News
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Factors to watch in Egypt’s stock market in week ahead
Egypt’s stock market starts trading on 11 June, with some companies holding their ordinary general meeting to discuss their financials for 2017 Q1.
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Renewables least cost option in India, Denmark, Egypt
The renewable cost is well below equivalent costs for fossil fuel and nuclear generating capacity in each of these countries.
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Qatari investments in Egypt are safe: Minister Sahar Nasr
The minister's statement comes after Egypt and several other Arab countries cut diplomatic relations with Qatar Monday.
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Egypt's non-oil business suffers, but exports rise
New exports orders rose at the fastest rate on record in May, suggesting that the sharp devaluation of the pound in November has a positive impact.
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Qatar Airways suspends flights to UAE, Egypt, Bahrain
Qatar Airways said its offices will continue to operate as normal in affected countries until further notice.
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Electrolux seeks expansion in the Egyptian market
A senior company delegate starts a visit to Cairo to discuss cooperation.
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Egypt keeps customs exchange rate at 16.5 pounds/dlr in June
The exchange rate in Egyptian banks is around 18.12 pounds per dollar.
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Russia expects deal on industrial zone in Egypt to be signed by fall
The visit of the Egypt’s minister to Russia is planned within the coming month. The parties will then be able to finalize the document.
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Indian Petrochemical company to increase investment in Egypt
The petrochemicals giant TCI Sanmar's current investments in Egypt are estimated at USD 1.2 billion in Caustic soda.
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Egypt cabinet approves raising minimum income tax threshold to LE 7,200
The amount is up from EGP 6,500 but the decision has yet to be approved by parliament.
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Egypt’s Cabinet approves $2.48 billion social aid program
The government plans to spend EGP45bn on income tax discounts, bonuses for public employees, increased pension payments and cash subsidies.
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Egypt says historic foreign investment inflows seen since rate hike
Tarek Amer defended his decision to increase interest rate saying it attracted foreign investments of nearly US$1 billion.
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Egypt's economy trapped in vicious cycle of IMF debts
Egypt expecting a new rise of prices due to the IMF loan requirements, while the country has not yet recovered from previous economic decisions.
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Green light for Cyprus-Egypt business association
The Egyptian delegation to the association will be headed by Saeed Ahmed, the chairman of Nile Linen Group, a leading home textile manufacturer.
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Egypt's tourist visitors up 49 pct year-on-year in March
Some 654,900 tourists visited Egypt in March 2017, representing a 49 percent increase on the same month the previous year.
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Banks offering e-services have best retail banking
CIB) topped the Business News index for best retail bank for the 2nd year in a row followed by NBE that has the most widespread ATMs.
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Egypt stocks drop most in world after surprise rate hike
CBE unexpectedly raised interest rates to contain surging prices, a month after IMF remarks favoring higher borrowing cost to tame inflation.
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Refiner plays down Egypt risks
China Petroleum & Chemical Corp, has played down concerns about potential risks to the value of its investment in the Apache project in Egypt.
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Raising interest rates shakes markets, disturbs business community
Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn.
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Egypt’s Central Bank raises interest rate by 2 pct
The statement added that the credit rate was also raised by 200 points to 17.25.