News
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Stocks fall for fourth straight day
The Egyptian main stock index dropped today for the 4th day, thought largely as a result of sells by Arab, Egyptian and foreigner shareholders.
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Misr Duty Free Shops AGM approves cash dividends of LE 0.55/share
Misr Duty Free Shops - (MFSC) approved in its OGM meeting to distribute cash dividends of LE 0.55/share.
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NBE supports Egypt's travel industry
The National Bank of Egypt (NBE) will reschedule debt installments for travel companies for a year ending in June 2012.
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Egypt says it paid Dana Gas
Egypt on Thursday said that it has paid all delayed payments to the United Arab Emirate’s energy company Dana Gas.
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Half-price foods for 64 million Egyptians during Ramadan
A new system will provide poorer Egyptians with half-price essentials during the month of Ramadan.
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Holding Mubarak’s trial in Cairo will be good for tourism, says minister
Mounir Fakhri said on Thursday that holding the trial of deposed President Mubarak in Cairo & not in Sharm el-Sheikh would be good for tourism.
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Telecom Egypt awards salaries restructuring system tender to PwC
Telecom Egypt (TE) announced today that PricewaterhouseCoopers (PwC) was the best bidder in the tender it offered last month.
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Egypt sells LE 6 bln in T-bills, as planned
Egypt's Ministry of Finance said the central bank sold LE 6 billion ($1.01 billion) in domestic treasury bills on Thursday.
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Experts say agriculture could be key to restoring Egypt's economy
Egypt’s historically powerful agriculture sector has been in serious decline over the past 30 years, but still comprised 13.7 percent of GDP in 2010.
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Egyptians raise over $200,000 via Twitter
Egyptian activists have raised over $200,000 in one week for the development of Ezbat Khairallah, an impoverished community of some 650,000 people.
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Telecom Egypt to post H1 financials August 15th
TE announced today, July 28th, that its consolidated & non-consolidated financial statements for the fiscal period will be released on August 15th.
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Bank deposits and credit facilities grow slightly in May; CBE
Total bank deposits grew by 0.6 per cent between April and May to reach LE951.7 billion, according to the latest figures published by the CBE.
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Egypt vehicle sales drop 23 per cent in year to June
Wider drop masks a slight monthly rise, with Egypt's GB Auto expected to see steady sales growth over rest of 2011.
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Egypt's bourse slips on non-Arab selling
For the 7th day in a row, Egyptian were in the red on Wednesday amid low volumes, traders said. Volume totalled LE296 m., according to Bourse data.
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Lecico says some Egypt factories halted by strikes
Egyptian ceramics maker Lecico said on Wednesday a workers strike that began on Tuesday had halted operations at its sanitary ware & tile factories.
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Tweetback raises over LE 1.3 million for Ezbet Khairallah in 10 days
Egypt’s first social media-driven humanitarian fundraising project Tweetback managed to raise over LE 1.3 million in funds for Ezbet Khairallah.
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Egyptian financial experts urge foreign investment, not loans, in uncertain climate
The latest report from the int'l finance institution said that political disorder in Egypt led to the withdrawal of $16 b dollars of foreign capital.
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Egypt’s successful bond sale may fuel further investment
Egypt’s success in selling two-year debt for the first time since February’s popular revolt may encourage foreign investors.
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Nielsen: 72% of Egyptians cut spending in second quarter
A study by global market research company Nielsen has revealed that the Egyptian consumer confidence rate fell from 102 to 92 points.
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US chain Applebee’s eyes Egypt for expansion
Applebee’s has announced plans to grow its brand in the Middle East with the launch of 10 new restaurants in Egypt over the next decade.