News
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Egypt’s Dollar Bond Yield Rises to Record on Political Risk, IMF
“Egypt needs a heavy dose of traditional IMF medicine, including reducing budget deficit and cutting fuel subsidies.” said Gabriel Sterne - economist
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Grand Egyptian Museum construction work to resume next week
Work recommences following a contract signing with Belgium construction companies on Tuesday.
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Egypt's Sawiris faces trial for "insulting religion"
Egyptian telecom tycoon Sawiris was accused by a group of about 20 lawyers of showing contempt by tweeting a cartoon seen as insulting to Islam.
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Citadel sells Egypt energy firm stake for $147m
The sales agreement is the first of several transactions that will see Citadel Capital rationalise its portfolio by divesting non-core assets.
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Egypt's Ezz Dekheila 9-month net profit steady
Ezz Dekheila gains 0.5 percent rise in net profit to 562 million Egyptian pounds ($92.8 million) for the first nine months of 2011.
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Egypt forms commission to resolve land disputes
Instead of turning to international arbitration, the government creates a special commission to look into land disputes with investors.
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Rising spending power energizes Egypt’s domestic tourism
The country’s outbound travel market has been experiencing an extraordinary transformation.
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Sea Dragon strikes share deal to buy oil and gas company in Egypt
The properties being acquired include 100 per cent of three oil and gas concessions in Egypt — the NEM, SAZ and SHM energy prospects.
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Egypt’s treasury to save LE20 billion on new gas agreements: Minister
Egypt's minister of petroleum is determined to redraft Egypt's gas supply contract with Israel.
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Law on maximum wages to become effective in February
The law sets the maximum wage at 35 times the minimum wage for public servants, consultants and experts working on a permanent or temporary basis.
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Egypt Chamber of Tourism demand inclusion in constituent assembly
The Muslim Brotherhood's Freedom and Justice Party will discuss plans related to the tourism sector with Chamber of Tourism representatives.
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Insurance firms at stake in Egypt
In these insecure times, more and more people are taking out insurance policies, which is also pushing the cost of insurance ever higher.
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Volatile markets expected to yield growth in 2012: HSBC
HSBC’s Global Asset Management Outlook for 2012 shows the bank’s optimism regarding emerging markets.
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Egypt withdraws land from Egyptian businessmen
The land to the northwest of the Suez Canal was withdrawn from businessmen including steel magnate Ahmed Ezz and telecoms tycoon Naguib Sawiris.
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Jordan, Egypt discuss trade relation
Jordan Chamber of Commerce President Nael Kabariti urged Egypt to provide facilities for Jordanian trucks crossing into Egypt en route to Libya.
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Egypt to cut governmental expenses
Public sector worker bonuses might see cut of 10 per cent while pledge to cut government operating spending by 3 per cent remains free from details.
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ElBaradei unveils own crisis plan for Egypt’s economy
The strategy recommends the removal of bureaucratic and administrative hurdles so as to encourage Egyptian and Arab investors.
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IMF delegation to discuss loan in Egypt in mid-January
“The IMF has not formulated any special terms for aid to Egypt,” Finance Minister Mumtaz al-Saeed said.
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Arqaam Capital buys El Rashad brokerage
No financial details of the transaction were provided but Arqaam bought the entire 100-percent stake in El Rashad from Al Rashad Holding Co.
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Local initiative in Upper Egypt encourages eco-tourism
The New Hermopolis eco-village in Upper Egypt aims to encourage responsible tourism in a region off the beaten track.