News
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Confidence rebound for Egypt as Dubai bank plans IPO
Even Egypt’s government is turning to the country’s bourse to fund infrastructure projects and public-sector companies.
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Egypt funding crunch slowing food payments again
CBE is forced to take drastic measures to direct its available funds to the strategic commodities, food-related items and medicine.
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Holding their nerve on the Nile
Compared with other emerging markets such as India and China, Egypt looks forbidding, yet foreign firms, though wary, have not abandoned Egypt.
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Almarai to establish new dairy enterprise in Egypt
Saudi Almarai Company for Milk and Juices will establish a dairy plant in Egypt, the Ministry of Investment announced Thursday.
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Emirates NDB Egypt to loan LE711 mil to develop Cairo Airport
Managing Director Giel-Jan Van der Tol said the loan will help boost tourism, which accounts for an important part of the Egyptian national economy.
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Egypt's GB Auto posts 5.8 pct rise in Q1 net profit
Egyptian auto distributor GB Auto made a 5.8% rise in net profit in the first quarter, the firm said in a stock exchange statement on Thursday.
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Egypt's Arabian Cement Co. aims to raise $120m in IPO
Company plans to sell 85.2 million shares at max price of LE9.85 to start trading by 21 May.
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Egypt's cabinet approves 'exceptional' tax hike on the rich
The 5 percent tax rate increase is to be applied temporarily and for a period of three years on individuals whose annual income exceeds LE1 million.
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Support Egypt Fund 306306 collects EGP1bn
The support fund was launched following the ousting of former president Mohamed Morsi on 3 July to accept donations to support Egypt.
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Pound drops to record as Egypt seeks to narrow Black-Market Gap
The pound depreciated 0.2 percent to 7.0301 per dollar in the interbank market after it weakened by the same amount at a currency auction.
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Egypt's Sisi promises real economic improvement
Sisi said his presidential agenda aimed to increase Egypt's usable land by desert reclamation, building road networks and infrastructure.
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Egypt's Suez Canal March revenues rise 8.5 pct year-on-year
February revenues stood at approximately LE2.4 billion ($339.3) million, the lowest in four years.
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Egypt forex reserves rise to $17.489 bln in April- c.bank
Egypt's foreign reserves rose to $17.489 billion in April from $17.414 billion in March, the central bank said on Wednesday.
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Egypt’s economy seen just meeting 2013/14 growth target
The country's economy is predicted to grow 2.1 per cent this fiscal year, finds Reuters poll.
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Seesi says Egypt business must share cost of economy push
Sisi also said it will take time to remove the subsidies on staple goods that have swollen the country’s budget deficit.
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Suez Cement Company invests EGP 300m to convert plants to use coal power
The company is still waiting for final approval from the Ministry of Environment following a controversial cabinet decision to import coal.
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Egypt’s economic court imposes fine on Mobinil for misleading ad
Mobile phone provider hit with hefty fine over an ad it published in a newspaper claiming that it was the country's best in terms of quality.
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Egypt announces plans to revive flagging tourism sector
Government data showed last month that tourism revenue dropped 43 percent to 1.3 billion US dollars in the first quarter of this year.
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Gulf Arabs’ free fuel for Egypt reaches $6B in value
The aid helps reduce the heavy costs of government fuel subsidies and the drain on the foreign exchange reserves.
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Gulf Arabs’ free fuel for Egypt reaches $6B in value
The aid helps reduce the heavy costs of government fuel subsidies and the drain on the foreign exchange reserves.