News
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Egypt: CBE Report - Balance of Payments Deficit Hits $ 12.7 Bn During First Nine Months of 2011
The Egyptian economy's transactions with the outside world during the period between July and September 2011/2012 resulted in a deficit of $ 2.4bn.
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Continued Growth in Egypt's Outsourcing Industry in 2011
On-going investment in Egypt sees outsourcing industry grow- Valeo, Stream Int'l, Orange, HSBC and Sutherland all expand operations in Egypt.
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Rock phosphate imports from Egypt to be checked
India has decided to monitor all rock phosphate imports from Egypt for quality following recent instances of low-grade material being exported.
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TE Data loses USD208m from illegal connections
TE Data, Telecom Egypt's internet service provider subsidiary, has lost revenues of up to EGP 1.25bn this year due to illegal broadband connections.
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Political challenges cloud Egypt's economic outlook: report
“Cloudy with a chance of sunshine” is how Beltone Financial described the market forecast in 2012 for the MENA region.
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Sultan donates books to Egyptian institute
The Sultan Al Qasimi Centre for Gulf Studies has started sourcing original books, manuscripts and maps to be sent to Egypt.
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Egypt Bond Rating Cut as Violence Takes Further Toll on Economy
Egypt’s government bond rating was downgraded for a fourth time in a year, as 10 months of political unrest to bring the economy to a standstill.
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Jordan, Egypt sign amended gas agreement
Jordan and Egypt signed an amended gas-pricing agreement in Cairo on Wednesday.
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From Tahrir to Trade: US Economic Policy in Egypt
Egypt’s economy may face a severe crisis due to persistent street protests, strikes, rising inflation, increased food prices and unemployment.
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Mint and Egyptian Government Bank Sign a MOU for Significant Payments Infrastructure Project
MINT and PBDAC will jointly invest in an existing subsidiary of the bank, eCARD (Egyptian Company Agricultural Rural Development).
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Egypt’s?stifled?SMEs?gear?up?for?listing
Amid the political uncertainty and stubbornly high unemployment in Egypt, the underserved small and medium-sized businesses sector can drive growth.
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Market Report: Egypt stocks fall but decline rate eases
Market continues to suffer repercussions of ongoing political instability, albeit to lesser degree.
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Egyptian restaurant now open in Greensboro, USA
With the revolution in Egypt still creating headlines, a new Greensboro restaurant hopes to capitalize on the interest in the country.
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Moody’s hits Egypt with downgrade
Moody’s, rating agency, has downgraded Egypt’s sovereign bond ratings by one notch to B2 from B1, pushing it further into junk territory.
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Egypt’s economy to grow by 3.1 percent next year
Egypt’s economy will grow by only 1.8% this fiscal year and 3.1% next as it recovers slowly from the political upheaval and disrupted the economy.
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Tourist arrivals drop 24% in third quarter
Tourism in Egypt was down almost 24 percent for the third quarter of 2011 compared to the same period last year.
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Egypt announces plans to upgrade ports and railway links
A study is to be conducted into transport in Egypt to assess ways of establishing better links between the east and west.
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Egypt: Gov't, Iraq Eye More Cooperation in Power Field
Electricity Minister Hassan Younis held a meeting on Monday 19/12/2011 with his Iraqi counterpart Karim Aftan for cooperation.
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Wealth of world’s richest Arabs jumps 5 per cent
Saudi prince Alwaleed bin Talal topped the richest Arabian Business Rich List and the Sawiris family are the only Egyptians in the list 2011.
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Political unrest pushes Egypt towards economic meltdown
While clashes continue in the centre of Cairo, Egypt is headed towards a major financial and economic crisis.