News
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Khalifa Fund, AFD offer funding to Egypt projects
63,000 projects will benefit from the fund’s finance programs, which will provide around 79,000 jobs, the minister added.
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Egypt's economic growth in 2015 will be pro-poor: Planning minister
El-Araby explains why 2015 will be a good year on the socio-economic front; reveals that the oil subsidy reduction plan is on hold.
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Abraaj pulls out of bidding for Egypt’s Bisco Misr
Abraaj did not give a reason for its withdrawal from the bidding process, but said the orderly and transparent process had underlined growing investor interest in Egypt.
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Egypt's growth rate hits 2.1 pct in FY '13-14 - CBE
Sectors of trade, and industry and real estate activities as well as social services have seen a recovery.
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Egypt to reduce foreign diplomatic spending
El-Sisi seeks to reduce diplomatic spending amid significant financial challenges.
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Orascom Development Holding offers 10-15% in stock market
The company stated that its management is “optimistic with the company’s performance”, adding that it expects a stronger performance after parliamentary elections.
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Egypt current account hits deficit of $1.4 bln in July-Sept quarter
The deficit was driven by a wider trade gap and a contraction in net transfers, according to a statement posted on the central bank's website.
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French investments in Egypt hit $6.7bn
Speaking during a meeting with the French Ambassador in Cairo, Ms. El-Ahwani pointed out that trade between the two countries had hit $3.1 billion in 2013.
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Egypt electricity sector owes LE80 billion in fuel payment arrears
Power generation still largely reliant on petrol fuels in a country which still heavily subsidises them.
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Population growth rate in Egypt 4 times that of developed countries
Between government’s role and people’s social beliefs, the rates continue to rapidly increase.
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Can Shale survive in Egypt?
Alongside Apache and Shell Egypt, Cairo will pursue the country’s first shale extraction project.
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Egypt and Algeria to sign gas import agreement
Egypt will import 6 cargoes of LNG from Algeria between April and September.
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France loans Egypt €7.15m to develop Taba International Airport
Loan scheduled to be repaid in 20 years, with six year grace period and 0.17% interest.
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10 firms to be listed in new year
In 2014, the EGX management listed 13 new firms in the main market and NILEX with a total capital worth 1.9 billion EGP.
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Index funds delayed to January, secondary market for bonds awaits consensus: EGX Chairman
Index funds allow for stock indexes to be exchanged as documents through funds run by professional fund management companies.
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New bid to acquire Arab Dairy offered, EFSA announces
Al-Nour made its offer to acquire 100% of Arab Dairy shares, with a minimum of 51% of its stakes, with the value of EGP 58 per share.
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Egyptian shipments of wheat avert Russia's February new export duty
Russia is the third largest supplier of wheat to Egypt, itself the largest importer of wheat in the world.
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Citibank Egypt still studying banks’ offers to buy its consumer business
In October 2014, Citigroup announced it intends to exit its consumer business in Egypt, along with its businesses in 10 other countries.
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Egypt-China business council to launch investments in Egypt worth $250mn
The EJB and ECBC agreed to set up a number renewable energy projects as well as a phosphates chemical plant at a total cost of $150 million.
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Logistical center to protect Egypt from wheat market fluctuations
The Minister followed-up the supply of agreed-upon shipments of Russian wheat, which will arrive as of next January.