News
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Instability, lack of legal certainty the main problems for British investors: Franck
Egypt’s exports to the UK went up by 21% in 2013, says former UK Trade and Investment Director.
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CBE governor says forex policies successful, could eliminate black market
The central bank has been letting the Egyptian pound weaken in the official market, probably judging the economy has stabilised enough.
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Egypt trade deficit falls for seventh straight month
Report by state statistics body shows the decline in the trade deficit was driven by a drastic fall in imports.
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King Abdullah's roadmap for Egypt: economy, justice and dialogue
Economy is the first item in the king's roadmap for Egypt, as the kingdom will do what it can and has called for a donors’ conference for Egypt.
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Egypt's IDWBE settles 30% of its bad loans
The Industrial Development & Workers Bank of Egypt completed the settlement for debts worth EGP 600 million.
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Sisi sworn in as Egypt's president
Before a panel of judges at the Supreme Constitutional Court, Sisi swore to protect Egypt's republican system, unity law & interests of its people.
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Egypt, UAE choose army-linked company to build wheat silos
The UAE is taking a hands-on role in supporting Egypt and is funding a range of development projects including the wheat silo-building effort.
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IMF ready to help Egypt, Lagarde tells president-elect
IMF Managing Director Christine Lagarde spoke to Egyptian President-elect Sisi by phone yesterday to congratulate him on his election.
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Egypt implements temporary tax increase for wealthy
The tax will apply on individuals earning more than one million Egyptian pounds for three years, Egyptian state media reported.
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Egypt turns to Western economic advisers, signalling possible reforms under Sisi
This could be used as a basis for reopening talks on a loan deal with the International Monetary Fund.
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Three banks to arrange Assiut Oil Refining Co's USD161m loan
Three leading banks in Egypt will be arranging a syndicated loan worth $161 million for Assiut Oil Refining Company (ASORC).
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Egypt self-sufficient in production of eggs
The ministry is working on a plan to increase local production of veterinary vaccines so as to stop imports.
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Cairo traffic costs Egypt LE47 bn a year: World Bank
Poor traffic management and prevalence of private cars are to blame for Cairo's traffic, according to a new report.
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King Abdullah calls El-Sissi to pledge economic support
El-Sissi thanked King Abdullah for assisting Egypt and congratulating him on winning the elections.
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Egypt urges more job opportunities in Arab labor market
Egyptian Manpower Minister Nahed Ashri called for increasing job opportunities for the Egyptian labor in Arab markets.
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Egypt Air miffed with Air Arabia's Cairo flights
Egypt Air, the government-owned national carrier, is not happy that Sharjah-based low-cost carrier Air Arabia is flying into Cairo Airport.
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Arab Investors Union: Foreign aid cannot build an economy
Ambassador Gamal al-Bayoumy, head of the Union of Arab Investors, said using Arab aid in bridging the budget deficit is not good enough.
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Egypt's foreign reserves see first drop in year to May
Chief economist Hesham Geneina expects significant climb by September due to anticipated grants from Gulf states.
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Egypt studying international bond issue
An official said that the bond issue would mainly be aimed at Gulf Arab investors.
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Egypt sees lower consumption of octane 95 in 2013/14
First nine months of the 2013/14 fiscal year see a drop in octane 95 petrol consumption.