News
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Black market flourishes as Egypt’s economy founders
The supply of subsidized goods is drying up, breaking down the longstanding subsidy system and pushing those who can afford it to the black market.
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Coral reefs in Egypt's Red Sea devastated by foreign vessel
Nationality of ship, which reportedly destroyed large swathes of coral reef in two of Egypt's premiere dive locations, remains undetermined.
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Egypt 'suffering worst economic crisis since 1930s'
Former finance minister and economist say Egypt is in dire predicament as foreign investment and tourism collapse.
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Morsi: Nation can reach self-sufficiency in wheat within four years
With an annual consumption of 18.8 million tons annually, Egypt imports around half of its wheat.
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Bassem Youssef's fight for free speech wins cheers at AMF
Youssef vigorously defended the role of satire in society – as well as the special attention he pays to President Mursi.
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Egypt's CIB see Q1 net profit up 30%
Commercial International Bank reports a consolidated net income of LE658 million due to widening interest margins.
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Senior Egypt finance ministry official quits
Sami Khallaf says new appointees marginalised him and points to friction with Brotherhood members.
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Egypt’s Orascom Telecom Q1 net loss $ 204 m in 2013
Revenues were $849 million for the quarter, a decline of about 1 percent year on year, it said in an earnings statement.
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Egyptian economy in shambles
The lack of security has devastated the Egyptian economy, which was already teetering.
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Shell sells downstream assets in Egypt to Total
Shell Marketing Egypt is being sold for an undisclosed fee with staff in the entity not involved in the lubricants activities.
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Egypt court releases Mubarak-era tourism minister pending retrial
Former tourism minister Zuhair Garana released pending retrial in corruption cases.
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Egypt's Orascom Telecom says it rejects Altimo's buyout offer
A statement by Orascom said that an independent financial adviser had put a fair value on Orascom's shares of $0.86 per share.
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Telecom Egypt profit drops as economy hurts calls abroad
Egypt’s economy is expected to expand 1.4 percent this year, the slowest increase since 1992, analysts at HSBC Holdings Plc estimate.
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As Egypt's Tourism industry languishes, antiquities under threat
Since the January 2011 Revolution, Egypt has been suffering social and political unrest, and its tourism industry has been hit hard.
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Barclays Egypt launches Africa Graduate Development Program
The bank has announced in statement that it allocated 1 million EGP for the program.
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Arab Media Forum to examine industry in ‘Bassem Youssef era’
A panel held on Wednesday will examine the role of satire in the media.
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Egypt wants Turkish businessmen to invest in Suez Canal
Kandil asked Turkish businessmen not to see Egypt as a single country with 85 million people but as the door to billions of people in Africa.
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Arrests of eight managers from online marketing companies
Alleged ‘pyramid scheme’ companies managed from Egypt, India, and Sudan.
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Telecom Egypt says Q1 revenue up 1.4 pct, beats forecasts
Telecom Egypt posted a net profit of 858 million Egyptian pounds and earnings before interest, taxes, depreciation and amortization of 947 million.
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Egyptian assembly approves higher taxes on the wealthy
Income inequality was one of the issues that sparked the uprising that ousted autocratic president Hosni Mubarak in 2011.