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Back to blackouts

  /  May 20, 2013  /  Business, Economy  /  1 Comment

Blackouts return to Cairo with overloaded summer electric consumption; Ministries collaborate on means of rationalization

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Court postpones Omar Effendi case to 16 June

  /  May 20, 2013  /  Business, Economy  /  No Comments

Iconic department store’s sale to Saudi businessman had been invalidated because of unfair sale price

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Disapproval over increased taxes on bank loan loss provisions

  /  May 20, 2013  /  Business, Economy  /  No Comments

Banking figures dissatisfied with Shura Council’s decision to raise taxes on loan loss provisions, likely to affect investments

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Govt pays EGP 2.6bn in medical bills

  /  May 20, 2013  /  Business, Economy  /  No Comments

Cost of government-funded medical treatment for Egyptians living at home and abroad totals EGP 2.6bn in 2012

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Finance Ministry to reassess taxes on hotels and resorts

  /  May 20, 2013  /  Business, Economy  /  1 Comment

Egypt’s Finance Ministry rules that real estate taxes for hotels will now be determined by their “market replacement value”

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Pharmacist union predicts shortages of imported medicine to reach 90%

  /  May 20, 2013  /  Business, Economy  /  No Comments

Shortages in coming year expected because of increases in the price of the dollar

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Turkey pumps $250m more in its credit line to Egypt

  /  May 20, 2013  /  Business, Economy  /  No Comments

Experts: Good step, but no impact on cash reserves

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Information Technology growth goal

  /  May 20, 2013  /  Business, Economy  /  2 Comments

Minister of Communications Atif Halmi says government seeks 10% growth in IT sector by end of fiscal year

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Egypt’s top companies: the Power 34

  /  May 20, 2013  /  Business, Economy  /  No Comments

Forbes Middle East published its Power 500 list, giving an account of the region’s top 500 companies, and Egypt scored 34 times

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New real estate construction in 6th of October City

  /  May 19, 2013  /  Business, Economy  /  No Comments

Wadi El Nile Company for Agricultural Development to begin real estate project on 922 acres of land

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French oil company buys Shell’s fuel network in Egypt

  /  May 19, 2013  /  Business, Economy  /  No Comments

The details of the transaction and its price have not been disclosed.

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Egypt and Saudi plug into joint power line project

  /  May 19, 2013  /  Business, Economy  /  No Comments

Agreement expected in the coming week

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Qatar gas deal postponed

  /  May 19, 2013  /  Business, Economy  /  No Comments

Natural gas import agreement between Egypt and Qatar delayed because of “unresolved legal details”

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Egyptian pound slumps to seven against US dollar

  /  May 19, 2013  /  Business, Economy  /  3 Comments

Egypt’s currency continues to devalue despite attempts by Central Bank to slow the decline with foreign currency auctions

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IMF: Tax reforms to increase Egypt’s GDP by 0.75%

  /  May 19, 2013  /  Business, Economy  /  No Comments

The IMF expected Egypt’s GDP to grow 2% over the next year as opposed to 2.2% in 2012

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Finance minister requests aid from Saudi Arabia

  /  May 19, 2013  /  Business, Economy  /  No Comments

Egypt asks for $500m in aid from Saudi Arabia to support its national budget

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Egyptian foreign debt increases by $8bn

  /  May 18, 2013  /  Business, Economy  /  No Comments

Internal debts hit an alarming EGP 1.4tn, equivalent to about $200bn.

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Egypt: International banks eyeing long-term growth

  /  May 18, 2013  /  Business, Economy  /  No Comments

Egypt’s market is also attracting attention from Gulf banks

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Digitised database will exclude 1.5 million from receiving subsidies: Ouda

  /  May 18, 2013  /  Business, Economy  /  No Comments

Minister of Supply and Internal Trade expects 1.5 million citizens to be excluded from receiving subsidies after overhaul of statistics database system

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Morsi: No more wheat imports within four years

  /  May 18, 2013  /  Business, Economy  /  1 Comment

Morsi pointed that the primary goal is to stop importing wheat in four years.

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