News
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Citadel, Orascom Construction, Pioneers: Egyptian Equity Preview
While Citadel Capital, and Pioneers Holding drop, Orascom Construction Industries and Egyptian Kuwaiti Holding rise.
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Pay and protests in the tourism sector
Minister of Labour was concerned when chairman of ETAA Hossam el-Shaer complained that mass demonstrations were organized by local trade unions.
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Egypt's pioneers Q2 net profit jumps
Pioneers Holding made a net profit of 30.5 million Egyptian pounds in the second quarter of 2011, up from 10.1 million pounds a year earlier.
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Sawiris rules out Mobinil sale
The stock surged 10 percent Wednesday, with traders citing talk of a possible change in Mobinil’s ownership structure.
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Egypt's Orascom Development posts $17.5 H1 net loss
Orascom made a 13.7 million Swiss francs ($17.5 million) net loss in the first half of the current year compared to a profit of 50.9m a year earlier.
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Egypt mulls removing energy subsidies for certain industries
The government recognizes the importance of rationalizing petroleum product subsidies and limiting them to only those entitled to receive them.
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Johnson Controls expands operations in Egypt
Johnson Controls has joined up with the Shams Group and Tiba Engineering Industries to market its products in Egypt.
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EU gives financial assistance to Egypt, Jordan, Lebanon
The EU announced 71 million euro assistance for Jordan, 100 million for Egypt, and 34.5 million for Algeria.
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Egypt railway workers to suspend strike on Thursday
The strikers are demanding their late financial incentives.
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Egyptian Industry will survive if subsidies are removed, says official
Many industries can absorb the extra costs of removing energy subsidies, according to Ismail El-Nagdy, head of the Industrial Development Authority.
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Clinton warns of missing Arab Spring opportunity
The US may lose its chance to reshape the Mideast politics if budget pressures hobble support for democratic forces emerging in these countries.
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Yellow remittances’ from Iraq to Egypt delayed
A deal between Egypt and Iraq to cash more than $400 million due to Egyptians who worked in Iraq seems to have ground to a temporary halt.
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Advertising spending lower in Ramadan due to regional unrest
Figures yet to be released but Arab Spring and economy to blame.
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Decline of landlines hits Telecom Egypt
The global trend of customers abandoning landlines in favor of mobile phones has hit Telecom Egypt, reported a 15 per cent drop.
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Market Report: Egypt stocks up 2.27 per cent after week of loss
Mobinil played a leading role in today's rise, along with positive performances from both the real estate and financial sectors.
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Egypt military council will meet with businessmen over economy
The delegation offered a working paper for the different economic sectors, clarifying the economic situation and the challenges the confront.
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Jordan agrees to higher gas price; Israel refuses
Israel says that Egypt's prices are on par with international levels following a price hike a year ago.
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High food prices and unrest in Egypt hit tour operators and horses
Finance Minister confirmed that tourism earnings for this financial year are down $1.6 billion, which means fewer people taking horse tours in Giza.
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Ukraine canceled the ban on imports of legumes from the EU and Egypt
Limitations were canceled due to the absence of new E.coli cases in the European Union, according to official data.
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OCI Gains to Week-High After Landing Giza Power Plant Contract
Orascom said it won a $181 million contract for civil works on a 1,500 megawatt power plant in Giza, awarded by the Cairo Electricity Production Co.