Thursday 24 April 2014
 
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Egypt

New Egypt law to lure investors may feed corruption

A new Egyptian law that prevents third parties from challenging contracts made with the government may encourage foreign investors but critics say it will increase scope for corruption. President Adly Mansour on Tuesday approved t

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Billions needed to upgrade Egypt's power grid

Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer.

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US to deliver 10 attack helicopters to Egypt

The US said on Tuesday it will deliver 10 Apache attack helicopters to Egypt, relaxing a partial suspension of aid imposed after Egypt's military ousted President Mohamed Mursi last year and cracked down violently on protesters.

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Egypt to lift natural gas prices for homes, businesses

Egypt plans to double the price of natural gas piped into some homes and businesses from next month, but the move will trim its huge fuel subsidy bill only slightly because few premises are connected to the gas network. Energy pri

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Sisi to face leftist in run for Egyptian presidency

The former army general who toppled Egypt's first freely elected president will face a leftist politician in next month's presidential election, as they were the only candidates to enter, the committee organising the vote said.

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Suez Canal March revenues rise 8.5pc

Revenue from Egypt's Suez Canal rose 8.5 percent to $441.9 million in March from $407.4 million in the same month a year ago, Egypt's state information portal said. February revenues stood at $339.3 million, the lowest in

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Egypt central bank 'to keep interest rates on hold'

Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed.

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Egypt tourism revenue drops 43pc in Q1

Egypt's tourism revenues dropped 43 percent in the first quarter of 2014 to $1.3 billion, Adela Ragab, the country's economic adviser to the Minister of Tourism, told Reuters on Wednesday. The tourism sector, which has bee

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Egypt's TMG to distribute first cash dividend

Egyptian property developer Talaat Moustafa Group (TMG) will distribute a cash dividend of around 0.145 Egyptian pound ($0.02) after profits grew in 2013, the company said on Tuesday.   The payment, TMG's fir

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Egypt's Arabian Cement plans IPO

Egypt's Arabian Cement Company plans to hold international presentations from next week aimed at attracting investors to a stock market debut that would be the first in Cairo since the fall of autocrat Hosni Mubarak in 2011. C

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