Sunday 14 February 2016
 
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Egypt

Egypt's CIB to raise up to $1bn to fund growth

Commercial International Bank (CIB) will raise up to EGP8 billion ($1 billion) to fund expansion after its board backed the plan, Egypt's largest listed company said. The funds will be raised through local or international bon

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Bourses join global market rout; Egypt tumbles 2.8pc

Stock markets in the Middle East fell on Tuesday, erasing the prior session's gains, as risk appetite diminished following a slump in global shares. Egypt's main index tumbled 2.8 per cent to 6,004 points, erasing the prio

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Siemens renews service deal for Egypt power plants

Siemens has extended a long-term contract to provide service and maintenance, as well as component upgrades, at the Nubaria, Talkha and El Kureimat power stations in Egypt. The agreement was signed under the supervision of Egyptia

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Siemens renews service deal for Egypt power plants

Siemens has extended a long-term contract to provide service and maintenance, as well as component upgrades, at the Nubaria, Talkha and El Kureimat power stations in Egypt. The agreement was signed under the supervision of Egyptia

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Egypt cancels temporary tariff on sugar imports

Egypt is cancelling a temporary tariff levied on sugar imports in 2015 after completing an investigation into possible dumping of the commodity, the ministry of trade said. Egypt said in April it would impose a 20 percent tariff o

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GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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Egypt’s solar investors to issue services tender

Investors in Egypt’s solar energy sector will float tenders in the next few days to invite bids to provide security, technical, and administrative services for the projects in Benban area, a report said. Mohamed El-Sobky, ch

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Egypt to set budget at devalued exchange rate

Egypt is drafting its 2016-2017 budget on the basis of an exchange rate of EGP8.25 to the dollar compared to EGP7.75 this fiscal year, two government sources said on Monday, indicating the central bank is preparing to devalue. Egy

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Egypt's Palm Hills profit soars to $131m

Palm Hills, Egypt's second-largest listed property developer, reported on Sunday a 128 per cent rise in fourth-quarter net profits to E£203.5 million ($25.99 million) from E£89.2 million in the same period last year.

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