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Economics/Financial Analysis News in Egypt

Egypt Agrees $1bn in Funding for Food, Energy
7/1/2012 - Egypt's government has signed an agreement with the Saudi Arabia-based Islamic Development Bank (IDB) for $1 billion in funding for energy and food imports, the government said in a statement on Sunda...
Chinese Project of Fiberglass in West Suez at $200 Million
7/1/2012 - Egypt's Supreme Council of Energy in a meeting held on 30/6/2012 with Prime Minister Dr. Kamal Al-Ganzouri, approved to increase volume of generating power and gas for the Chinese company "Jushi" to p...
Egypt's El Sewedy to Invest $350m in Niger
7/1/2012 - Egypt's El Sewedy Electric the Arab world's biggest listed cable maker, plans to enter Niger by investing about $350 million in fibre optic and power transmission projects, the group's vice president ...
Egypt's Budget Still in Limbo as Fiscal Year Begins
7/1/2012 - The 2012/13 financial year began in Egypt with the country still lacking a new state budget. Annual state spending plans typically take effect on 1 July, but the status of this year's budget, currentl...
Egypt's Military Council Approves 2012/13 State Budget
7/2/2012 - Egypt’s state budget for the 2012/13 fiscal year has been approved by the Supreme Council of the Armed Forces (SCAF), the finance ministry announced Sunday evening. The new budget will come into effec...
$ 33 Billion Foreign Debts of Egypt
7/2/2012 - Egypt is entering the new fiscal year 2012/ 2013 carrying $ 33 billion foreign debts and L.E. 1.2 trillion local debts with Central Bank foreign currency reserves as at the same date put at $ 15.6 bil...
Egypt's Military-Approved Budget Could Stall Morsi's Plans
7/3/2012 - Egypt's new state budget may give President Mohamed Morsi little scope for accomplishing the expansive social and fiscal reforms he promised during his election campaign, local economists say. The cou...
Bourse Gains LE 11.4 bn, Main Index up by 4.97%
7/3/2012 - Trading in the Egyptian Exchange (EGX) maintained its upward spiral on 2/7/2012 with gains amounting to LE 11.4 billion amidst investors' optimism over stability being restored and economic recovery i...
Bourse Gains LE 11.4 bn, Main Index up by 4.97%
7/3/2012 - Trading in the Egyptian Exchange (EGX) maintained its upward spiral on Monday 2/7/2012 with gains amounting to LE 11.4 billion amidst investors' optimism over stability being restored and economic rec...
HSBC Buys at Least 5 pct of EFG-Hermes
7/4/2012 - British bank HSBC has acquired a stake of at least 5 per cent in EFG-Hermes, the Middle East's biggest home-grown investment bank, Egypt's stock exchange said on Tuesday. Business at Cairo-based EFG w...
Global Economy Could Get Worse on Europe Debt Crisis
7/6/2012 - International Monetary Fund chief Christine Lagarde Friday warned the global economy was slowing and said the situation could get worse because Europe was not doing enough to fix its debt crisis. Laga...
Bourse Gains EGP 1.8bn
7/6/2012 - Trading in the Egyptian Exchange on 05/07/2012 went up on the backdrop of massive purchase operations by Egyptian and Arab investors with the market capital gaining EGP 1.8 billion to reach EGP 349.9 ...
Tunisian Central Bank Wary of Interference
7/7/2012 - Tunisian central bank governor Kamel al-Nabli warned that political interference in monetary policy would alarm investors already jittery after last year's revolution as he rejected a presidential pus...
Ganzouri Urges Upping Investments for Nile Basin Countries
7/7/2012 - Prime Minister Dr. Kamal El-Ganzouri stressed the need to provide technical support and assistance to Nile Basin countries in the domains of training and infrastructure while providing facilities for ...
Egypt Bourse Gains EGP10bn
7/7/2012 - The Egyptian Exchange gained EGP10 billion this week and the main index rose by 5 percent. The main benchmark EGX 30 index rose by 5.12 percent to 4,950 points. The broader EGX 70 index of the leading...
Egyptian State Revenues are Overestimated
7/8/2012 - Egypt may not be able to raise enough proceeds to cover its needs as the state budget for fiscal year 2012/2013 is estimated assuming high economic growth. The budget was approved by the country's mil...
CBE: Financial Position of Banks Reaches EGP1.3 Trillion
7/9/2012 - A recent report by the Central Bank Egypt (CBE) showed rise in financial position of banks - other than the Central Bank- by EGP 75.6 billion by 4.2% to reach EGP 1322.4 during the period from July 20...
The Egyptian Stock Exchange (ESE) Loses LE 3.3 BLN
7/9/2012 - The Egyptian Stock Exchange (ESE) witnessed a collective decline at the beginning of the week on the backdrop of profit-taking, after a two-week rise. Market capital lost some L.E.3.4 billion at the s...
Rise in Egypt's June Reserves Masks Serious Fiscal Problems
7/9/2012 - Egypt's net reserves may have edged up for a third consecutive month but a genuine recovery is still far off, analysts say, as one-time payments and revaluations mask the country's potentially chronic...
Egypt Urban Inflation Falls to 7.3 pct in June 2012
7/10/2012 - Egypt’s annual urban inflation registered 7.3 per cent in the twelve months to June 2012, says the Central Agency for Statistics and Mobilisation (CAPMAS). This is down from 8.3 per cent in the 12 mon...

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