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Financials and Investment News in Egypt

Egypt Stocks Rise 1% on Corporate Tax Law Changes
5/15/2013 - Egypt's benchmark EGX30 index rose by 1 percent to 5,455 points in a session that saw atypically high daily turnover of some LE1.1 billion, including LE695 million in bond trading.

"Investo...
Egypt Stocks Down
5/16/2013 - Egypt's stocks ended trading in the red with the main EGX30 index dropping 0.51 percent to close at 5,428 points. The market saw impressive gains on Wednesday gaining 1.1 percent on the back of favour...
Egypt Protects Foreign Investments
5/16/2013 - Cabinet Spokesman, Alaa el-Hadidi said that Prime Minister Hisham Qandil's participation in Davos international economic forum in Jordan next week is a message to the international institutions and bu...
Fayyad Abdel Moneim Urges Gov’t Bodies not to Eat up Budget Allocations
5/16/2013 - Finance Minister Fayyad Abdel Moneim issued a decree to ban State bodies from eating up budget allocations in the last month of the Fiscal Year that ends June 30. The decree stipulates that the remain...
Egypt Says Disputes with Dubai's DAMAC are Resolved
5/16/2013 - Egypt said it had settled disputes with the Dubai-based developer DAMAC involving projects dating back to the Mubarak era - an agreement the government hopes will reassure prospective investors.
Amr Darrag: Egypt would Sign IMF Loan Deal within “45 days”
5/17/2013 - Minister of Planning and International Cooperation Dr. Amr Darrag said that Egypt and the International Monetary Fund (IMF) would sign a deal for a $ 4.8-billion loan within 45 days. In press remarks ...
Yehia Hamed: Private Sector to Achieve EGP 3bn in Coming Period
5/17/2013 - Investment Minister Yehia Hamed said that the private sector is expected to achieve profits up to EGP 3 billion during the coming period. During a visit to the headquarters of Egypt's Bourse, Hamed sa...
Egypt Committed to Easing up International Trade Movement
5/17/2013 - Minister of Industry and Foreign Trade Eng. Hatem Saleh stressed Egypt’s full commitment to easing up the flow of international trade movement and reducing commercial barriers. The Minister pointed ou...
Syrian Grain Imports Pick up Despite Worsening War
5/17/2013 - Syria has managed to increase its grain imports in recent months after a period when it was less active on international markets, traders say, a development that suggests President Bashar al-Assad has...
$300mln Loan from WB to Egypt
5/18/2013 - The World Bank has granted Egypt a loan of USD 300 million after the revolution to finance small and medium-sized enterprises (SMEs) in the country, said Hartwig Schafer, World Bank Country Director f...
Suez Canal Project Aims at Doubling Revenues 20 Folds
5/18/2013 - Presidential Aide for projects' affairs Ahmed Soliman said the Suez Canal corridor development project is based on three phases with the aim of transferring the corridor into a global center for indus...
Qandil: Problems of Financing Young Investor to be Solved
5/20/2013 - Prime Minister Hesham Qandil met with a delegation of young investors on 19/05/2013 in the presence of Minister of Industry and trade Hatem Saleh. Qandil said that the government is keen to expand the...
Turkey to Increase $1 bln Credit Line to Egypt by $250 mln
5/20/2013 - Turkey will increase its $1 billion credit line to Egypt by $250 million, Turkish Deputy Prime Minister Ali Babacan said on Monday. Turkey was expected to transfer the remaining $1 billion of a $2 bil...
Bassam Ouda Allocates LE 2 bn to Buy Wheat
5/22/2013 - Supply and Internal Trade Minister Bassam Ouda said on 21/5/2013 that the Finance Ministry allocated LE 2 billion out of LE 11 billion to buy wheat from growers. The minister pointed out that the whea...
Abdullah II, British Foreign Secretary Discuss Ties
5/23/2013 - His Majesty King Abdullah II met with visiting British Foreign Secretary William Hague to discuss Jordanian–British ties as well as the latest developments in the Middle East. Discussions during the m...
Cutting Egypt's Budget Deficit
5/23/2013 - Egyptians' everyday expenditures might see some substantial increases if the government manages to carry out its plan to cut subsidies and raise taxes. In order to reduce the state's budget deficit fo...
Brazilian Firm to Pump EGP 2bn in Egypt’s Cement Market
5/24/2013 - As a result of President Mohamed Morsy's visit to Brazil, a giant cement company in Brazil decided to channel about two billion pounds in investment projects in Egypt. InterCement, a giant cement comp...
Four Cooperation Protocols Signed between Egypt, Libya
5/24/2013 - Egypt has agreed to sign four protocols of cooperation with Libya in the fields of urban planning, training, mortgage and the establishment of new urban communities, said Housing and Urban Communities...
Egypt, USAID Discuss Boosting Cooperation
5/24/2013 - Planning and International Cooperation Minister Amr Darag met in Cairo on 23/05/2013 with Mission Director for the United States Agency for International Development (USAID) in Egypt Mary Ott to discu...
Khalid bin Bandar Receives South African Ambassador
5/25/2013 - Prince Khalid bin Bandar bin Abdulaziz, Governor of Riyadh region, received here South Africa's Ambassador to the Kingdom of Saudi Arabia, Mohammed Sadeq Ja'afar. During the meeting, they exchanged co...

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