News
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CBE to bid over $933m in treasury bills
The government intends to raise EGP281.5 billion in treasury bills and bonds during the second quarter of fiscal year 2015/2016.
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Can Egypt’s new central bank chief calm currency crisis?
The central bank faced increased pressure to devalue as the black market burgeoned, offering a lifeline to businesses unable to access enough dollars
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Mauritania, Egypt to run farm near River Senegal
The farm will have a highly positive impact on both countries and their people.
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Egypt is capable of manufacturing automotives
Egypt seeks to develop an integrated incentive system to encourage global-producing companies to manufacture their products in Egypt, says Qabil.
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End gag on foreign businesses, Egypt’s CB told
The union sent to Al-Sisi a memorandum highlighting the problems facing industry, trade and investment resulting from monetary policies.
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Egypt’s Mahalla workers strike, demand social bonus
The workers set an ultimatum earlier this month, saying that they would refuse to accept their salaries if the 10 percent social bonus was not added.
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Egypt’s insurance market prospects are encouraging
Economic hurdles such as poverty and shortage of skilled workers will slow sector's growth.
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Breaking News: Tarek Amer replaces Hisham Ramez as CBE governor
Amer will take charge of the central bank after the end of Ramez’s term on Nov. 26.
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Russia to outfit Egypt’s Mistral ‘tin can’ warships
Russian Helicopters is prepared to supply $1 billion worth of equipment and aircraft for Egypt’s Mistral helicopter carriers.
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NBE manages loans worth EGP 40bn during 2015
NBE ranked first in Egypt and Africa and third in Middle East and North Africa in field of syndicated loans, according to Bloomberg Foundation.
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Noble bets on LNG with Egypt supplies amid commodity slump
Egypt became an importer of LNG this year in April receiving 4-5 cargoes a month through the Hoegh Gallant floating storage and regasification unit.
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Egypt’s July-August budget deficit at 2.4 percent of GDP
The Egyptian government is expecting a budget deficit of 8.9 percent (EGP 251 bn) for the entire fiscal year which will end next June.
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45% of ME companies encountered malware in 2015
Trojan attacks doubled in comparison to the same period in 2014. The attacks’ severity increased targeting the commerce and banking service sectors.
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Egypt to delay second international bond issuance
The second issuance was planned for November.
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Dollar price will not affect imports
Egypt’s dollar resources likely to increase, launching bonds in international markets under review not cancelled, says Dimian.
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Egypt needs private sector role in projects
The Egyptian minister said that Egypt spent $22bn in public private participation in infrastructure (PPI) from 1990 to 2014, in the MENA region.
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Foreign exchange pressures on Egypt likely to continue for years
The flexible policy recommended is bringing the currency exchange rate closer to the local currency's real value determined by strength of economy.
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High levels of liquidity support raising stock market
Transactions of Egyptians and Arabs tended towards buying, while foreigners’ transactions tended towards selling.
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Egypt vying to lure foreign capital weakens pound to record
The pound fell to 8.0301 per dollar in the official interbank market after declining by similar amount at a central bank currency sale to local lend.
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World's most expensive IKEA Billy bookcase sold in Egypt
The same bookcase sold in Egypt is available at less than half the price in Slovakia, with the world average significantly lower also.