Economy news

EGX losses 22.4 billion, benchmark fells 7.1% during October 2014

31 Oct 2014
The benchmark index EGX30 fell 7.1 percent during October 2014, recording 9,115.63 points from 9,811.40 at September's end, stock market data showed.     The small and mid-cap index EGX70 also fell 4.3 percent to...
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Stimulus package to boost international automotive investment in Egypt

Workers clean windows next to a Nissan Motor Co.'s vehicle, displayed outside the company's showroom in Yokohama, south of Tokyo 8 February 2012.
31 Oct 2014
Egypt is preparing a package of incentives aimed at creating a sophisticated auto industry during the coming period through attracting many international auto companies to establish new investments in the Egyptian market, Minister of...
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New chemical project to produce 275,000 tons of caustic soda per year

30 Oct 2014
Prime Minister Ibrahim Mehleb visited the Sanmar Chemicals factory in Port Said on Wednesday.   The factory, which is the largest in the Middle East and North Africa, is projected to produce 275,000 tons of caustic soda per year, 60,...
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Egypt's stocks continue rally on Thursday, gain LE8.3 billion in a week

30 Oct 2014
The Egyptian stock exchange achieved a remarkable turnover in Thursday's session at LE1,058 million backed by institutions’ strong buying appetite that recorded a net flow of LE204.69 million, out of which LE148.55 million belong...
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Standard & Poor's delegation in Egypt to assess political environment

30 Oct 2014
A Standard & Poor's Ratings Services delegation arrived on Wednesday to conduct several interviews as part of preparing Egypt’s classification that will be announced during the coming period, the Ministry of Finance said. The...
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Egyptian-Russian alliance on global logistic center for grains investment

30 Oct 2014
A leading Russian investment company offered to set up an alliance with Egypt to participate and invest in the Global Logistic Center for Grains, Cereal and Food Commodities project. President Abdel Fattah Al-Sisi had recently given the go...
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EFG Hermes expects lower oil prices as positive news for Egypt

An offshore platform of Aramco's Karan non-associated gas field is seen in Saudi Arabia's territorial waters in this undated handout picture.
29 Oct 2014
EFG-Hermes expected lower oil prices as clearly positive news for oil-importing MENA. Egypt, Morocco, Jordan and Lebanon are likely to enjoy the biggest gains, Egypt's largest investment bank said in report on Wednesday.   "...
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Egypt's stocks rise 2.4% on Wednesday, gain LE5.7 billion

29 Oct 2014
The Egyptian stock exchange made remarkable gains in Wednesday’s session backed by Foreign and Arabs institutions’ buying.   The EGX30 index soared 2.37 percent breaking the resistance level of 8,835 points to record 8,952...
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World Bank: Egypt rises one place to 112th in 2015 Doing Business ranking

29 Oct 2014
Egypt rose a place in the global rankings, due to improvements in its business environment in 2014, according to a new World Bank report.   The one place rise in the Doing Business 2015 report, issued Wednesday by the World Bank, was...
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PM decides prices for purchasing electricity generated from renewable sources

29 Oct 2014
Prime Minister Ibrahim Mehleb issued decision on Tuesday specifying price of purchasing the electricity energy produced from stations using renewable energy sources to Egyptian Electricity Transfer Company (EETC) or electricity...
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