News
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‘No profits, no incentive payments’
Many labour strikes taking place, some demanding to obtain the two-month incentive grant first offered to the workers last year.
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Egypt BoP deficit at US$9.2 bln in FY 2011
The current account deficit narrowed 35.9 percent to $2.8 billion during the year.
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Exxon Mobil Egypt launches the Seven Habits of Highly Effective People training program for its cust
ExxonMobil Egypt, a global leader in lubricants manufacturing, launched a training program to improve Egyptian industry productivity.
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Editorial: Do we really need US aid?
This question might seem silly at a time when Egypt is suffering from chronic economic problems and is sorely in need of financial assistance.
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Egyptian Inflation Slowed to 8.5% in August as Food-Price Increases Eased
Food and beverage costs, the biggest component in the consumer price index, increased an annual 12.2 percent, from 16.7 percent a month earlier.
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G8 to extend Arab Spring financing pledge to $38 bln
The financing should support reform efforts in the wake of the Arab Spring uprisings.
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Egypt set for loans from Saudi Arabia, UAE soon
Hazem El-Beblawi has added that another $500m should come from the Arab Monetary Fund.
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Egypt's Suez Canal August Revenue $472.9 mln
Suez Canal Revenues are up 5.3 percent from a month earlier, a government portal showed on Saturday.
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Electrolux completes Olympic Group acquisition
Electrolux now owns 98.33% of Olympic Group's shares and intends to offer the remaining minority shareholders the opportunity to sell their shares.
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Tourism officials blast Egypt's new visa restrictions
Two tourism officials have criticized the new government's policy of halting issuing visas for foreign travelers into Egypt.
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U.S. firm makes major oil discovery in Egypt's Western Desert, near Libya
Apache Corp. reported two oil discoveries in Egypt's Western Desert near the border with Libya.
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Egyptians make up 75% of stock transactions
Egyptian investors made up 74.5% of transactions this week, Non-Arab foreigners made up 19.21% of transactions, and Arabs made 6.29% of trades.
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Egypt to build $400 mln sugar refinery
A sugar beet refinery to be built in Port Said at a cost of $400 million will have a capacity of 500,000 tons of sugar a year.
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Egypt says expects growth of 3-3.5 pct in FY11/12
Egypt's planning minister said on Thursday she expected an economic growth rate of 3 to 3.5 percent in the current fiscal year 2011-2012.
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Market Report: Egypt stocks in green on eve of renewed protests
Strong interest in high-cap telecoms shares pushes the main index up 0.59% but Egyptian investors show caution before weekend's demonstrations.
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Ministry of Finance issues 6 bn EGP in T-bills
The Ministry of Finance announced a 6 billion EGP (U.S. $1 billion) sale of treasury bills Thursday.
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Western visitors to Egypt must obtain visas before arrival
Egypt will require visas from all travelers prior to arriving in the country, ending decade-long unrestricted entry.
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EFG closes Egypt's Olympic Grp sale to Electrolux
Mideast investment bank EFG Hermes says it has closed the $404 million sale of Egypt's Olympic group to Sweden's Electrolux Group.
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Egypt ranks 94 in global competitiveness, falling 13 spots
Egypt came in at 94 out 142 countries, receiving a 3.9 rating on a scale of one to seven, while last year it ranked in 81 out of 139.
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Egypt Economy Grew 1.8% in Last Fiscal Year Amid Uprising
Egypt’s economy grew 1.8 percent in the fiscal year that ended June 30, its weakest performance in at least 10 years.