News
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Disney lifts ban on merchandise manufactured in Egypt
Egypt has been holding talks with Disney since March to lift the ban.
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Egypt fuel price hikes fan inflation fears
Analysts believe fuel price hikes will increase inflation although it was announced to have decreased in May to an annual rate of 30.9% from 32.9%.
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Investment Should Be The Growth-Driver For Egypt’s Economy
Egypt’s economic structure is changing in the face a number of challenges. Private consumption is slowing and unemployment is dropping among others.
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Egypt raises fuel prices by up to 50 pct
The price of 92-octane gasoline had been put up by more than 40 percent to 5 Egyptian pounds ($0.2767) from 3.5 pounds per liter.
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Egypt-Belarus 2016 trade exchange hits $57.8mln
Belarusian exports to Egypt reached $43.35 million, while the value of exchange had doubled during the period from January to April 2017.
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Egypt Doubles Subsidized Food Available on Ration Cards
Those holding ration cards would now be able to buy subsidized food items worth EGP 50 ($2.8) per person every month — up from EGP 21
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Egypt seeks FDI boost as its economy struggles
The government is hoping a $12bn International Monetary Fund lending programme signed last year will put it on the road to recovery.
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77.6% increase in Egypt’s non-oil exports to Spanish market during Q1
Imports drop by 22% and trade deficit between the 2 countries decreases by 66%.
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Egypt ranks 4th among African countries in FDI during 2016
Foreign direct investment is one of Egypt's primary sources of foreign currency, along with Suez Canal revenues and the tourism industry.
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Egypt signs $575 million agreement with GE for 100 locomotives
The first shipment of 25 locomotives would arrive in 2018 as part of a plan to have 25 million tonnes of goods transported via railway by 2022.
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Egypt central bank removes foreign currency transfer limit
The central bank statement did not comment on the status of the $50,000 deposit cap for some importers.
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£533m revenues of Vodafone Egypt in H2 of FY 2016/2017
The company's revenues declined in H2 by £263m compared to H1 of the same year.
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Egypt aims to halve monthly LNG imports this year
Egypt had a string of gas discoveries in recent years and has tried to speed up production at recent finds to be gas self-sufficient by end 2018.
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Steel rebar prices rise in Egypt after import tariffs imposed
The cost of Egyptian rebars has risen to 10,500-10,600 EGP per tonne from 9,000 pounds last month.
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LG Chem wins Egypt desal plant supply deal
Once completed, it will the country's largest desalination plant which can provide fresh water to about two million people a day.
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Egypt's parliament manpower committee approves 15% increase in pensions
The changes are effective 1 July and will see the minimum monthly pension increased from EGP 500 to EGP 630 per month.
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Egypt procures 3.4mn tonnes of local wheat
The Supply Ministry has said it is targeting between 3.5 million to 4 million tonnes of local wheat this year.
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Sisi to inaugurate German-Egyptian Business Forum in Berlin
The conference will discuss a G20 initiative which aims to promote private investment in general and investment in infrastructure in Africa.
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Egypt blocks more internet sites
They included 10 Egyptian news websites as well as several providers of virtual private networks (VPN) that can be used to get around censorship.
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Egypt imposes tariffs on Chinese, Turkish, and Ukrainian steel
The decision is intended to protect the local industry from imported alternatives.