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Financials and Investment News in Egypt

Government Build First Nuclear Plant in Dabaa
1/23/2012 - The government will not backtrack on its decision to build the first Egyptian nuclear plant in Dabaa area, said Planning and International Cooperation Minister Fayza Abul-Naga at a press conference fo...
Obama Plans to Accelerate US Aid to Egypt
1/27/2012 - US President Barack Obama plans to accelerate US aid program to Egypt, which is witnessing a critical stage in its transition to democracy, a source at the US State Department said. ...
FM Discusses Restoring Looted Funds from Europe
2/8/2012 - Foreign Minister Mohammed Kamel Amr received on 7/2/2012 visiting European Union's special envoy to the Southern Mediterranean Bernardino Leon. ...
Gov’t Endorses National Reform Program
2/9/2012 - The Cabinet has endorsed a financial and economic reform program on which loan talks with the International Monetary Fund will be based. The IMF will be informed of the government's approval Internati...
Egypt Stocks Start Week Up 1.25 Pct
2/12/2012 - Egypt stocks ignored calls for a general strike by starting the trading week in the green. The EGX30 benchmark is gaining 1.25 per cent and sitting at 4,813 points by 1pm. The broader EGX70 is up an e...
Orascom Telecom in Talks with France Tel on Mobinil's Fate
2/12/2012 - Orascom Telecom Media and Technology (OTMT) has admitted it is in talks with France Telecom over the fate of their joint Egyptian mobile services venture, Mobinil. The Egyptian firm said in a statemen...
Egypt Sells $1.7 Billion of Repos to Curb Rising Yields
2/14/2012 - Egypt’s central bank sold 10.2 billion Egyptian pounds ($1.7 billion) of seven-day repurchase agreements, accepting all bids as it seeks to curb rising borrowing costs. The North African country’s reg...
Government to Discuss Implementing Development Projects
2/15/2012 - Prime Minister Kamal el-Ganzouri said that a number of LE 11-billion development and service projects will be carried out through partnership between the public and private sectors. ...
Juhayna Officials Jailed for Milk-Skimming Scam
2/15/2012 - Two senior staff at Egypt's largest dairy producer are handed one-year prison sentences for watering down milk at Nile Delta plant.
Egypt's Major Stocks Slip 0.7 Pct
2/16/2012 - Egypt's major stocks took another hit on Thursday with the benchmark EGX30 slipping a further 0.73 per cent to close the week at 4,967 points. The broader EGX70, by contrast, edged up 0.32 per cent.
CBE Remains Open for Contributions to Egypt’s Economy
2/17/2012 - The Ministry of Finance account at the Central Bank of Egypt (CBE) allocated to receive contributions to boost Egypt's economy remains open, Minister Momtaz el Saed said on 16/02/2012. ...
Egypt’s Bourse Gains EGP17bn Despite Varied Performance
2/17/2012 - Egypt's bourse gained EGP17 billion prompted by purchases this week despite a varied performance. At the end of this week's trading, EGX30 index rose by 4.49 percent to 4,967 points. EGX70 index rose ...
11.1% Rise in Trade Exchange with France
2/17/2012 - The volume of trade exchange between Egypt and France was up by 11.1% during the period from January to October 2011, standing at 2,408.1 million Euros compared to 2,167.8 million Euros in the same pe...
Abul Naga Discuss IMF Loan to Egypt
2/20/2012 - Planning and International Cooperation Minister Fayza Abul-Naga met on 19/2/2012 with People's Assembly Speaker Saad el-Katatni. The meeting touched on negotiations that will be held with the Internat...
Iran to Invest $ 1.5 Bn in Egypt
2/22/2012 - Prime Minister Kamal al-Ganzouri approved on 21/2/2012 that Iran Garment Holding Company would establish two plants for producing small cars and manufacturing and filling gas cylinders with $1.5 billi...
Egypt Unlikely to Hit 2012 Investment Target
2/22/2012 - Egypt is unlikely to lure the foreign investment it hoped for this year as nervous overseas businesses spend small following political unrest there, the chairman of a state-run investment agency. Howe...
Shell to Invest $600 Million in Egypt
2/23/2012 - Shell Oil Corporation earmarked $600 million for petroleum and natural gas exploration in Egypt as well as for the development of already-existing wells.

This was announced during a meeting ...
Egypt & U.S. Important Relations
2/23/2012 - Foreign Minister Mohamed Kamel Amr asserted that investments for Egyptian companies increased recently, especially in the field of energy, worth several billions of dollars thanks to confidence in the...
Facilitating Procedures for Investors in Egypt
2/24/2012 - Minister of Finance Momtaz El-Saeed decided to form ad hoc committees grouping leaders of the Ministry of Finance, departments of tax, customs and property taxes as well as the Board of Directors of t...
Egyptian-Indian Ministerial Committee Meets in Cairo
2/25/2012 - Ambassador Mohammad Hegazi, the Assistant Foreign Minister for Asian Affairs said on 24/02/2012 that the Egyptian-India joint ministerial committee, led by Foreign Minister Mohamed Kamel Amr and his I...

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