News
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Egyptian billionaire sparks storm at GM over sales dealership
The plan of General Motors is to scrap the current dealership arrangement for a single sales unit to be manned by Mansour Automotive Company (MAC).
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Egypt May Raise Gold Output Fivefold This Decade, Authority Says
The mining industry should raise its contribution to the national economy to 8 to 10 percent.
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Egypt wants French wheat but at better price
Egypt, which annually consumes 14 million tons of wheat and imports about half its needs, has bought heavily from Russia this year.
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Egyptian Resorts plans Sawari launch in Q2 2012
It expects to generate sales of 2.2 billion Egyptian pounds ($369 million) from the first phase of the project.
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Egypt is facing financial crisis, says finance minister
Minister of Finance Hazem al-Beblawy said that Egypt has nearly exhausted its ability to borrow internally.
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Vice Foreign Minister Stresses China-Africa Cooperation
China and Africa have made great efforts to overcome the impact of the international financial crisis.
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Egypt needs to improve competition in IT sector: UN
UNCTAD praises Egypt's deregulation of the telecoms sector & improvements in broadband availability but says the sector still faces challenges.
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Egypt in talks with lender to ease cotton 'crisis'
Agriculture ministry is in talks with the Principal Bank for Development and Agricultural Credit over providing 2.5bn-3bn EGP for buying cotton.
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Hajj Makes Up for Egypt Tourism Losses
There are about 3000 tour operators in Egypt, including 900 which organize hajj journeys.
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State Dept. spends $70K on Obama books
The U.S. Embassy in Egypt, for instance, spent more than $37,636 for copies of Mr. Obama’s best-selling 1995 memoir.
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Q&A: US expert sheds light on Egypt's military economy
Robert Springborg, a professor at the Naval Postgraduate School in the US, has written extensively on the Egyptian military and its politicaleconomy.
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TE seeks international arbitration over Lacom
Telecom Egypt CEO Mohamed Abdul Rahim said that TE decided to go to international arbitration seeking compensation from Algeria.
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Egypt sugar beet, cane planting area seen steady-paper
In the 2010/11 season, Egypt produced 2 million tonnes of sugar from 396,000 feddans of beet and 311,000 feddans of cane.
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Calls made for subsidies to support Egyptian steel exports
The domestic bolts industry, steel structures industry and aluminum sections industry have recorded reasonable export performances.
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Mideast Outlook Varies Markedly Across Region
Region faces uncertainty from a possible global slump and regional unrest and oil-exporting economies buoyed by higher oil prices.
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Egyptians build, shop for homes despite downturn
Egyptians are still building unlicensed property and even those with mortgages are paying early, rather than defaulting.
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Tahrir Square protesters send message of solidarity to Occupy Wall Street
Egyptian activists who helped topple Hosni Mubarak have lent their support to growing Occupy movement in US and Europe.
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US and Egypt discuss ways to expand trade
Two-way goods trade between the US and Egypt increased more than 30 per cent in 2010 to $9.1 billion, while US investment in Egypt rose 28.4 %.
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Egypt high-caps pull main index up 0.85 per cent
Positive news for Orascom Construction and EFG-Hermes adds to the steady performance of global stocks to lead the benchmark back into the green.
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Mobinil posts 96 pct drop in Q3 profits year-on-year
The firm's second-quarter earnings had been affected by a drop in subscribers who took offense at a cartoon tweeted by Sawiris in June.