hopes that the ban may be lifted sooner.