News
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Uganda to construct a 600 MW dam on the Nile River
The Chinese government offered to finance the Ugandan Dam project on the Nile.
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Iraq to supply Egypt, Sudan with petroleum on credit
Baghdad agrees to provide both Egypt and Sudan with crude oil to be purchased on credit, Egyptian state media reports on Monday.
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Egypt tourism minister looks to boost tourism
Egypt’s minister for tourism HE Hisham Zaazou recently highlighted the futuristic Semiramis Pavilion meeting centre.
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Palm Hills plans $85.8 mln rights issue
Palm Hills is seeking to offer 600 million pounds worth of shares to existing shareholders at their nominal value of 2 pounds per share.
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Egyptian currency expected to depreciate
The Egyptian pound on Saturday slid to record low against Western currencies in ten years.
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New governor of Luxor shock to some inside Egypt
The new governor is affiliated with the Gamaa al-Islamiyya, a group that renounced violence in 2003 and joined the political process post-revolution.
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Cairo’s gas stations turn into paid car parks amid fuel crisis
Some of Cairo’s gas stations have been temporarily turned into paid car parks, in an attempt to drum up business amid a squeeze on fuel supplies.
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Egypt foaming over beer sales
Public consumption of alcohol soaring, party scene expanding despite economic and political situation in Middle Eastern country.
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Egypt nears $4.8b IMF deal
The IMF is verifying numbers with the government regarding the programme and they are in late stages of verifying all the numbers.
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Egypt's Mursi severs relations with Syria
Mursi told thousands of Islamist supporters in a Cairo stadium for a "Support for Syria" rally that he would cut diplomatic ties with Syria.
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EgyptAir lost estimated $185 million in last year: Ministry
EgyptAir’s losses for the year ending this month were mainly due to an increase in fuel prices, the devaluation of the Egyptian pound and strikes.
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Only politics can save Egypt's economy
There are several reasons for Egypt’s economic woes and conundrums, as well as the inability to sign the agreement with the IMF.
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Egypt's wheat harvest becomes mired in politics
Experts and famers are raising doubts that the wheat harvest will meet government predictions this year.
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Egypt to auction luxury gifts received by officials
Following direction that government officials cannot accept gifts valued above USD100, FinMin organizes first ever public auction of gifts.
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Egypt targets 13 million tourists in 2013
Minister of tourism expresses optimism in tourism sector, barring 30 June violence.
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Egyptian pilots stage protest, disrupt flights
Egypt Air official Ahmed Shahin says Thursday's protest was designed to press demands for changes in the company's top management.
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Egypt Tourism Minister calls for peacefulness of June 30 protests
"If the June 30 protests are peaceful, that will convey a positive picture of Egypt to the world and boost the tourism movement," Zazou said.
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Egypt's FX woes morph into MSCI headache
In its 2013 annual market classification review, MSCI noted a lack of foreign currency in Egypt.
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Investors in Egypt having currency problems: MSCI
MCSI might be forced to launch a public consultation with the investment community on Egypt's potential exclusion from its Emerging Markets Index.
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Egypt Central Bank suspends deposit operations, brings back repos
Repos add liquidity to the banking system while deposit auctions drain it.