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28 Feb 2016

Money transfers 28-2

Money transfers by Egyptians working abroad are planned to become a life jacket and quick solution for Egypt’s foreign exchange crisis. Egypt has been suffering from lack of foreign currency for years and the issue significantly increased in the past. Appeals were published on social media networks ...

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28 Feb 2016

Inauguration of East Port Said Port

Admiral Mohab Mamish, Head of the Suez Canal Authority, inaugurated the port of East Port Said’s side channel on Wednesday, after trial runs successfully passed through the channel earlier this week. The new canal aims to allow larger ships in and out of the port. Mamish said that about 45m cubic me...

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01 Feb 2016

Egypt’s economic gains highly susceptible to risk events

In an interview with Daily News Egypt analyst at Moody’s Sovereign Risk Group Mathias Angonin discussed Egypt’s bond credit rating, economic growth, national projects, and the stability of its economic situation. In an interview with Daily News Egypt analyst at Moody’s Sovereign Risk Group Mathias ...

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06 Jan 2016

Suez Canal Economic Zone

EFFORTS are underway to attract investors to the New Suez Canal Area Development Project (SCADP), which is subject to zero customs rates, Ahmed Darwish, head of the Authority formed to oversee the management of the zone, told members of the American Chamber of Commerce in Cairo recently. He added th...

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06 Jan 2016

Supporting trade with Africa

THE AFRICAN Export-Import Bank (AFREXIM) will provide Egypt with $500 million to support trade between Egypt and the bank's African member states, announced Tarek Qabil, the minister of industry and foreign trade, last week. The programme is designed to help support Egyptian companies making exports...

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04 Jan 2016

Amer presents to Al-Sisi CBE efforts to stabilise prices, secure staple goods

President Abdel-Fattah Al-Sisi met with Governor of the Central Bank of Egypt (CBE) Tarek Amer Tuesday. Official spokesperson for the presidency Alaa Yousef said that Amer presented to Al-Sisi the programme that was developed in coordination with the government, aiming for macroeconomic stability by...

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04 Jan 2016

State, CBE, target macroeconomic stability in new programme

The government and the Central Bank of Egypt (CBE) have decided to collaborate on designing a framework that aims at achieving macroeconomic stability, according to a press statement issued on Thursday. The programme is expected to positively contribute to economic growth and job creation, according...

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15 Dec 2015

Egypt's startups compete for venture capital on global stage

Ahmed Galal’s dental business was not doing well for a year following Egypt’s 2011 uprising, before he started a new project. The middle-aged Egyptian dentist decided to shut down his clinic and launch an online venture to help connect consumers with the qualified craftsman they need. "I don't inten...

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15 Dec 2015

Egypt seeks to drum up Gulf investments

Prime Minister Sherif Ismail will meet Saudi officials and investors this week in a bid to drum up more investment as Egypt seeks to revive an economy suffering from a foreign currency shortage. The talks follow a visit by Ismail and several ministers to Saudi Arabia earlier this month to present po...

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09 Dec 2015

Egypt GDP growth for Q1 2015-2016 likely below 5 pct: Planning minister

Egypt's planning minister Ashraf El-Arabi said on Tuesday that he expects GDP growth for the first fiscal quarter of 2015-2016 to be less than 5 percent, and that the government would look to push the budget deficit below 10 percent within the next two fiscal years. Egypt will also establish a comp...

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