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Financials and Investment News in Egypt

Egyptian Political Groups Demand Halt of IMF Loan Talks
11/13/2012 - Several Egyptian political groups sent a letter to Egyptian Prime Minister Hisham Qandil and International Monetary Fund (IMF) head Christine Lagarde rejecting ongoing negotiations for a proposed $4.5...
Telecom Egypt Eyes Deal with Government on Mobile Service
11/13/2012 - Telecom Egypt is in advanced talks with the government on a deal allowing it to offer mobile services in addition to its traditional mainstay fixed-line business, where revenue is under pressure. Tele...
Egypt's Sawiris Eyes Brazil's GVT in Telecom Italia Bid
11/13/2012 - Telecom Egypt is in advanced talks with the government on a deal allowing it to offer mobile services in addition to its traditional mainstay fixed-line business, where revenue is under pressure. Tele...
Hisham Qandil: LE 46 Billion Worth of New Investments
11/13/2012 - Following the inauguration of four new projects in Beni Sueif, Prime Minister Dr. Hisham Qandil announced on 12/11/2012 that the government has managed to attract investments worth LE 46 billion from ...
Egyptian Economic Capital, Development Fund at LE 10 bn
11/13/2012 - Minister of Legal Affairs and Parliamentary Councils Dr. Mohamed Mahsoub disclosed that they finalized a draft of the Egyptian economic capital project and it will be announced soon. It includes job o...
Egypt to Receive $6.3 bn in 'Support' from EU
11/14/2012 - The European Union has approved a five billion euro ($6.3 billion) 'support package' to Egypt over a two year period to be disbursed through the EU's finance institutions, the Egyptian presidency anno...
Egypt Signs 3 Agreements with EU
11/14/2012 - Egypt and the European Union (EU) signed on 13/11/2012 three cooperation agreements. The Vice-President of the European Commission and Commissioner in charge of Industry and Entrepreneurship Antonio T...
EU Approves € 5 bn Package to Egypt
11/15/2012 - The European Union approved a 5 billion euro financial support package to Egypt, the Egyptian Presidency said in a statement on 14/11/2012. Under the unprecedented package of financial support, the Eu...
Morsi Discusses National Economy with Economic Group
11/15/2012 - President Mohammed Morsi discussed on 14/11/2012 with the economic group several important economic files. Figuring high on the meeting's agenda were means of attracting more investments and increasin...
Agreement on IMF Loan to be Signed Soon
11/16/2012 - Finance Minister Momtaz Al-Saeed said the International Monetary Fund (IMF) team will extend their stay in Egypt till Monday, in order to sign the deal which is a tentative agreement by the two sides ...
IMF Approved most of Programs Outlined by Egypt
11/16/2012 - Governor of the Central Bank of Egypt (CBE) Farouk Al Oqda said an agreement with the International Monetary Fund (IMF) is nearing whereby Egypt will receive a $ 4.8 billion loan. Oqda added that the ...
Egyptian and Turkish businessmen meetings
11/17/2012 - Egyptian and Turkish businessmen meetings started on 17/11/2012. A number of 500 businessmen from both sides participate in the meetings that aim at increasing trade exchange. Chairman of the Egyptian...
New Mechanisms for Boosting Foreign Trade in Egypt
11/17/2012 - Minister of Industry and Foreign Trade Eng. Hatem Saleh on 17/11/2012 stressed the government's keenness to solve all problems and remove obstacles that hinder the increase of exports. The Minister un...
100 Turkish Businessmen Arrive to Cairo
11/18/2012 - A group of Turkish businessmen landed in Cairo Saturday as a part of a large Turkish delegation headed by Turkish Prime Minister Recep Tayipp Erdogan who arrived later. The delegation includes 100 bus...
Dr. Mohamed Bahaeddin Inaugurates 4 Stations
11/18/2012 - Minister of Water Resources and Irrigation, Dr. Mohamed Bahaeddin on 17/11/2012 inaugurated four pumping stations to improve irrigation in Aswan and Luxor. The aggregate cost amounted to EGP 90 millio...
Egyptian Steel to Go Public, Seeks 25 pct of Steel Market
11/18/2012 - Qatari-Egyptian steel venture, Egyptian Steel (ES), has taken the decision to go public by selling part of its shares in the stock exchange, the company's chairperson told Reuters Sunday. During Reute...
Ezz Steel Awarded New Expansion Licence
11/19/2012 - A subsidiary of Ezz Steel, Egypt's largest steel producer, has been granted a new licence for the production of Direct Reduced Iron (DRI), also known as sponge iron, the company stated. The licence wa...
Egypt Seeks to Raise Rate of Economic Growth
11/19/2012 - During the Turkish-Egyptian business council forum which was attended by Turkish Prime Minister Recep Tayyip Erdogan, Egyptian Prime Minister Hisham Qandil underlined the Egyptian government's respect...
Government Keen to Solve Japanese Firms Problems
11/20/2012 - Industry and Foreign Trade Minister Hatem Saleh said on 19/11/2012 that the government is keen to attract more Japanese investments to Egypt and to encourage them to boost production. This came during...
Urgent Plan to Develop Egyptian Railways
11/20/2012 - While angry responses to the Assiut bus-train crash continue, the government announced an all-out plan to develop the Railways authority. Minister of Cooperation and International Planning Ashraf El-A...

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