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Financials and Investment News in Egypt

Qandil Seeks WB Help to Upgrade Railway System
2/9/2013 - Egypt is seeking the help of the World Bank to implement projects it believes will provide better services for citizens. Prime Minister Hisham Qandil said upgrading the railway system and extending dr...
Egyptian Pound Remains Stable Against Dollar
2/11/2013 - The Egyptian pound has maintained stability against the dollar, standing at EGP 6.74 for the second week running, amid dropped demand on the dollar. This comes at a time when banks have started to enf...
Egyptian Stock Market Climbs as Protests Ebb
2/12/2013 - Egypt's bourse was back in the green, as main index EGX30 rose by 1.1 per cent, closing at 5,756 points. The broader-based EGX70 registered a higher increase of 1.9 per cent. The total turnover for se...
$24 Million for Tourah Cement New Filters in Egypt
2/13/2013 - Environment Minister Khaled Fahmy inaugurated on 12/2/2013 environmental projects at Tourah Cement plant at $24 million cost to replace the electrostatic filters with new fabric ones, which are more e...
Egypt Receives $174 mln on Reconciliation with Mubarak Figures
2/16/2013 - Egypt has had returned around $174 million in cash and land after the government reached a reconciliation deal with former ministers and businessmen who served or were prominent under deposed presiden...
Sheikh Khalifa, Berdymukhammedov hold talks
2/17/2013 - President His Highness Sheikh Khalifa bin Zayed Al Nahyan and President Gurbanguly Berdymukhammedov of Turkmenistan held a meeting that touched on ways to enhance bilateral relations, particularly in ...
FSA Reveals Stock Indexes Fell 15% in 3 Months
2/17/2013 - A report of the Financial Supervisory Authority (FSA) on the performance of the stock market during the period from October to December 2012 uncovered lower stock indexes between 6% to 15% with index ...
117 Defaulting Factories to be Bailed out in Egypt
2/18/2013 - Minister of Industry and Foreign Trade Hatem Saleh said that 117 out of 487 defaulting factories have been bailed out. Meanwhile, representative of the Social Fund for Development R'afat Abbas said th...
The World Bank Grants Egypt $6.7 Million
2/18/2013 - The World Bank Board of Executive Directors approved on 17/2/2013 the Global Environment Facility (GEF) Trust Fund's grant worth $6.7 million to Egypt. Speaking at a workshop on Sunday, Hartwig Schafe...
CBE President: Works Mainly to Fight Inflation
2/19/2013 - President of the Central Bank of Egypt Hisham Ramez said on 18/2/2013 that his key mission is to curb inflation and maintain prices stable; adding that economic state in Egypt now is not well and need...
Haddad: Egyptian Pound will not Collapse
2/19/2013 - President’s Assistant for Foreign Relations Essam Al-Haddad underscored on 18/2/2013 that the Egyptian pound will not collapse and that it is now stable. He added in an interview with Reuters that he ...
Osama Saleh: Ministry Supports Public Enterprise Firms
2/20/2013 - The Investment Ministry has said it supports all affiliated public enterprise companies that, according to Minister Osama Saleh, represent an Egyptian industrial and production system. However, he sti...
Egypt Stocks Maintain Downward Trajectory
2/21/2013 - Egypt's bourse continued its downward trend, as an ongoing campaign of 'civil disobedience' in Port Said entered its fourth day. Mass protests have continued in Port Said, leading to the closure of sc...
UAE, Ukraine Discusses Cooperation
2/21/2013 - Director of Economic Affairs and International Cooperation at the Foreign Ministry, Jassem Mohammed Al Qasimi received today here in his office Alexander Banksy, Deputy Minister of Economic Developmen...
UAE, Mauritius Discuss Cooperation
2/21/2013 - Director of Economic Affairs and International Cooperation at the Foreign Ministry, Jassem Mohammed Al Qasimi received today Ali Mansoor, the Financial Secretary of the Ministry of Finance and Economi...
Egypt, Netherlands Bound by Friendly Ties
2/22/2013 - Minister of Planning and International Cooperation Ashraf el-Arabi said on 21/02/2013 that Egypt and Netherlands are bound by friendly ties for over 30 years. Thanks to their long-standing relations, ...
Foreign Reserves Shrink to $13.6bn
2/22/2013 - Foreign reserves have declined to $13.6 billion, sufficient for covering only three months of imports, said Planning and International Cooperation Minister Ashraf el-Arabi. The figure is very disturbi...
Egypt’s Economy Recovering Slowly
2/22/2013 - Minister of Planning and International Cooperation Ashraf el Arabi said that Egypt will invite the International Monetary Fund (IMF) within days to resume talks on the IMF loan, whose value is estimat...
Egypt Bourse Gains EGP 800mln, Main Index up 0.3 pct
2/22/2013 - The Egyptian Exchange (EGX) made profits at the close of the week's trading on Thursday affected by purchases by foreign institutions and equities after the government announced it invited a technical...
Egypt, Netherlands Bound by Friendly Ties
2/22/2013 - Minister of Planning and International Cooperation Ashraf el-Arabi said on Thursday 21/02/2013 that Egypt and Netherlands are bound by friendly ties for over 30 years.

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