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Financials and Investment News in Egypt

EGP 70mln Investments to Support Sinai Electricity
10/6/2012 - The electricity sector completed preparations for a plan to increase generated electricity for Sinai by 1,675 MW to support the national power grid there. The projects include supplying the Oyoun Musa...
No Plan for Privatizing Public Companies in Egypt
10/7/2012 - Minister of Investment Osama Saleh said there is no increase in the price of fertilizers and there is no plan for the privatization of public companies. Procedures are now being activated to allow the...
PBDAC Allocates EGP 1bn to Purchase Cotton
10/7/2012 - Agriculture and Land Reclamation Minister Salah Abdul-Mo'men agreed to allocate EGP 1bn from the Principal Bank for Development and Agricultural Credit (PBDAC) to buy cotton harvest from farmers at EG...
Nile Water Fit for Human Use
10/7/2012 - Minister Mohamed Baha'a-Eddien asserted that the national water grid sent samples from all Nile branches to labs which showed the good quality of water. He pointed out that the ministry launches a tes...
Foreign Investors Keen on Operating in Egypt
10/8/2012 - Investment Minister Osama Saleh denied claims that Saudi Arabia and the UAE refused to invest in Egypt after the outbreak of the January revolution. On the contrary, UAE Company "Emaar", for example, ...
Morsi's Corruption Remarks Drive Egypt Bourse Down
10/8/2012 - Egypt market plummeted on Monday as investors were driven off by President Morsi' comments about looming crackdown on 'corruption' in his 2-hour showcase speech Saturday, according to a market analyst...
Citadel Eyes $4bn Investment in Egypt Over Three Years
10/9/2012 - Egyptian private equity firm Citadel Capital plans to invest $4 billion or more in Egypt over the next three years and has an eye on infrastructure and energy-related projects, its chairman said on Tu...
Egypt to Respect Renationalisation, Cut Poverty 20 pct
10/9/2012 - Egypt's government will respect legal decisions to renationalise formerly state-owned companies once appeals are heard, the country's Investment Minister said.Osama Saleh also confirmed the ambitious ...
Egyptian Delegation to Attend IMF, WB Meetings
10/9/2012 - An Egyptian high level delegation leaves Cairo for Tokyo to take part in the official one week meetings of the IMF and World Bank (WB) to be held in the Japanese capital. The meetings will deal with m...
LE 300 Million for Textile Companies in Egypt
10/9/2012 - The cabinet decided on 8/10/2012 to allocate a sum of LE 300 million for restructuring spinning and weaving companies. The Cabinet said there will be no return to privatization policy, adding labor wi...
Hisham Qandil to Address Euromoney on Economic Solutions
10/9/2012 - Prime Minister Hisham Qandil is to inaugurate the first "Euromoney" conference after January 25 revolution. The conference is to be attended by Finance Minister Momtaz Al-Saeed, investment Minister Os...
Egypt to Get IMF Loan by Oct
10/9/2012 - Egyptian Prime Minister Hisham Qandil has said he hopes to complete loan negotiations with the International Monetary Fund (IMF) at meetings in Cairo in late October. Finance Minister Momtaz El-Said, ...
Egypt Can Control Budget Deficit, Increase Growth Rates
10/10/2012 - Addressing the opening session of the Euromoney conference on 9/10/2012, Prime Minister Hisham Qandil said Egypt can overcome its budget deficit estimated at LE 170 billion in the 2011-2012 budget. Eg...
Egypt's Central Bank is Robust, Policies Successful
10/10/2012 - Egypt's central bank is a robust institution whose recent success in stabilising the currency doesn't depend on a single member of staff, its sub-governor said on Wednesday. Speaking at a Cairo confer...
Egypt Stocks See Major Rebound on PM's Plans
10/10/2012 - Egypt’s stocks saw a strong rebound after two consecutive declines as positive sentiment generated by government efforts to reassure investors over President Mohamed Morsi's economic plans boosted the...
Egypt Strike Disrupts Work at DP World Port
10/13/2012 - Industrial action has seriously disrupted operations at Egypt's Ain Sokha port, run by DP World, a union representative and the operator said on Saturday. Angered at the dismissal of eight of their co...
Biateral Relations between Egypt and Malaysia
10/13/2012 - Prime minister received Malaysian minister for industry and international trade; this was attended by Egyptian minister of industry and foreign trade. The meeting tackled mutual cooperation between bo...
Dr Hisham Qandil Received Swiss Foreign Minister
10/14/2012 - Prime minister received Swiss foreign minister; the meeting was attended by Minister of State for Parliamentary Councils. The meeting tackled many issues like restoring smuggled money; Dr Kandel thank...
IMF Expects to Send Loan Talk Team to Egypt by End-October
10/14/2012 - The International Monetary Fund expects to send a team to Egypt by the end of this month for talks on the $4.8 billion loan that the country has requested, the fund’s top Middle East official said. Eg...
Mohamed Bahaa El Din Inspect Irrigation Project and Sohag International Airport
10/14/2012 - Dr: Mohamed Bahaa El Din, Minister of Water Resources and Irrigation has toured Sohag governorate on 13/10/2012 to inspect works to protect Sohag International Airport from flood waters that have been...

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