News
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Egypt and Russia grain squabble
Russian wheat comprises a majority of the 5 million tonnes purchased by Egypt's main state wheat buyer GASC during this fiscal year.
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Stock market performance in 2015
15 new companies listed in the EGX in 2015.
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Egypt's BoP deficit hit $3.7 billion in Jul-Sept 2015
The trade deficit was unchanged from the same period of the previous year, standing at $10 billion during the first quarter of the 2015/16.
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Egypt cancels sunflower oil and soybean oil tenders
FIHC cited a lack of offers following new terms that allow the state buyer to defer opening a letter of credit, used for payments, by 180 days.
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Trade exchange between Sudan and Egypt rises to $1 billion
Economic cooperation set to increase in near future.
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Egypt, Ethiopia, Sudan sign new deal on Nile dam
Cairo and Addis Ababa had previously been locked in a bitter war of words over Ethiopia's $4bn project.
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Egypt's Sisi inaugurates 1.5 million feddan reclamation megaproject
In November, the cabinet approved the establishment of a company with a capital of LE15 billion (around $2 billion) to manage the megaproject.
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Another Fundraising Door Shutting for Egypt as Bond Yields Soar
Egypt is running out of ways to get a hold of dollars.
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Facebook's free 'basic internet services' have been shut down for 3 million Egyptians
Social media site Facebook says a program that had been giving free basic Internet services to over three million Egyptians has been shut down.
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Egypt Said to Offer Saudi Arabia Projects in Housing, Tourism
The move comes as part of planned investments by the kingdom to help Egypt’s dollar-starved economy.
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Egypt looks to Suez for ICT expansion
With the $8bn expansion of the Suez Canal now complete, Egypt is looking to stimulate activity in the surrounding area especially in ICT sector.
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Egypt to sign contract with Russia on NPP construction in January
The Russian-Egyptian intergovernmental agreement on the construction in Egypt of a nuclear power plant comprising four power units was signed in Cairo
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Egypt raises export duty on scrap fabrics by 40pct
The move aims to support local industry as exports of scrap fabrics more than tripled.
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Cabinet to consult with presidency to hold global economic conference next May
The issuance of dollar bonds is postponed indefinitely and other alternatives are under discussion, such as subtracting from revenues of Beit al-Watan
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Egypt’s unemployment rate hits 12.8 percent in 2015
Egypt’s annual inflation rate ranged from 10 to 11 percent throughout 2015 compared to 10.1 percent in 2014.
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Egypt's central bank injected $8.3 billion for imports and investors
Earlier this month the CBE said it changed the way it allocated dollars at its regular foreign exchange auctions, which it holds three times a week.
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Egypt Raises Rates as Central Bank Sets Targets With Government
CBE has agreed with the government to collaborate on designing policies that “will contribute positively to economic growth and job creation.”
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Egypt signs $500m agreement with African Export-Import Bank
The deal gives Egypt free trade access to seven new African nations.
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Egypt’s Sisi stresses “economic integration” ahead of GERD meeting
Egypt’s President Abdel Fatah al-Sisi met with Irrigation and Foreign Ministers ahead of the six-party meeting in Khartoum 27-28 Dec.
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Russian plane crash affected demand for accommodation in Hurghada, Sharm El-Sheikh
Colliers International:Flights were cancelled after tragic plane crash Sharm El-Sheikh relies on domestic demand in short term but tourism to increase