Tuesday 21 October 2014
 
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Egypt

Egyptian developer Sodic to invest $336m in 2015

Sodic, one of Egypt's largest listed real estate developers, plans to invest E£2.4 billion ($336 million) in 2015 and is on the look out for new projects as the sector recovers from three years of turmoil, its managing director said.

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Egypt signs deals with six firms to dredge new Suez Canal

Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's programme to revive an economy battered by years of political turmoil.

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Egypt govt agrees plan to allow rice exports

Egypt's government has approved plans to allow rice exports, the supplies minister said on Thursday in a move welcomed by traders but carrying terms which could hinder the return of the country's medium-grain rice to the international ma

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Apache expects higher gas prices in Egypt by year-end

US oil and gas producer Apache Corp, one of the largest foreign investors in Egypt, hopes to reach an agreement with Cairo on higher gas prices by the end of the year and is encouraged by what it considers greater government transparency.

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Egypt imposes temporary steel tariffs

Egypt has imposed temporary tariffs to protect domestic steel rebar manufacturers from cheap foreign imports amid a long-running local energy crunch that has hit power-hungry heavy industry. The 7.3 per cent tariffs will last for

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Egypt GDP growth rate up to 3.7pc in fiscal Q4

Egypt's GDP growth rate rose in the fourth quarter of fiscal 2013/14 to 3.7 per cent, up from 2.5 per cent, the government said, in the latest sign that confidence is returning to an economy battered by three years of political turmoil.

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Steigenberger expands its presence in Egypt

The Frankfurt-based Steigenberger Hotel Group will bring its top-end German hotel experience to Egypt beginning with the existing Cecil Hotel in Alexandria coming under its management with immediate effect. Additionally, the Hotel Tahri

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Egypt says paid back $500m to Qatar

Egypt has paid back $500 million to Qatar and will soon return the remainder of the money the Gulf state deposited into the Egyptian central bank after the 2011 revolution, the bank's governor said on Saturday. Qatar helped pr

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Egypt consumer inflation fell to 11.1pc in Sept

Egypt's annual urban consumer inflation fell to 11.1 percent in September from 11.5 percent in August, the official statistics agency CAPMAS said on Thursday. Egypt's economy has been in turmoil since a popular uprising ou

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Gulf Capital invests $25m in Egypt petroleum firm

Gulf Capital, one of the leading alternative asset managers in the Middle East, has completed a $25 million investment in Amak Group, a leading provider of petroleum services for the onshore and offshore sectors in Egypt. The inve

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