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EGP 70bn required for completion of water and wastewater infrastructure: HCWW chairman

  /  April 16, 2014  /  Business  /  2 Comments

Several projects aiming to improve Egypt’s water system are currently being implemented

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Minister of Communication announces EGP 5bn sector development plan

  /  April 16, 2014  /  Business  /  1 Comment

Atef Helmy says that the implementation of the plan will take seven years

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Political upheaval obscures growth potential: Markaz

  /  April 16, 2014  /  Business  /  2 Comments

Kuwait Financial Centre Markaz recently published a report on the Egypt Asset Management Industry. In this research report, Markaz analyses the current state of Egypt asset management industry in terms of market structure, market participants, read the rest…

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Ministries of Housing and Supply cooperate on development of services in new cities

  /  April 16, 2014  /  Business  /  1 Comment

New cities will be provided with markets, trade complexes, logistics areas and factory outlets, housing ministry says

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Armed forces finalise plans to build 1m youth residential units

  /  April 15, 2014  /  Business  /  1 Comment

Construction on the project, launched by former defence minister Abdel Fattah Al-Sisi, is expected to begin in December

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Government to adopt new economic stimulus package

  /  April 15, 2014  /  Business  /  3 Comments

Minister of Finance says package would focus on industry, housing and construction, communication and tourism sectors

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Morocco’s economic growth slows in first quarter as agricultural output falls

  /  April 15, 2014  /  Business  /  2 Comments

Reuters  – Morocco’s economic growth slowed sharply to 2.5% in the first quarter from a year earlier, and is likely to ease slightly again this quarter as agricultural output shrinks, the country’s planning agency said read the rest…

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UAE’s Air Arabia bets on Ras Al Khaimah hub

  /  April 15, 2014  /  Business  /  1 Comment

The Sharjah-based budget carrier, which currently operates out of three hubs in the Gulf and North Africa region, signed an agreement with the RAK government in February declaring it the official carrier for the emirate and RAK airport as its new hub.

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Civil society organisations call for budget transparency

  /  April 15, 2014  /  Business  /  2 Comments

Finance ministry has failed to meet legal obligations in publishing budget drafts for the state, economic bodies and public sector, joint statement says

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Natural gas supplies to be temporarily reduced by 5%

  /  April 15, 2014  /  Business  /  2 Comments

A natural gas supply unit will stop working from 17 to 27 April, Ministry of Electricity says

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Saudi Arabia imposes fines, jail terms for visa lapses

  /  April 15, 2014  /  Business  /  2 Comments

Punishment ranging from fines and jail terms to confiscation of assets and deportation may be imposed, escalating a year-long crackdown on visa irregularities that have been overlooked for decades.

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Gulf support should not substitute for long-term economic reform: IMF official

  /  April 15, 2014  /  Business  /  1 Comment

Egypt must address “imbalances in the budget”, generate jobs, and improve living standards, says Massod Ahmed, IMF’s Middle East director

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Egypt’s SODIC settles with government over Eastown project

  /  April 15, 2014  /  Business  /  1 Comment

Reuters – Property developer SODIC has signed a dispute settlement with Egypt’s government, agreeing to pay EGP 900m ($129m) over seven years after a revaluation of its Eastown scheme in Cairo, the company said on read the rest…

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Investment projects in transportation sector total $3.5bn: Transport minister

  /  April 15, 2014  /  Business  /  2 Comments

A number of transportation projects included in the stimulus package have been completed, says El-Demeiry

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Egypt ranks second in the World’s Richest Arabs list: Forbes Middle East

  /  April 14, 2014  /  Business, Trade  /  2 Comments

According to Forbes Middle East’s counts, the total worth of the Egyptian Sawiris family is $13.2bn

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Ministry of Industry obliges governmental bodies to reduce electricity consumption by 20%

  /  April 14, 2014  /  Business  /  1 Comment

Industry minister says that starting next June, new air conditioning system will be adopted with the aim of rationing electricity consumption

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Egypt pound weakens at Central Bank’s dollar sale and on black market

  /  April 14, 2014  /  Business  /  No Comments

Reuters – The Egyptian pound weakened at a central bank dollar sale and on the black market on Monday, after hitting a six-month low last week. The central bank said it sold dollars at a read the rest…

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9,125 residential units constructed in Beheira: Minister of Housing

  /  April 14, 2014  /  Business  /  2 Comments

Ministry of Housing implementing low-middle income housing projects across Egypt

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Arabia Group investing in 1m square metre project in Sinai: Chairman

  /  April 14, 2014  /  Business, interviews  /  1 Comment

Tarek Shoukry believes the prices of the property units by around 25%.

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Egypt looking to revitalise economic relations with US: Industry minister

  /  April 14, 2014  /  Business, Economy  /  4 Comments

Government plans to adopt measures to attract foreign and domestic investments, says minister

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Israeli gas holds promise of better ties with neighbours

  /  April 14, 2014  /  Business, Economy  /  2 Comments

Israel in talks with Egypt, Turkey on major gas export deals

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50% of Egyptians ineligible to benefit from social housing programme: EIPR

  /  April 13, 2014  /  Business  /  3 Comments

Government minimum income regulations exclude poorest categories of Egyptians, but include the middle, upper middle and rich classes

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Deloitte Middle East ranks Egypt 84th for social progress

  /  April 13, 2014  /  Business  /  1 Comment

The 2014 Social Progress Index ranks 132 countries based on their social and environmental performance

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PM seeks investors for power plant in Red Sea Governorate

  /  April 13, 2014  /  Business  /  1 Comment

Prime Minister attempts to find fast and unconventional solutions to address energy shortages

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Preventing summer blackouts in Egypt is ‘impossible’: Minister

  /  April 13, 2014  /  Business  /  2 Comments

Summer blackouts have hit Egypt in the past few years as successive governments have failed to develop a sound strategy

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150 loaves of bread per month, per citizen under new subsidy plan: Supply minister

  /  April 13, 2014  /  Business  /  1 Comment

New automated bakery launched in Port Said

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Despite suffering economy, Egyptians remain optimistic: Bayt.com survey

  /  April 13, 2014  /  Business  /  2 Comments

52% of Egyptians believe the economy has declined in the last 6 months, yet 37% still expect their personal financial situation to improve in the next 6 months, Bayt.com and YouGov report

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Egypt imports 230,000 tons of wheat from Russia, Ukraine and Romania

  /  April 13, 2014  /  Business  /  3 Comments

Minister of Supply says current wheat supply is sufficient until mid-June

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96,139 job opportunities generated during the last month: Minister of Industry

  /  April 13, 2014  /  Business  /  2 Comments

Number of applicants fewer than job opportunities provided, executive director of Industrial Training Council says

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IMF no longer forces ‘structural adjustment’: Lagarde

  /  April 13, 2014  /  Business  /  1 Comment

The crisis lender is sensitive to charges it dictates socially and economically harsh reforms on countries availing themselves of its support.

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