News
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Egypt's CIB says Actis sells remaining 6.5 pct stake
Actis invested in CIB in 2009, making it the bank's largest single shareholder.
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Egypt to increase gas production by year end: oil minister
Egypt also intends to start importing liquefied natural gas by September to help alleviate its energy shortage.
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Egypt Air launches first direct flight to Hurghada from Jeddah
The brand new destination, Hurghada, will operate twice a week service from King Abdulaziz Airport.
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Egyptian engineering industries develop plan to increase exports to 31 countries
The move comes as part of a plan to double the Egypt's exports to reach $5bn within five years.
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Sisi: Army’s economy not parallel to national one
Sisi stated that "rumors" of army’s economy representing 20-30 percent and even 60 percent of the national economy is untrue.
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Egypt pound weaker at central bank dollar sale, stable on black market
Forex traders and economists have described the central bank's decision to allow the pound to gradually weaken as a managed depreciation.
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Egypt’s EFG-Hermes says in talks on alliance with Sarwa Capital
EFG-Hermes Holding S.A.E, the biggest publicly traded Arab investment bank, said it is in talks to form a strategic alliance with Sarwa Capital.
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Philippines and Egypt to sign MoU on tourism cooperation
They are also expected to sign an MoU on the visa waiver agreement for holders of diplomatic passports of the two countries.
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17 new wells to join Egypt's natural gas grid: ministry
In a bid to up production of natural gas to meet shortfalls in supply, some 17 new wells will be opened, with drilling starting September.
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L’azurde to establish third factory in Egypt: Business Association
The company plans to open its new plant in the free trade zone, which will help it expand exports.
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Egypt's Pioneers Holding to acquire Rooya stake within 3 months -CEO
Pioneers had previously said the deal would be financed in cash and through a capital increase.
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Egypt economic growth to exceed 1.5% in Q3: Minister
Planning minister says economic stimulus packages should push growth rate to 1.5% in Q3 of current fiscal year.
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FinMin provides additional EGP 922m for public business sector
Government delayed with presenting next year’s budget, hesitation about pursuing subsidy reform.
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Tourism languishes amid fears of unrest, instability
The tourist industry, which makes up 11% of Egypt’s gross domestic product, has been struggling to get back.
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Egypt could tap global bond market after political transition: minister
"We don't exclude any tool that will help us finance ourselves," Dimian told an investment forum in London.
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Profits of Egypt's biggest gold miner shrink in Q1 of 2014
Drop in production lessens Q1 profits, but company says output of Sukari mine will increase until the year's end thanks to expansion.
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Thomas Cook hit by Egypt turmoil
Holiday firm Thomas Cook has been hit by a quarter of a million fewer holidaymakers travelling to the popular winter sun destination of Egypt.
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Egypt's debt to foreign oil firms up at $5.9 billion-paper
Money owed to foreign oil majors including BP and BG Group totalled $4.9 billion in December.
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Egypt unemployment unchanged at 13.4% in Q1
Almost 70 percent of unemployed people are aged between 15 and 29, and more than 79 percent hold diplomas or university degrees.
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Rebuilding Egypt: how do startups help the economy?
While entrepreneurship is not an immediate cure-all, it will be a key catalyst in Egypt’s economic growth over time.