News
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48 pct of Egypt employers to hire next quarter, finds survey
In Egypt, 27 percent said they would probably be recruiting while 21 percent definitely will in the next few months.
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Deutsche Bank cuts Mobinil’s target price to EGP 101, ups rating to Buy
Deutsche Bank slashed the strike price of Egyptian Company for Mobile Services (Mobinil) from EGP 128 to EGP 101.
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Deutsche Bank cuts Mobinil’s target price to EGP 101, ups rating to Buy
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Egypt’s banks slightly affected by US credit downgrade
Egyptian banks will only feel small effects of the U.S. credit downgrade, according to an Egyptian banking expert.
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Egypt Housing and Development Bank posts Q1 loss
The net loss of 25.9 million Egyptian pounds ($4.34 million)compared with a net profit of 59.7 million pounds in the same period last year.
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$1b Saudi-Egyptian Bank to spur economic integration
The final details of the bank project will now be discussed in Cairo at the end of September.
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Egypt Air resumes flights to Iraq after 20-year absence
Egypt's state-run airline, Egypt Air, announced Sunday it would be reopening its Cairo-Baghdad route next Saturday after 20-year hiatus.
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EU delegation to inspect Egypt over E. coli
The European Union is set to begin a 5-day tour of Egyptian governorates of Minya & Fayoum today in order to inspect for E. coli in Egyptian seeds.
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Egypt’s GASC buys USD 16.6 mln of wheat from Romania
Egypt, the world’s largest wheat importer, has bought 60,000 tonnes of Romanian wheat from Ameropa company at USD 278 per tonne.
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Exports to Egypt down 18% this year
Israeli exports to Egypt during the first seven months of the year fell 18% in relation to the corresponding period of 2010.
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Trading freezes for 15 companies for 30 minutes
The administration of the Egyptian Stock Exchange froze trading on 15 companies for a half an hour Sunday afternoon.
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Egypt leads losses on regional markets
Regional bourses fell on Sunday with the most marked decline on the Egyptian index where investors, already downbeat on the global economy.
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Ajwa standalone net loss widens in 3 months
Ajwa for Food Industries- (AJWA) reported standalone financial results posting a net loss of LE 7,668,581.
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Egypt stocks crash as anti-Israel protests continue over Sinai fallout
Egypt’s Stock Market saw its sharpest drop in more than a week as protests at the Israeli Embassy in Cairo continued for a third consecutive day.
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Switzerland commits $3.2m to help Egypt do business
The Swiss Secretariat for Economic Affairs (SECO) & IFC are undertaking a 3 year advisory programme to address three main business issues in Egypt.
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Egypt sells 5 bln Eg pounds in T-bills, yields rise
Egypt's central bank sold 5 billion Egyptian pounds in domestic treasury bills on Sunday, the same amount it had offered, the bank said.
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Citigroup sets GB Auto's target price at EGP 39, recommends 'Buy'
Citigroup defined the price estimate of GB Auto at EGP 39, with upside potential of 30.5% to its market value of EGP 29.88 on August 16th.
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CI Capital keeps Mobinil at Underweight recommendation
Rumors that Sawiris will sell his stake in Mobinil has pushed the price of EMOB higher over the past couple of trading sessions by more than 10%.
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Egypt Stocks: Amer Group, Al Arafa Investments, EFIC, Palm Hills
Egypt’s benchmark EGX 30 Index (EGX30) lost 3.2 percent, the most in almost two weeks, to 4,593.39 at the 1:30 p.m. close in Cairo.
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Emaar wins Uptown Cairo land through auction not direct order - official
Mohammed El-Gendy denied rumors that Emaar Properties had bought a piece of land spreading over 4 million sqm in Zahraa Al-Mokattam by direct order.