News
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Delayed French wheat cargo leaves for Egypt
The shipments were due to leave in December but were delayed after exporters failed to receive letters of credit.
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Egypt's new regulations for SMEs are positive for economy, negative for banks
The CBE said earlier it would require lenders to apportion 20 percent of their total loaning portfolio for SMEs, with interest rates below 5%.
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Anti-hepatitis Harvoni to be released on market soon
Harvoni will act as a “safe alternative” for Sovaldi
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Egypt eyes $15 billion finance package from China
Part of the package is expected to be invested in the infrastructure of Egypt's planned new administrative capital.
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Egypt to hold international tender for 11 oil and gas blocks
Egypt will also sign three new contracts for Mediterranean Sea development worth a total of $500 million.
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Egypt’s stock market hits 3-year low
The stock market lost 6 billion dollars last week.
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GERD proposal deadline extended to end of January
The TNC which includes Egypt, Sudan and Ethiopia, will contract U.K.-based law firm Corbett to sign the contract with consultancy companies.
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Egypt’s net invested capital rises to 11.4% in FY2014/2015
Regarding the financial investments value, the report stated that it rose to 534.2 billion EGP in FY2014/2015 recording an increase of 15.5 percent.
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Egypt to host Africa 2016 investment forum
The Africa 2016 Forum will help us better understand the African opportunity and will help ensure that policy makers make it easier to invest.
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Egypt to spend USD 32M upgrading tourist resort security
The plan would expand the use of security cameras, scanning and detection equipment and sniffer dogs.
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Edison looks to sell part of Egypt's Abu Qir field
Edison, which paid around $1.4 billion for the field in 2009, owns all exploration and production rights at Abu Qir.
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Egypt to receive $200mn grant from Saudi Arabia for SMEs
The grant will be disbursed to investors as loans through the Central Bank's recently implemented regulations.
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Egypt central bank sees import rules saving $20B in 2016
The governor said that the push to coordinate economic policy with the government was an indication to Egypt’s determination to enact reforms.
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Egypt unveils rare whale fossil museum to boost tourism
The sand-colored, dome-shaped museum is barely discernible in the breathtaking desert landscape that stretches all around.
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Tourism volume dropped by 38 percent in November
Tourism contributes 11.3 percent of Egypt’s GDP and brings in 14.4 percent of revenues originating abroad each year.
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Egypt's Amer Sees Import Rules Saving $20 Billion in 2016
Authorities tightened rules to finance the imports of goods deemed non-essential and asked importers to register their foreign suppliers with the gov.
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BE Decision to Support SMEs Should Turn Egypt Into Productive Economy
CBE decision will help reduce credit investments given to VIP clients from 20 to 15% It will also reduce investments in monetary fund from 5 to 2.5%.
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Emerson to Automate Massive Tahrir Petrochemicals Project in Egypt
Automation and reliability programs for world’s largest naphtha cracker plant will support efficient, high-availability production of plastics.
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Egypt- CPA to develop strategy to control auto market with manufacturers
Yaqoub requested from Minister of Industry to apply Egyptian standards 10 specifications on imported cars similar to those applied to local cars.
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Oil minister says Egypt 'suffering' from fuel subsidies
Egypt's petroleum minister said Monday the country is "suffering" due to fuel subsidies, saying these funds are better diverted to other areas.