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Financials and Investment News in Egypt

Tourist Numbers to Egypt Rise 17 pct in 2012
1/22/2013 - Egypt recorded a 17 per cent rise in tourists in 2012 and a 13 per cent increase in income generated, the tourism minister said, indicating a steady recovery in the vital industry. Hisham Zaazou did n...
Egypt Bourse Sees Gains Ahead of Uprising Anniversary
1/22/2013 - Egypt's stock exchange gave an uneven performance in the lead-up to Friday's planned anti-government demonstrations. The main EGX30 index gained 0.7 per cent to close at 5,680 points. The index has ri...
Egypt Endorses FTA Agreement with Mercosur
1/22/2013 - Egypt has endorsed the Free Trade Area agreement signed with the Mercosur (Southern American Common Market) on August 2, 2010, said Deputy Spokesman for the Foreign Ministry Nazieh el-Nagari. In state...
Toshka land to be allocated to Nubians
1/22/2013 - Prime Minister Hisham Qandil gave directives on 21/1/2013 to meet swiftly demands of Nubians in Aswan. Qandil called for transferring the ownership of the agricultural lands in Kom Ombo to the Nubians...
Bilateral Cooperation between Egypt and UAE
1/23/2013 - Minister of Industry and Foreign Trade Hatem Saleh has discussed with representatives of a major UAE industrial group operating in manufacturing and producing sugar the possibility of establishing a m...
Hisham Qandil Witnesses Launch of Fund to Support SMEs
1/23/2013 - Prime Minister Hisham Qandil witnessed on 22/1/2013 the launch of "Bedaya Fund" for direct investments in small- and medium-sized enterprises (SMEs). The document was inked between the fund's operatin...
Egypt Bourse Loses EGP 2. 7 billion
1/28/2013 - The Egyptian Exchange lost almost EGP2.7 billion on Sunday's trading due to intensive sales by Egyptian investors.

The main benchmark EGX 30 index went down by 0.02 percent reaching 5,688 p...
Egypt's Morsi to visit Germany and France
1/29/2013 - President Mohamed Morsi will pay a two-day visit to Germany and France, where he will meet German Chancellor Angela Merkel and German President Joachim Gauck, as well as French President Francois Holl...
Sukuk Issuance will be in 4th Quarter of Current FY
1/29/2013 - Finance Minister Adviser Ahmed el-Nagar said that the Ministry will start the Sukuk issuance project for financing economic and social projects in the fourth quarter of the current fiscal year's budge...
Hisham Qandil Discusses Turkish Projects in Egypt
1/30/2013 - Prime Minister Hisham Qandil received the head of the Turkish investment group in the October 6th City who is running the Egyptian Turkish Industrial Zone. This zone contains 70 factories, working in ...
ESE Loses LE 4.5 bn
1/30/2013 - The Egyptian Stock Exchange (ESE) lost LE 4.5 billion on 29/1/2013 trading due to sales of foreign institutions and the current unrest Egypt goes through. The main benchmark EGX 30 index was down by 2...
IMF Loan Talks Going Smoothly: El-Morsi Hegazy
1/30/2013 - Negotiations between Egypt and the International Monetary Fund (IMF) over a $4.8 billion loan deal are advancing smoothly, Egyptian Finance Minister El-Morsi Hegazy has said. "The agreement is current...
Egypt’s Negotiations with IMF Underway
1/31/2013 - Finance Minister el-Morsi Hegazi said on 30/1/2013 that Egypt is committed to implement integrated economic and social measures to support economic, financial and social stability in Egypt. Hegazi sai...
LE 45 Million Investments to be Pumped in New Projects
1/31/2013 - Communication & Information Technology Minister Atef Helmy reviewed on 30/1/2013 proposed future projects at LE 45 million investments aiming to develop local demand in the field of infrastructure. Th...
Egypt to be among World’s 10 Emerging Economies
1/31/2013 - President Mohamed Morsi said Egypt's economy is recovering as it witnessed positive indications in the first quarter of the current fiscal year. The growth rate in this quarter increased by 2.6 per ce...
Egyptian Gov’t Approves Increasing Pensions as of July, 2012
1/31/2013 - Insurance and Social Affairs Minister Nagwa Khalil said on 30/1/2013 that the Cabinet approved a presidential decree to increase pensions as of July 2012. Speaking at a press conference held after a C...
Germany to Support Egypt with 354 Million Euros
2/1/2013 - Minister of Planning and International Cooperation Ashraf el-Arabi said that Germany would support Egypt with 354 million euros to implement several projects in the fields of sanitary drainage and dri...
Troubled Maersk Vessel Risks Blocking the Suez Canal
2/2/2013 - Emma Maersk, one of the world's largest container ships, is currently facing mechanical problems at the northern entrance of the Suez Canal after water leaked inside its engines room, putting the ship...
553 Projects Implemented in Egypt
2/2/2013 - The Cabinet announced on 01/02/2013 that a number of 553 projects have been implemented in January 2013, the matter which shows the government’s keenness on implementing projects that improve quality ...
Egypt to Cut Energy Subsidy Bill by 50pct over Five Years
2/2/2013 - Egypt’s government is working on a programme to cut the country's energy subsidy bill by 50 per cent over the coming five years and to compensate by raising Egyptian wages, the state-run MENA news age...

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