News
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5.9B EGP donated by businessmen at Sisi banquet
Among the businessmen who attended the banquet were Naguib Sawiras, Mamdouh Abbas, head of GB Auto Raouf Ghabbour etc.
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US offers Egypt late invite to Africa summit in Washington
A US official said the late invitation had been offered as Egypt had recently been allowed back into the African Union after a year's absence.
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The UAE can offer Egypt guidance on tricky issue of subsidy reform
The new budget cuts energy subsidies from 134 billion Egyptian pounds (Dh68.63bn) in 2013-14 to 100bn pounds this fiscal year.
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Investment minister promotes Egyptian economy to Asian diplomats
Korean delegation to visit Cairo in August will consider investment increases and invite Egypt to attend investment conference in Japan.
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SANAD issues $10 million loan to ALEXBANK in Egypt
The SANAD Fund for MSME said they had "found an ideal partner [in ALEXBANK] to anchor SANAD in Egypt".
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Italian ambassador discusses economic cooperation with Egypt
Italy is interested in establishing investment projects in Egypt and increasing cooperation between the two countries.
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World Bank approves $300 million interest free loan to Egypt
Loan gets green light to finance micro and small enterprises in Egypt, especially in Upper Egypt.
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Administrative reform, social safety net to help economy reach 3.2% growth: minister
El-Araby says the government will announce an administrative reform road map to improve the efficiency of government’s institutions.
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National Bank of Egypt eyes dollar-denominated bond sale in 2014
There has not been a final decision yet regarding the value of the offering, but it will range between USD 600 million and USD 1 billion.
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Sudan, Egypt agree on biannual Investment Forum
Ministers decided on cooperating in joint investments, particularly agriculture, industry, construction, and animal wealth sectors.
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Abraaj Investment Management makes bid approach to Bisco Misr
Abraaj Investment Management has the intention of acquiring all of Bisco Misr's shares, with a minimum of a 51 percent stake.
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Egypt tries crude swaps to import crucial foreign oil
Egypt has been largely unable to buy crude oil in the international market for more than a year due to a domestic subsidy scheme.
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New development programs by EU to support Egypt's economy
Moran stated that Egypt has chosen the right course of economic reform which will lead to creation of new jobs.
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Egypt's Badr investors to launch Holding Firm with EGP200mn capital
Badr Investors Association is scheduled to launch the firm in cooperation with the Housing Ministry to complete suspended infrastructure projects.
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Egypt aims to boost wheat self-sufficiency
Wheat represented the largest single subsidy expenditure after fuel price support, which was unexpectedly cut at the start of July.
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Egypt's public sector grocery stores see first profits in decades
Al-Ahram, Nile and Alexandria witnessed net profits worth LE1.8 million in June.
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Mahlab probes amicable settlement of disputes with investors
Egypt desires to encourage investment and create a healthy business climate and is ready to settle all disputes.
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Egypt issues tender to swap Qarun crude oil for Iraqi Basra Light
The tender specifies that the delivery will take place through storage-tank transfer at its oil hub Sidi Kerir on August 16.
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35% increase in the number of Emirati tourists
There was an increase of 35% in tourists from the UAE, 6.3% in tourists from the Kingdom of Saudi Arabia and 10.8% in tourists from Kuwait.
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No fix for Egypt's LNG needs as search for terminal widens
EGAS and EGPC promised to have a terminal up and running last summer until a chaotic tendering process and political upheaval pushed back the job.