News
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Unified exchange rates to be set daily
Supply Minister agreed with exchange bureaus to set unified rate for dollar to avoid informal speculation and ensure stability for currency rates.
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Emirates offers Egypt travellers special economy fares
This value for money offer applies to select destinations when booked online between April 1 and 14 for travel from April 1 to July 5.
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Egypt's Tbond yields jump after rate hike
The average yield on the 1.5-year zero coupon treasury bond jumped to 14.631 percent from 12.719 percent at the last auction on March 7.
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Egypt wins Best Exhibitor Award at ITB 2016
The Egyptian Tourism Authority attended the world´s largest tourism fair ITB Berlin in its 50th edition from March 09-13 as Jubilee Cultural Sponsor.
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Offering United Bank for sale still pending
CBE, other parties still studying issue of sale, we have not received instructions so far, says El-Kady.
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Egypt's EFG Hermes to sell 40pct stake of Credit Libanais
EFG Hermes owns 63.7 percent of Credit Libanais, its only commercial banking service, shows the latter's website.
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Egypt's wheat reserves enough until beginning of July
Last month, GASC had to cancel an international wheat tender after being offered unsatisfactory prices by only four traders.
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Domty IPO oversubscribed by 10.718 times
The IPO was held on the Egyptian Exchange for approximately 12.250m shares. A total of 2,430 subscribers were registered for approx. 131.306m shares.
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Pound devaluation is Moody credit positive for Egypt
Egypt to remain stable at B3 as devaluation brings exchange rate closer to market rates, likely to boost exports and foreign investments.
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Egypt signs $108 mln loan with Kuwait Fund for power station
The power station in south Cairo is under development at a total cost of $1.7 billion to generate 1.950 megawatts.
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Egypt to regulate Uber, Careem ride-hailing services
Conventional taxi drivers are up in arms as more and more commuters opt for the two apps for rides in the Egyptian capital.
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Egypt's property developer SODIC doubles net profit in 2015
The company said revenue for the period rose to EGP 1.47 billion from EGP 1.37 billion in 2014.
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Egypt Bank Liquidity Seen Improving After Pound Devaluation
Egypt devalued its currency by about 13 percent at a local sale of greenbacks on Monday and said it would adopt a more flexible exchange rate.
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Egypt’s external debt hits $47.8 billion in 2015
Tuesday’s auction was the second consecutive day in which the CBE issued an exceptional tender to inject foreign currency liquidity into banks.
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Chinese auto maker Chery relaunches new cars assembled in Egypt
Chery will be assembled in Egypt in partnership with two leading Egyptian automobile corporations, Ghabbour Auto and Aboul Fotouh Automotive.
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Egypt's black market battle: CBE auctions another $1.5M
CBE will hold an exceptional dollar auction for $1.5bn on Wednesday to cover the outstanding debts importers owe to the banks in foreign currency.
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Apache With Shell Eye Egypt for Unconventional Gas in June
Apache and Shell will start drilling first unconventional gas well in a pilot project by the end of March.
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Egypt devalues pound, announces flexible exchange rate policy
Egypt devalued the pound to 8.85 per dollar from 7.73 and simultaneously pumped nearly $200 million into the dollar-starved banking system.
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US dollar declines to EGP 9 in informal market
Banks await fresh dollar liquidity to be injected through exceptional CBE auction.
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Egypt's public banks to issue Euro certificates for citizens abroad
Egypt's foreign currency reserves have declined by more than half since 2011, reaching $16.534 billion in February.