News
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Arab International Bank's ratings affirmed, remain on 'negative' outlook
Capital Intelligence announced that it has affirmed Arab International Bank's Long & Short-term Foreign Currency ratings at 'BB+' & 'B' respectively.
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Egypt destroys 4 million smuggled cigarettes
Total cigarettes destroyed amount to 32 million in total since January, worth some LE19 million.
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Egyptian rebar remains unchanged at $805 exw for second consecutive month
Egypt’s Ezz Steel has held domestic rebar prices unchanged for the second consecutive month because of weak demand, Egyptian traders told MB.
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Egypt Dairy Producers Object to Juhayna Pricing Plan, Mal Says
Egypt’s Dairy Producers Association rejected a new pricing plan by Juhayna Food Industries (JUFO), the country’s biggest packaged-milk producer.
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Egyptian bourse suffers $4.5b capital loss after US downgrade
Market capital for the stock exchange declined by 7% to 357.3 billion EGP at the end of August from 384 billion EGP in the beginning of the month.
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Egypt government to partner with private sector in construction of new cement plant
Opening up strategic national industry to the private sector, the Egyptian gov. will seek a partnership in building a new cement factory next year.
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Deputy PM acknowledges existence of fuel crisis
The shortage of gasoline and diesel is a big problem, Deputy Prime Minister Hazem al-Beblawy told Al-Masry Al-Youm on Sunday.
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Tourism investments expected to reach 6.6 billion EGP
The number of tourists visiting Egypt rose 14.3 percent and tourism revenue rose 15.6 percent during the first half of the 2010-2011 fiscal year.
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Post office employees go on strike
Post office employees in Qena went on strike to push for investigations into allegations of corruption at the National Postal Authority.
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New V.P. Operations & Business Development for Sonesta
Nahed Samir will focus on strengthening the overall Sonesta hotels & ships operations as well as enhancing the Sonesta brand’s reputation in Egypt.
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Personalised plates boss convicted over corruption charges
THE firm which produces the state's personalised vehicle number plates has been taken over by a company accused of entering into corrupt practices.
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Egypt-Libya economic cooperation starts with 2 million workers
Egypt kicks off economic cooperation with Libya with plans to send 2 million Egyptian workers there.
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Egyptian brokerage companies comprise 52.6% of trading in August
12 out of 140 Egyptian broker companies got 52.6 percent of total control of trading clearinghouses.
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EGX30 to start the week in green
Egypt's main index EGX30 closes at 0.47 up in the first session after Eid's holiday to reach 4.661.42 points.
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Egypt's OCI seen posting 33pc rise in profit
Orascom Construction Industries, Egypt's biggest listed company, is expected to post a 33% increase in 2nd quarter net profit.
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Egypt Stocks: Arab Polvara Spinning & Weaving, EFIC, Ezz Steel
Egypt’s benchmark EGX 30 Index (EGX30) increased for the first time since Aug. 24, gaining 0.5 percent, to 4,661.42 at the 2:30 p.m. close in Cairo.
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Turkey to sign strategic cooperation agreement with Egypt
Turkey's Prime Minister Recep Tayyip Erdogan is expected to sign a strategic cooperation agreement with Egypt during his visit to the country
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Egypt reduces size of T-bill sale
Egypt's central bank sold 3.25 billion Egyptian pounds in domestic treasury bills on Sunday, paring 1.75 billion EGP from the amount it had offered.
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Travel news in brief
A round-up of the week's travel news, including evidence of a sharp fall in the number of Britons visiting Egypt.
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Unemployment rising for Egypt's youth
Women are worst affected, with more than half of female university graduates unemployed.