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Financials and Investment News in Egypt

Osama Saleh: Gov’t plans to achieve 4% growth rate
12/24/2012 - Investment Minister Osama Saleh asserted that the government's plan to reactivate the economy includes encouraging domestic, Arab and foreign investment and re-boosting production in various sectors. ...
Egyptian Economy has Ability to Grow
12/24/2012 - The Economic Group confirmed during a meeting presided over by Prime Minister Hisham Qandil at the Cabinet that the Egyptian economy has the ability to grow immediately after the return of stability. ...
Egypt’s Water Future Faces Risks
12/24/2012 - Minister of Irrigation Mohammed Bahaddin said that Egypt's future of water is faced with many risks with the rising population and the ensuing growing need of water in industrial, agricultural and tra...
Egyptian Farm in Cameron to Dress Food Shortage
12/24/2012 - Egypt and Cameron have signed a cooperation protocol in the areas of farming and animal wealth, which starts with setting up the first farm in Cameron at an area of 550 feddans. The Egyptian Embassy i...
Standard & Poor Cuts Egypt's Rating on Political Strife
12/24/2012 - Standard & Poors', the leading credit-ratings agency, decided to cut Egypt's long-term rating and said another cut was possible if political turbulence worsened, undermining the country's ability to m...
Egypt Stocks Rise Slightly Despite State's Credit Downgrade
12/24/2012 - Egypt’s stocks have reversed their southern turn on Monday to gain, despite the country’s credit rating being cut by Standard & Poor’s (S&P) rating agency. S&P, the leading credit-ratings agency, deci...
Egypt Supermarkets Seen as Target for Dubai Investor
12/24/2012 - Dubai's Majid Al Futtaim (MAF), is in talks with Egypt's Mansour Group, owned by billionaire Mohamed Mansour, to buy its supermarket business in a deal valued at $200 million to $300 million, three so...
Momtaz El-Said: New Tax Raises Aim at Fighting Evasion
12/24/2012 - The recently announced tax hikes ratified by President Mohamed Morsi and revoked by him shortly after due to public outcry target tax evasion loopholes that are being exploited by some to avoid financ...
Developing Egyptian Communications Market
12/25/2012 - Prime Minister Hisham Qandil held a meeting on 24/12/2012 on developments in the Egyptian communications market. The meeting took up the performance of Telecom Egypt and the future vision to enhance ...
New Tax Increase in Egypt will not Affect the Poor
12/25/2012 - Momtaz el-Saidsaid on 24/12/2012 that the tax changes will not affect the poor, and are also not part of the austerity program imposed by the IMF. The recently announced tax hikes ratified by Presiden...
Momtaz el-Saeid: Salaries, Pensions will be paid on Time
12/25/2012 - Finance Minister Momtaz el-Saeid asserted that salaries, wages, pensions and financial dues will be paid on time. El-Saeid stressed on 26/12/2012 that Egyptians' deposits in local and foreign currenci...
Pound Devaluation against Dollar Minimal
12/26/2012 - The Egyptian pound has been devalued against the dollar by only six piasters, Prime Minister Hisham Qandil said Tuesday, noting that this decline does not exceed one per cent. Fluctuating exchange rat...
Egyptian Economy to Ride out Crisis
12/26/2012 - Minister of Investment Osama Saleh said on 25/12/2012 that the few coming months are the most decisive and crucial for Egypt's economy, adding that all stakeholders attach hope for economic stability ...
Pound Devaluation against Dollar Minimal
12/26/2012 - The Egyptian pound has devalued against the dollar by only six piasters, Prime Minister Hisham Qandil said Tuesday, noting that this decline does not exceed one per cent. Fluctuating exchange rates ar...
Italian Companies Transferring Their Factories into Egypt
12/26/2012 - Minister of Industry and International Trade Hatem Saleh said that 15 Italian companies are seriously considering transferring their factories into Egypt to benefit by the competitive privileges on th...
Egypt Far from Bankruptcy
12/27/2012 - The Cabinet's spokesman Alaa el-Hadidi has ruled out that Egypt is on the brink of bankruptcy, asserting that Egypt is still committed to timely paying loans and their interests, saying "the economic ...
Ashraf al-Arabi: Egypt to Rsume Ngotiations with IMF
12/29/2012 - Planning and International Cooperation Minister Ashraf al-Arabi said on 28/12/2012 the Egyptian government will resume negotiations with the International Monetary Fund (IMF) after Christmas and sign ...
Egypt, Croatia to Establish Business Council
12/30/2012 - Minister of Industry and Foreign Trade Hatem Saleh indicated that Egypt and Croatia will establish a business council within two weeks. During a meeting with Croatian Ambassador in Cairo Darko Javorsk...
Qatar Deposits $500mln in Egypt
12/30/2012 - Minister of Finance Momtaz El-Saeed has said that Qatar has made a deposit of $500 million in Egypt, the last batch of deposits that Qatar pledged to pay. "Another $500 million deposit is to come from...
Suez Canal Regional Project to Bring in EGP100bn, More Jobs
12/30/2012 - Minister of Housing Tarek Tawfiq said on Saturday that a project for developing towns around the Suez Canal is underway which will secure one million jobs and bring in over EGP100 billion. The project...

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