Economy news

Trade Min.: Devising a road map for WTO necessary

Mounir Fakhry Abdel Nour
26 Jan 2015
Minister of Trade and Industry Mounir Fakhry Abdel Nour returned home on Sunday coming from Switzerland, where he participated in the World Economic Forum.On the sidelines of Davos Forum, Abdel Nour participated in a World Trade...
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Sources: Emaar Properties targets Q2 for $270 mln Egypt unit float

26 Jan 2015
Dubai's Emaar Properties will submit plans to float its Egyptian unit to the North African country's regulator "within days" ahead of an initial share sale earmarked for the second quarter, two sources aware of the matter...
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Egypt's market loses LE350 million on Monday, EGX30 down 0.65%

26 Jan 2015
Egypt's market main index declined 0.65 percent  on Monday's session recording 9,834.81 points and a turnover of LE756million, the Egyptian Exchange data showed. Meanwhile, the broader EGX70 index and  the EGX100...
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UPDATE: CBE governor says Egypt to ease foreign currency transfers

26 Jan 2015
Egypt will loosen restrictions on foreign currency transfers, according to Central Bank Governor Hisham Ramez.   "The Egyptian government will take further steps during the coming period toward easing restrictions on the...
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Egypt awards $2.2 bln LNG tender to 4 foreign firms-state gas board

A ship passes a petro-industrial complex in Kawasaki near Tokyo December 18, 2014.
 
25 Jan 2015
Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms, its chairman said on Sunday, as the country seeks new energy sources. Declining production and...
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Abu Dhabi, Qatar rise; property stocks weigh on Dubai

© AFP/File | Emirati men sit under a stock market screen at the Dubai Financial Market (DFM) in Dubai, on January 30, 2011
 
 
 
25 Jan 2015
 Stock markets in the United Arab Emirates and Qatar were mixed in low-volume trade on Sunday as most countries in the Middle East closed their bourses following the death of Saudi Arabia's King Abdullah. His successor King Salman...
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Drop of Russian Ruble hammers Egyptian tourism

24 Jan 2015
The Tourism Ministry decided last Thursday to exempt the Russian tourists from paying the US$25 Egyptian visa in order to promote Russian tourism after being hit by the sharp drop of the Russian Ruble, which fell to 7.9 versus the US...
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Three oil agreements with investments of USD 47 million

Natural gas field in the Mediterranean
23 Jan 2015
Petroleum Minister Eng. Sherif Ismail inked three new agreements for prospecting for petroleum and natural gas in the two regions of the Western Desert and Nile Delta with the Tunisian Company HPS and the French Company Total Global. The...
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Minister: Customs Act to be amended in line with international standards

22 Jan 2015
Finance Minister Hany Qadry Dimian announced Thursday a plan to amend the Customs Act No. 66 of 1963 and its implementing regulations so as to keep it in line with international standards and trade agreements.   The amendments...
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Businessmen propose fund to stabilize cotton prices after subsidy lift

Cotton farmers
22 Jan 2015
Egyptian businessmen are searching for alternatives to save the cotton industry after the recent decision by the government to lift subsidies provided to its planters.   The agricultural committee at the Egyptian Businessmen’s...
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