News
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Egypt's purchases of local wheat reach 4.711 mln tonnes
In 2015, the government said it had procured a record 5.3 million tonnes of wheat from local farmers, up from 3.7 million the previous year.
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Car prices continue to climb in June
The automotive market has witnessed dramatic prices increase in recent months, driven by the shortage of hard currency required for importing.
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Egypt’s real estate sector remains buoyant
Egypt’s residential real estate market has recorded impressive results thanks to persistently high demand.
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Egypt's local wheat buying at 4.464 million tonnes
The figure surpasses a target of 4 million tonnes that was set by the government at the beginning of the season.
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Saudi-Egypt causeway to enable 30 minute cross border travel
Plans for the crossing were revived during King Salman's visit to Egypt in April.
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Fitch affirms Egypt rating at 'B' with stable outlook
Fitch expects general government debt to grow to 90.5 percent of GDP in FY17, on the assumption that the pound will continue to weaken.
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Non-petroleum exports hit $6.5bn
Non-petroleum exports to European Union countries reached around $1.7 billion by the end of April 2016, more than the $1.5 billion than last year.
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Egypt's Stock Exchange to cut trading hours during Ramadan
The main market's trading will be preceded by a discovery session starting 9:30am.
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Egypt targets $60 bln in investment in FY 2016/17
Egypt saw investment worth EGP172 billion ($19.36 billion) in the first half of the current fiscal year, representing 12.9 percent of GDP.
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China builds textile city in Minya
Over 128 hectares, signed framework accord in key sector that contributes to 3% of GDP, employing 1.2 million people in Egypt.
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Egypt approves Saudi Arabia cooperation agreement on nuclear power
The agreement aims to establish cooperation in peaceful uses of nuclear power and on nuclear security, according to the release.
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EFSA finalises amendments to commodity exchange draft law
The regulations will be discussed with the community in the coming days, says EFSA chairperson.
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Maserati returns to the Egyptian market
Mazerati’s return to Egypt is a commitment to its customers to meet their demand of exclusive luxury products, including in the automotive sector.
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Egypt meets local wheat buying target of 4 million tonnes
Egypt is the world’s largest importer of wheat, bringing in an estimated 11 million tonnes during the 2015/16 marketing year.
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Egypt to slash total subsidy bill in 2016/17
The government plans to trim the petroleum subsidy bill by 43.5 percent and the electricity subsidy bill by 6.4 percent.
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Vodafone to provide free Wi-Fi at Cairo University
The agreement was signed by the university’s dean Gaber Nassar and strategy director of Vodafone Emad El-Azhary.
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Egypt to link to south of Africa by rail
The Government plans to build new railway line to link Egypt to some countries in southern Africa.
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Egypt eyes 5.2 pct growth in FY16/17
Tourism receipts, a major source of foreign currency income, were down 66 percent in the first quarter of 2016.
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NBE studying expansion into Saudi market
Bank collected $500m from foreign currency saving schemes.
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Egypt's Sisi inaugurates MOPCO fertiliser plant expansion
German conglomerate Siemens is currently constructing three power stations in Egypt that aim to add 14.4 gigawatts of electricity to the national grid