News
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EBRD allocates $500 million to finance Egypt's solar energy programme
The solar energy programme aims at constructing utility-scale solar projects within the private sector with a generating capacity of 2,000 megawatts.
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Egypt-Romania trade exchange to hit $1bln
Egypt is Romania's oldest trade partner in the Middle East and North Africa.
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Egypt’s credit risk increased with ailing economy Moody’s Analytics
One-year External Default Frequency for Egyptian government debt increased from 0.09% in early October to 0.18%.
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Egypt Signals Currency Policy Shift With Payment of Foreign Dues
The move by Amer in the first week of his tenure also signals he’s readying for a more liberal currency policy.
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Russia to loan Egypt $25bn for nuclear plant construction
The loan comes as part of the agreement reached by the two countries.It will cover 85 percent of the costs and Egypt will have to provide 15%.
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Egypt needs LE100 bln to meet water sanitation needs
The ministry has presented a programme to extend water sanitation services to 50 percent of villages within the coming 2.5 to 3 years.
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Egypt’s stock market loses US$5.1 billion in November
Egypt market capitalization lost LE87.02 billion during the first 11 months of 2015.
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Two-tiered real estate demand in Egypt
With economic growth steadily picking up, real estate developers in Egypt are looking to opportunities at opposite ends of the real estate spectrum.
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Egypt M2 money supply up 19.6 pct in October
The money supply stood at 1.87 trillion Egyptian pounds.
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Egypt aims for 5.5 percent economic growth
According to the ministry, the budget will be presented to parliament for approval.
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Egypt inaugurates MENA’s largest wind power station along Red Sea
Egypt’s government aims to generate an annual 800 million kilowatts/hour out of the new wind power plant.
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Asus to enter Egyptian smart-phone market
40,000 devices to be imported by end of 2015 from one of the three largest smart phone manufacturers in the world.
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Egypt may replace Turkish goods on Russian market
Cairo asked Moscow to provide it with a list of goods recently prohibited or restricted for import to Russia from Turkey to replace them.
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Garments export crisis exacerbated as EgyptAir suspends shipping on passenger flights
Based on recommendations by U.S transportation safety experts, EgyptAir suspends shipping of commercial cargo on its passenger flights.
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Sawiris conglomerate from small Upper Egypt business to world’s billionaires lists
Members of the family operate in construction, hotels, telecom, and media sectors, with a stake in political scene.
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Afreximbank proposes $1bn facility for Egypt’s foreign currency liquidity
Afreximbank would also avail its investment guarantee and country risk guarantee programmes to the Egyptian government.
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Egypt's water and sewage systems need around LE 1 bln pounds for upgrade
Housing minister estimates water and sanitation sectors need one billion Egyptian Pounds to fix.
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Egypt's economy hopeful despite hardships, foreign loans
The loans reflect confidence of international and regional financial institutions in Egypt's future ability to pay back.
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Egypt's central bank saviour faces tricky balancing act
Egypt's business community will breathe easier when Tarek Amer takes charge at CBE on Friday with hopes high he will revamp a monetary policy.
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Presidential decree reforms council for monetary policies
According to the Central Bank Law, the Council sets the objectives of monetary policy to achieve price stability and soundness of the banking system.