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Reuters – Egypt’s bourse surged on Sunday to a new 65-month high and crossed a key psychological level as improving financial outlook lifted sentiment, while Gulf shares were mixed. Cairo’s EFG-Hermes surged 6.9% to its highest since March 2012 in a delayed reaction to the improved outlook in its asset management business. The firm said …
By John Wasik Since the beginning of the year, emerging markets have been like cats on a hot tin roof. Hot money is skittering out of foreign markets as countries from Argentina to Turkey have been clawed by economic and political turmoil. But even with heightened concerns about the prospects of developing countries, emerging markets …
Four hundred fuel stations are functioning with the electronic system for petrol distribution
The Doctors’ Syndicate will hold an extraordinary session of the general assembly within days
A brochure distributed by the minister details steps needed when deciding bonus recipients
Reuters – Masraf Al Rayan, Qatar’s largest sharia-compliant bank by market value, said on Thursday it had completed its acquisition of Islamic Bank of Britain (IBB). Al Rayan did not disclose the terms of the purchase. IBB was majority-owned by another Qatari lender, Qatar International Islamic Bank, which had been in discussions with Al Rayan over a sale since mid-2012. Al Rayan said in a bourse …
Gap between lowest and highest earning employees to be closed from 491% to 311%
EFG also said it had recently acquired a 65 percent stake in Credit Libanais as it seeks to expand into retail and commercial banking.
Doctors have been holding negotiations with the ministers of health and finance this week
Negotiations are expected to be completed by Tuesday
Developer to re-finance outstanding debts
A new protocol aims at helping touristic facilities adopt green energy practices
By Farah Halime Could Egypt’s economy be on the road to recovery? Some indicators suggest this might be the case. According to Reuters: Egyptian business activity shrank for the 13th month in a row in October but at a much slower rate, suggesting the economy may be improving after months of renewed political turmoil. The seasonally …
The International Finance Corporation is willing to finance public-private-partnerships centred on infrastructure, says regional director
Vice-President for the MENA region visits Egypt for the first time since 30 June
Since the eruption of an anti-regime revolt in March 2011, Syria’s pound has depreciated severely.
Amendments to property taxes receive approval from cabinet, awaiting presidential approval
Cameron will speak to more than 1,800 political and business leaders at the ninth World Islamic Economic Forum in London, the first held outside a Muslim country, as he attempts to build stronger financial links between Britain and the Islamic world.
Law would see 420% to 600% increase in monthly salaries for government employed medical professionals
Government intends to make several changes that will help cut down on customs evasions
Al Maktoum has renewed his country’s support of Egypt in order to face current challenges
Finance Minister: EGP 18bn is the cost of executing minimum income
The bad news for America’s worried friends is that new stalemates over budgets and borrowing are looming early next year.
Five main criteria were set to encourage exporting enterprises
By Farah Halime, Rebel Economy Questions were already being raised about Egypt’s new liberals and whether they really were as democratic as they claimed to be. But, as Sharif Abdel Kouddous wrote in the Nation recently, “the turning point came on August 14, when the military and security forces brutally cleared the two mass sit-ins in …
New amendments aim to accommodate latest economic and financial developments
Acting American ambassador says the United States is economically committed to Egypt
An additional 1,200 post offices have also begun taking part in the system, bringing the total number of participating payment stations to 4,520. He added that the system had been set up during July and August of last year.
Minister Ahmed Galal discussed in a conference call with EFG-Hermes the government’s plans to boost economy and encourage investors
The international company launches a €150m equity offering and a €300m convertible bond offering