News
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Zazou: Egypt's tourism revenue to drop by 39%
Tourism earnings are expected to drop by 39% year on year to EGP 6.5bn by the end of 2013, according to Minister of Tourism Hisham Zazou.
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Swiss maintains freeze on Egypt, Tunisia assets
The Swiss government has decided to keep 760 million Swiss francs ($858 million) in Egyptian and Tunisian assets frozen for three more years.
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MAF grows business in Egypt
MAF is looking at “two to three projects” of major malls in Egypt which will be built on existing land.
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New constitution will protect Saudi investments valued at $ 7.9bln, diplomat
The volume of Saudi-Egyptian investments in Egypt hit U.S. $ 7.9 billion.
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Opinion: Egypt’s wage control is bad for business
The economy in the Arab world’s largest country is parlous, with growth down to 2 per cent three years after the revolution.
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Egypt minister expects 2% growth in second quarter
The government targets 3.5 growth in the current fiscal year, which ends June 2014.
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For Egypt, a promising start to year ends in another setback
Egypt’s tourism numbers for the back half of 2013 “will be low, very low,” Elhamy ElZayat, chairman of the Egyptian Tourism Federation.
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Egypt's stimulus package to increase by LE30 billion
Money will be used to support the new minimum wage for public sector workers, as well as pay increases for teachers and doctors.
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CBE raises Foreign Currency transfer rate to US$200,000
Financial Expert Bassant Fahmy said the move is a step toward modifying the atmosphere in Egypt to receive new investments.
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Ministry of Finance denies mixing pensions and state budget
Ministry asserts it did not embezzle or waste EGP 400bn from the insurance fund.
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Zaazou: New plan to promote tourism investment in 2014
Zaazou explained that Egypt’s strategy to bring in investment would be changed from a ‘sit-and-wait approach’ to ‘go-out-and-get’.
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Egypt to repay part of debt to oil companies in Egyptian pounds
Repayment will occur "in phases", starting on December 1, a statement on the Finance Ministry website said.
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Egypt's interim govt, businessmen revive Upper Egypt development plans
A Cairo conference considers public-private partnerships to develop Upper Egypt, home to 80 percent of Egyptians living in extreme poverty.
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Egyptian Ambassador in Zimbabwe discusses cooperation in tourism
The agreement is expected to be signed during Mzembi’s visit to Egypt scheduled for Dec. 22 – 26.
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Egypt’s tourism lags due to poor marketing
Marketing campaigns abroad are generally unprofessional and do not improve the country’s ability to address tourists or study the target markets.
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Egypt to vote on amended constitution mid-January
It replaces the constitution drafted by an Islamist-led panel, approved in a referendum last year, and suspended after Morsi's ouster.
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Cabinet plans to attract tourists through live online broadcasts
Live cameras will be placed at sites to transfer the image directly to a global audience composed of tourists who wish to visit Egypt.
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Friday’s market helps control prices: planning minister
There is a full coordination between ministries and governorates to finish projects which have not yet been completed.
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Egypt's Citadel cuts net loss as regional unrest eases
The firm is narrowing its focus to energy, transport, agrifoods, mining and cement.
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EU grants Egypt $380mn for development projects
The EU grant – in cooperation with the German government – is part of the Participatory Development Programme in Urban Areas (PDP).