News
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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.
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Credit Agricole not considering leaving Egyptian market
We have launched our activities in the Egyptian market 10 years ago and seek to continue and expand it, says Drion.
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Egypt's 4G wireless frequencies ready for use
"we are waiting for companies to finish preparations to receive the frequencies," Communications Minister Yasser al-Kadi said.
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Egypt pays $20 million in arrears to UAE's Dana Gas
Egypt paid the $20 million in local currency, and $50 million in US currency delivered last week which is 25% paid back from $283 million owed.
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Oman in bid to boost exports to Egypt
A delegation of 19 high-profile Omani exporters is participating on a two-day Ithraa-led trade delegation to Egypt.
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U.S. wheat wins first Egypt government tender in two years
The world’s biggest buyer requested grain with a higher protein content, knocking France out of the mix.
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Egypt signs deal with Visa to develop infrastructure for financial transactions
Prime Minister Sherif Ismail attended the signing of the agreement at the cabinet headquarters in Cairo.
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Egypt to issue $1.5-$2 bln Eurobond within one week
Egypt sold $4 billion of Eurobonds in three tranches in January, raising twice as much as targeted and at lower yields than expected.
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Egypt central bank to cancel $100,000 individual bank transfer limit
"We have no need for foreign currency limits" Egypt's central bank governor Tarek Amer said.
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Egypt official expects stock market stamp duty next month
The parliament's budget committee approved a draft law to impose stamp duty on stock exchange transactions, to be paid by buyers and sellers.
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Syrian Refugees Contributed over $US 800 Million to Egypt’s Economy Since 2011
UNDP report states the number might be higher however not all businesses of Syrian Refugees are registered.