Economy news

Stock indexes rise Sunday

31 Aug 2014
Egyptian stock indices recorded a relative increase at the end of Monday session kicking off the week's trading, supported by purchases of Egyptian investors.   Arab and foreign investors on the other hand favored selling.  ...
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EFEC: Furniture exports increased in 6 months

31 Aug 2014
Egyptian furniture exports had reached LE1,000,533 for the first six months of 2014, up until July.   Egyptian Furniture Export Council (EFEC) indicated to increase in exports between January and July 2014 compared to the same period...
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Number of tourists fell by 20.5% in June 2014

31 Aug 2014
The number of tourists coming from different countries fell back by 20.5 percent to reach 786,000 tourists in June 2014 compared to 989,000 tourists in June 2013.   The Central Agency for Public Mobilization and Statistics said the...
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Authority Chief: Suez Canal revenues to reach US$100 bn before 2023

Container ship Edith Maersk crosses the Suez Canal at East Port Said, 120 km (75 miles) northeast of Cairo, 5 October 2012.
31 Aug 2014
Revenues from the Suez Canal are projected to reach up to US$100 billion before 2023, according to Suez Canal Authority Chief Mohab Mamish.   “We carried out a successful marketing policy. Prices at the canal were doubled...
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Stock indexes rise sharply Thursday

28 Aug 2014
Stock indexes rose sharply Thursday, backed by the purchases of Egyptian investors.   The main index EGX30 was up by 0.65 percent by the end of the trading session.   EGX70 recorded an increase of 0.24 percent, while...
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First free trade zone to be established between Egypt, Gulf countries

28 Aug 2014
An informed source from the Trade and Industry Ministry said that an important meeting for ministers of the Economic Group (trade, finance, planning and investment) will be held before the end of the year to plan establishing the first...
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UAE to provide Egypt with loan to purchase petroleum products

General Petroleum Authority
27 Aug 2014
Tareq al-Mulla, executive chief of the Egyptian General Petroleum Corporation (EGPC), said the United Arab Emirates agreed to provide Egypt with a loan to meet the needs of petroleum products.   Emirates is not offering a grant to...
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Tax Authority Chairman: Late tax dues LE84.5 bn

27 Aug 2014
Tax Authority Chairman Mostafa Abdel Qader said the economic crisis that followed the 25 January revolution caused an increase in late tax dues of LE8.6 billion in the last three years, bringing the total dues to LE84.5 billion by the end...
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Stock market loses LE146 million

26 Aug 2014
Stock indices declined collectively on Tuesday, affected by local corporations selling to earn profits, while individual Egyptian, Arab and foreign investors preferred to buy. The main EGX30 index fell by 1.07 percent, the medium stocks...
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Ministers to inaugurate new land port between Egypt and Sudan on Wednesday

26 Aug 2014
Ministers from Egypt and Sudan are inaugurating on Wednesday the new Qostul-Ashkit land port between the two countries, which is expected to increase bilateral trade from LE5.5 billion to LE7 billion in one year. Gamal Hegazy, chairman of...
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