News
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Cemex invests more in Egypt with a new learning scheme
Expanding educational opportunities in Egypt is a major focus of Cemex.
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S&P raises Egypt sovereign credit rating to B- from CCC+
The upgrade reflects S&P’s view that the Egyptian authorities have secured sufficient foreign currency funding.
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World Bank re-affirms support for Egypt
The World Bank is currently implementing a labor-intensive project in Egypt, which aims to create 250,000 job opportunities.
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Telecom Egypt records 16% revenue increase
Its gross profit margin however stood at 39.5 percent as a result of lower interconnection cost compared to previous quarters.
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Lavrov hopes to restore tourism cooperation with Egypt
"The lift of the state of emergency regime which occurred yesterday can restore the scale of tourism cooperation," Lavrov said.
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TAQA Arabia, Egypt's Ministry of Petroleum sign natural gas deal
Citadel Capital’s energy platform signed a contract with the Egyptian Natural Gas Holding Company (EGAS) to connect 66,000 new customers.
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Telecom Egypt hopes to win mobile licence this year
The company reported a 16% increase in revenue and a 2.3% rise in net profit in the third quarter compared with the same period last year.
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Egypt farmers fear water supply threat from Ethiopia dam
Ethiopia is pressing ahead with construction of a $4.2 billion Grand Renaissance Dam.
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Egyptian govt sets maximum wage at 35 times minimum wage
The maximum wage will be implemented as of January 2014 and its ceiling has been settled at LE42,000 per month.
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Egypt to construct USD14bn airport city in Cairo
The project is still on the planning stage, but authorities expect to start the first phase in January 2014.
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Egyptian-Gulf Investment Forum to be held on Dec. 4-5
The Egyptian-Gulf Investment Forum is targeting many sectors and touristic, industrial, agricultural and commercial projects, the minister added.
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Realising Egypt’s gas potential
Egypt’s natural gas reserves have grown rapidly in recent years, establishing the segment as the most vibrant in the wider energy sector.
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IMF says still ready to aid Egypt when needed
Egypt and the IMF have had a sometimes tense relationship due to national pride and the international lender’s efforts to persuade Cairo politically.
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Egypt faces long-term risk as it props up economy with aid
A new government expected to be elected early next year could find itself deep in debt, its currency overvalued and its economy in crisis.
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Military spokesman: We have no control over Egypt's economy
Ali explained that military-owned companies are usually located in places in the greatest need of development.
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Egypt plans extra stimulus by year-end, Suez Canal project
The ministers were speaking at a Euromoney conference aimed at boosting confidence in an economy battered by close to three years of turmoil.
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Mansour reviews urgent plan to revive Egypt economy
The Beblawi government had decided to opt for an expansion economic policy that would most benefit the poorest segments in society.
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Egypt relies on Gulf aid for economy: Then what?
The biggest Arab country's finances are in a precarious state with a massive deficit, armed with billions of Gulf petrodollars.
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Egypt's Mobinil launches mobile payment service
In collaboration with BNP Paribas Egypt (Now Emirates NBD), Mobinil launches 'Mobi Cash' service under CBE oversight.
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Egypt finance minister: New government will change economic policy
Egypt would adopt countercyclical economic policies if it had enough available funds to support increased public expenditure.