News
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German business delegation to visit in September
The ministerial statement said that Shoukry praised the existing bilateral cooperation mechanisms and looked forward to activating them.
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Egypt’s economic losses reach 70% as Nile tourism halted
A large number of workers in the Egypt's Nile tourism sector have lost their jobs because of the halt in cruises in Luxor and Aswan.
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Egypt to borrow $1.4 bn to pay foreign oil debts
Loan will repay around 25 percent of $6 billion debt to foreign oil companies working in Egypt, amid drive to increase foreign investment.
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Government considers new legislation to counter customs smuggling
Legislation to regulate customs transactions and control all ports to eliminate smuggling and prevent entry for non-compliant goods.
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Egypt's El-Sewedy Electric posts 13 pct rise in Q2 net profit
Net profit for the quarter ended June 30 was 103.62 million Egyptian pounds ($14.49 million), compared to 91.67 million in the same quarter of 2013.
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EGAS halts pumping of gas to Idku plant
By contract, the Idku liquefaction plant should be pumped 1.13bn cubic feet of gas per day, but the rates have been decreasing gradually.
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Egypt's Palm Hills Q2 net profit down 8.3 pct
Real estate developer posts net profit of LE84.7 million for 3 months ended on 30 June, compared to LE92.4 million in previous year.
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Inefficient subsidies harming Egyptian economy
In 2009, the richest quintile benefited from 60% of the country’s fuel subsidies.
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Egypt revises up July annual inflation to 11.04 per cent
Egypt's annual core consumer price inflation rate was also adjusted higher to 9.57 percent from 9.35 percent.
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Egypt central bank keeps key interest rates unchanged
The bank did not give a reason for its decision but said a full statement would be issued shortly.
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Kellogg Co makes bid approach to Egypt's Bisco Misr-statement
Kellogg asked to conduct technical and financial studies of Bisco Misr, with an eye to acquiring at least 51 percent of its shares.
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MisrLife Insurance Company eyes 40% market share: Chairman
The company has adopted new techniques to achieve these goals by signing bank insurance contracts and increasing investments.
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Nationwide protests in Egypt against price hikes
Egyptians in 32 cities staged protests against the rising prices of basic commodities, Anadolu reported.
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Egypt to issue certificates to finance Suez Canal today
Officials have said the new canal would boost annual revenues to US$13.5 billion (S$16.8 billion) by 2023 from US $5 billion currently.
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UAE to provide Egypt with $8.7 bln petroleum products
"We will complete all the details this week and the first shipment will be sent next week," the official said, referring to the UAE agreement.
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Egypt's domestic debt increases by 17.9 per cent
The total debt from government expenditures increased by 17.5 per cent to reach 1.602 trillion pounds.
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BG Egypt enhances gas infrastructure to bring new wells on
The new well control system can now manage the production from additional wells simultaneously.
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Egypt's schools to open on time, unlike universities
Egypt's education minister says schools will open their doors on time, unlike universities that will delay the semester to October.
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How big is the Israel-Egypt Gas deal for Noble Energy?
Egypt and Israel are believed to be on the verge of a massive $60 billion natural gas deal.
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Egypt seeking to increase horticultural exports to South Korea
Egyptian exports accounted for approximately a billion US dollars, compared to the 802 million dollars of 2012.