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The Central Bank of Egypt’s March decision to devaluate the Egyptian pound against the US dollar has caused prices to increase across the board, which includes staples such as tea, rice and cigarettes
Companies raised total of EGP 5bn
No one can control or monopolise the prices of vegetables because they have vulnerable expiration dates, says head of the FEDCOC
Egypt targets 20% growth in tourist numbers next winter, 15% next summer
Ministry of Tourism aims to increase sector’s income to $10bn by end of fiscal year 2014/2015, compared to $5.1bn last year
Prices rise to EGP 2, Al-Masry Al-Youm stays at EGP 1.5
New presidential decree amends law governing military retirement
An official source from a cement company who requested anonymity anticipated cement prices to increase in the coming days due to higher production costs.
Petroleum price increase to be announced unexpectedly to avoid black market fuel distribution, says EGPC official
Reuters – Egyptian property developer Talaat Moustafa posted a first-quarter profit after tax of EGP 160.8m ($23m) on Wednesday, up 15% from a year earlier, it said in an emailed statement. Revenues fell to EGP 1.14bn from EGP 1.52bn, it said.
Cabinet announces price hike in natural gas starting May; party wary the price hike will do little to help Egypt’s energy crisis
Reuters – National Commercial Bank, Saudi Arabia’s biggest bank by assets, plans to boost its capital by SAR 5bn ($1.3bn) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday. The announcement comes one month after the Saudi government said it planned to float 15% of the state-owned bank …
Investors seek the Egyptian bourse, leading liquidity to head to the stock market
Trading closes at 5,586.65, investor “selling appetite” said to be down
The value of the Egyptian pound recovers slightly after 2-week long depreciation.
CAMPAS indicated that most of the tourists who arrived to Egypt during April were from eastern Europe
The value of personal loans made in November 2012 increased by EGP 900m from the month of October. The total value of loans in local currency was EGP 111.2bn for the month of November 2012, as opposed to EGP 110.2bn in October 2012. During the same period, loans made in foreign currency increased from EGP …
The Ministry of Transport is studying the feasibility of raising the price of metro tickets by around a quarter. Currently EGP1, the new price would be between 125 to 150 piastres, Egyptian media has reported. Furthermore, the ministry is also considering cutting subsidies for public servants, students, the military and police. Egyptian media published contradictory …
Court reverses syndicate membership fee hike following protests by law graduates
The Central Agency for Public Mobilisation and Statistics (CAPMAS) released yesterday the latest figures on tourism during July showing an 8.3 percent increase in the number of tourists from around the globe from the same month last year. According to the latest CAPMAS tourism figures, up to one million tourists visited Egypt during July, compared …