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Financials and Investment News in Egypt

Limited Gains at Bourse, Main Index up 0.04 pct
3/18/2013 - The Egyptian Exchange (EGX) recorded small profits at the close of trading affected by limited purchases by Arab and local investors of selective shares in the real estate and communications sectors. ...
Egyptian Investment Ministry Ready for Settling Orascom Crisis
3/18/2013 - Minister of Investment Osama Saleh voiced readiness to intervene to solve a dispute between Orascom Constructions Industries Company and the Taxation Authority within the context of the ministry's eff...
Expected Yield of Wheat to Cover Subsidized Bread
3/19/2013 - Minister of Agriculture Salah Abd Al-Mo'man said on 18/3/2013 that the expected yield of wheat this season could reach about 9.475 million tons, which he said would meet the country's need of subsidiz...
Qandil Discusses Developing Suez Gulf Industrial Zone
3/20/2013 - Prime Minister Hisham Qandil held on 19/3/2013 a meeting with a number of officials to discuss means of developing the Industrial Zone in North West Gulf of Suez. The meeting tackled ways to develop t...
Bassem Ouda: Basic Commodities Available at Low Prices
3/21/2013 - Supply and Internal Trade Minister Bassem Ouda said on 20/3/2013 that quantities of basic commodities are available at low prices. Wheat reserves reached one million tons enough for consumption till t...
Moody’s Downgrades Egypt’s Bond Rating
3/22/2013 - Credit ratings agency Moody's said on 21/03/2013 it has downgraded Egypt's government bond ratings by one notch to Caa1 from B3. "More than two years into the Egyptian revolution, the continued unsett...
Egypt’s Economy Close to Faltering, Negative Impacts on IMF Loan
3/23/2013 - President of the Middle East Credit Rating "MERIS" Dr. Amr Hassanein said that the reduction of Moody's Investors Service for sovereign debt in foreign currency of Egypt to CAA1 from B3 means it has p...
Qandil Meets Ministerial Group on Economic Issues
3/24/2013 - The ministerial economic group held a meeting headed by Prime Minister Hisham Qandil to discuss an expected visit by the International Monetary Fund (IMF) to Egypt in light of the recent positive talk...
Bilateral Cooperation between Egypt and Romania
3/25/2013 - Hassan El Shafei, head of the Egyptian-Romanian Business Council stressed that the Council will organize a delegation of companies and Egyptian businessmen with more than 20 companies in the sectors o...
Egypt One of most Attractive Countries for Investments
3/26/2013 - Kuwait's former speaker of parliament Jassem al-Kharafi said on 25/3/2013 that Egypt is one of the most attractive countries for investments in the Arab region. Investors are hoping situations to be s...
Turkish Shirts Factory to be Set up in Egypt
3/26/2013 - Preparations are underway for establishing a Turkish shirts factory in Egypt at $500 million investment. In a press release on 25/3/2013, Minister of Foreign Trade and Industry Hatem Saleh said once a...
LE 25 million to Support Communication Companies
3/27/2013 - US software giant Microsoft is to help Egyptian medium and small communication companies specialized in mobile and cloud applications with L.E. 25 million, Communication Minister Atef Helmy said. Micr...
Egypt is Africa’s Largest Producer of Fish Farms
3/29/2013 - Chairman of the General Authority for Fish Resources Development Dr. Khaled Abdel Aziz said on 28/3/2013, that Egypt is the largest producer of fish farms in Africa with a production of around 71% of ...
Iraq Rejects $4bn Egypt Lifeline Request on High Risk
3/29/2013 - An Iraqi official says Baghdad has rejected a request from Egypt for a $4 billion bond to be deposited in Egypt's central bank to bolster its faltering economy. The official said on Friday that it's "...
Egypt Welcomes More Italian Investments
3/30/2013 - Eng. Hatem Saleh, Minister of Industry and Foreign Trade, announced that 25 factories Italy on its way to move to Egypt in the coming stage, stressing welcome Egypt to receive more Italian investments...
Establishment of 3 Kuwaiti Companies in Egypt
3/30/2013 - Osama Saleh - Minister of Investment - said he was established 3 Kuwaiti companies in Egypt during the month of February, adding that Kuwait's contributions exceeded $ million Egyptian pounds. Saleh s...
Three Kuwaiti Companies Established in Egypt
3/30/2013 - Minister of Investment Osama Saleh said that three Kuwaiti companies were established in Egypt last February, adding that the value of Kuwaiti contribution in these companies reached more than EGP one...
Amendments to Customs to Support Production in Egypt
3/30/2013 - Minister of Finance El-Morsy El-Sayed Hegazy on 29/03/2013 said that the recent customs tariff amendments aimed at supporting the industrial and agricultural sectors while reducing the decline of Egyp...
25 Italian Plants Transfer Investment to Egypt
3/31/2013 - Industry and Foreign Trade Minister Hatem Saleh pointed out that Italy plans to transfer 25 Italian industrial plants to Egypt within the coming period, adding Egypt is keen on receiving more Italian ...
IMF Team to Arrive in Egypt for Loan Talks
3/31/2013 - An International Monetary Fund delegation will arrive in Egypt for talks with the government on a $4.8 billion loan, Egypt's government spokesman Alaa El Hadidi said on Sunday. More than two years of ...

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