Economy news

Egyptian iron workers suspend all production

Egyptian iron workers
23 Nov 2014
The workers at the Egyptian and Iron Steel Company (EISCO) went on a total strike demanding 15 months worth of annual profit shares, four delayed bonuses for this year, the dismissal of the board of directors and the return of...
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Egypt seeks strengthened investment ties with Saudi Arabia

Supply Minister Khaled Hanafy
23 Nov 2014
Egypt said on Sunday it is seeking a strategic alliance with Saudi Arabia, stressing on the necessity to boost trade between the two countries.   Speaking during the 16th Conference for Arab Businessmen and Investors, Egyptian...
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Oil, global equities support markets

AFP/File | Iraq exported an all-time high of 3.5 million barrels of oil a day
23 Nov 2014
A slight rebound in oil prices and a rally in global equities supported most stock markets in the Middle East on Sunday, but profit-taking continued in Qatar. Brent crude climbed back above $80 a barrel and global stock markets also rose...
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Presidency spokesperson: Govt to issue unified investment law

23 Nov 2014
President Abdel Fattah Sisi has confirmed the government's intention to issue a unified investment law, said presidency spokesperson Alaa Youssef.   Saudi Ambassador Ahmed Abdel Aziz Qattan announced during a meeting between Sisi...
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UAE's Abraaj says raises offer price for Egypt's Bisco Misr

23 Nov 2014
United Arab Emirates-based Abraaj Investment Management has increased the price it is offering shareholders of Bisco Misr to buy the Egyptian company, Abraaj said in a statement on Sunday. Abraaj is now offering 79.10 pounds ($11.06) a...
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Egypt's Amer Group to split into two companies

23 Nov 2014
Egyptian real estate company Amer Group plans to split into two companies in an attempt to create more opportunities for its development business and boost trading in its shares. The company, which owns hotels, restaurants and shopping...
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Egypt hopes to attract $10-12 billion at investment summit in March

Investment Minister Ashraf Salman
22 Nov 2014
Egypt hopes to attract investment of $10-$12 billion in 20 projects, including in energy, transport and water, at a major conference in mid-March, the minister for international cooperation said on Saturday. The conference is seen as a...
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NTRA: Mobile operators exceeded poor service legal rate

22 Nov 2014
The National Telecommunications Regulatory Authority (NTRA) has said that service by Egypt's three mobile carriers, Vodafone, Mobinil and Etisalat is getting worse.   In its quarterly report, NTRA revealed a growing failure in...
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Egypt to offer projects to domestic, foreign investors

22 Nov 2014
Egypt will offer a slew of projects to domestic and foreign investors at a conference in March aimed at kick-starting an economy battered by years of political unrest, the prime minister said Saturday. Falling tourist revenues and slowing...
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Egypt's economic conference scheduled for Mar. 13 to 15 – prime minister

22 Nov 2014
 Egypt's economic conference will be held in the resort city of Sharm el-Sheikh from March 13 to 15 next year, the prime minister announced on Saturday. Prime Minister Ibrahim Mehleb told a press conference that the conference,...
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