News
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Egypt bets on local banks to snap up $839 Million Bond Sale: Arab Credit
Senior economist at Exotic Holdings Ltd. says domestic demand will be sufficient to stop yields from going up more.
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Egypt to grant five new steel licenses
Only currently established companies will be eligible to bid for the licenses, which are planned to be granted within the coming three months.
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Saudi Arabia, Egypt set up joint bank
Trade between Saudi Arabia & Egypt has reached more than four billion dollars per year, with Saudi investments in Egypt topping $10 billion dollars.
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Revolution blamed for Egyptian Financial & Industrial Company's first-half profit slump
Egypt's biggest publicly traded phosphate-based fertiliser producer said yesterday profit in the first half fell 47 per cent from a year earlier.
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Egypt's EFG-Hermes says Q2 net profit 79 Mln EGP
EFG-Hermes, said on Sunday its net profit for the second quarter of 2011 fell 19 percent year on year as operating costs outstripped revenue growth.
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Egypt to seek lift of EU ban on 15 agricultural products
A round of negotiations between Egyptian Agriculture Ministry experts and the European Union (EU) will start on 21 August.
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Manpower minister: First ever business syndicate established
Manpower & Immigration Minister Ahmed Al-Borai announced on Sunday the establishment of Egypt's 1st ever trade union for businessmen & businesswomen.
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Industrial, small business projects on the rise in Alexandria
With a strategic location in the Mediterranean, Alexandria is seen as a city “hooked” up to everything.
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Main Egyptian indexes post profit of 3.2 billion EGP to begin week
The main Egyptian stock indexes closed today’s session with a 3.2 billion EGP (U.S. $537 million) gain, mostly due to Arab investors.
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100 Million EGP Credit Facilities for Raya Holding
In line with its strategic investment plan, Raya Holding is pumping new investments in its operations.
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Egypt accepts US$2 bln from World Bank
The Ministry of Int'l Cooperation has accepted US$2 billion in grants & loans from the World Bank under the Partnership for Development program.
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Reviving the Egyptian economy is in hands of the government: IMF official
IMF's deputy director for the Mid-East & Central Asia tells Ahram Online that a smooth political transition is the key to Egypt's economic revival.
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Egypt sells 2.5 bln Eg pounds in T-bills, as planned
Central bank sold 1 billion pounds of 91-day T-bills on behalf of the ministry at an average yield of 11.907 percent.
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Egypt to confront imminent electricity crisis on fuel shortage
Egypt's electricity and oil ministries are planning to confront the imminent energy crisis, which has already resulted in power cuts.
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2.3b EGP for treasury bill tenders for 250 days
The maximum cost benefit of the treasury bill of 182 days recorded 12.500 percent, and the minimum cost benefit is 12.400 percent.
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$130m Egyptian power project green-lit
Local component of the project will be financed by Middle Delta Electricity Production, and is expected to be launched in simple cycle in 2013.
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Telecom Egypt releases second-quarter results tomorrow
As EGX30 lost 4.5% last week, Telecom Egypt worries about its second-quarter results, due to a 6%-fall last week - the lowest weekly drop post-Jan25.
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Egypt to host official World Tourism Day celebrations
Tourism is one of the most important sectors of Egypt, representing 12% of the country's GDP in 2010 and responsible for one in every seven jobs.
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115 new companies with a capital fund of 150 million EGP
The newly established companies will grant around 1496 jobs in the management, agriculture, engineering, medical, craftsmanship and tourism sector.
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Mideast private equity recovery seen in ’12
Standard Chartered: Market conditions to improve next year & plans to invest up to $200mn in new private equity deals in the MENA.