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Business
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Economy
11/30/2023 6:29:06 PM
The Egyptian government is wrapping up an initiative to sell real estate units in foreign currency to foreigners and expats to boost real estate exports and secure more hard currency amid a severe shortage in the US dollar supply.
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Business
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Economy
11/27/2023 6:39:26 PM
Egypt doesn’t collect the value-added tax (VAT) in foreign currency on imports but on goods and services that are typically paid for in foreign currency, said Minister of Finance Mohamed Maait on Monday, according to a Cabinet statement.
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Al-Ahram Weekly
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Economy
11/21/2023 8:59:23 PM
Sherine Abdel-Razek reports on developments that could improve foreign-currency flows to Egypt
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Business
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Markets & Companies
11/21/2023 3:47:18 PM
The Egyptian Exchange (EGX) indices end Tuesday slightly higher and the main index returned to a level near its all-time high. Gold prices surged and the 24-carat per-gram price hit a new peak at EGP 3,189.
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Business
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Markets & Companies
11/20/2023 4:10:18 PM
The Egyptian Exchange (EGX) ended in the red on Monday. Gold prices rose and the gold pound coin reached EGP 21,880 for purchase.
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Business
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Markets & Companies
11/19/2023 3:35:43 PM
The Egyptian Exchange (EGX) started the week by breaking records; the main index EGX30 ended at a new all-time high of nearly 24,900 points. Gold prices inched higher and the 24-carat gold reached EGP 3,109 per gram.
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Business
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Markets & Companies
11/15/2023 5:54:47 PM
The Egyptian Exchange (EGX) ended in the green on Wednesday with the EGX30 approaching its historic high, while gold prices jumped and the 24-carat gold hit a new summit at EGP 3,109 per gram.
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Business
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Markets & Companies
11/13/2023 3:29:25 PM
The Egyptian Exchange (EGX) indices ended in the green on Monday after achieving mixed performance yesterday. Gold prices rose and the 24-carat gram returned to EGP 3,000.
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Business
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Economy
11/13/2023 12:43:33 PM
The Egyptian cabinet announced that it will hold a press conference soon to provide updates on the government IPO programme and future planning, said Prime Minister Mostafa Madbouly according to a statement.
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Business
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Economy
11/8/2023 9:04:01 PM
Egypt seeks to collect additional revenue of EGP 70 billion ($2.27 billion) from its privatization programme during the fiscal year (FY) 2023/2024, according to a recent book released by the Cabinet’s Information and Decision Support Center (IDSC) on Wednesday.
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Al-Ahram Weekly
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Opinion
11/7/2023 6:41:13 PM
Gamal Wagdy suggests a rescue operation for the pound
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Business
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Economy
10/11/2023 10:39:50 PM
Major credit rating agency Moody’s downgraded the ratings of five key Egyptian state-owned and private banks to CAA1 and B3.
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Business
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Economy
10/9/2023 8:44:14 PM
Several local banks suspended on Monday hard currency cash withdrawals and purchases made outside Egypt using debit cards, as per instructions from the Central Bank of Egypt (CBE) to reduce pressure on foreign currency reserves, an informed source told Ahram Online.
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Business
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Economy
10/8/2023 8:39:57 PM
Some Egyptian banks have set new limits for using their cards abroad to curb abusive practices that drain the country’s foreign currency reserves.
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Egypt
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Tourism
10/5/2023 4:58:14 PM
Egypt’s tourism revenues hit a record high of $13.6 billion in FY2022/2023, up by 26.8 percent from $10.7 billion in FY2021/2022, the Central Bank of Egypt (CBE) reported on Wednesday.
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Business
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Economy
10/4/2023 5:41:55 PM
Net International Reserves (NIRs) at the Central Bank of Egypt (CBE) reached $34.97 billion in September, the highest level in 16 months, according to data released on Wednesday.
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Business
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Economy
10/3/2023 5:35:51 PM
HSBC Egypt has decreased the limit on monthly cash withdrawals made abroad from $1500 to $1000 or its equivalent in other currencies.
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Business
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Economy
10/3/2023 3:09:39 PM
Egypt has released $53.7 billion worth of imported goods from ports between 1 January and 30 September, said Sameh El-Kheshen, the Egyptian Cabinet spokesperson, in a statement on Tuesday.
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Business
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Economy
9/4/2023 3:17:46 PM
Capital Intelligence (CI) Ratings has lowered Egypt’s long-term foreign and local currency ratings to B from B+, revising the outlook to stable from negative, according to a statement.
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Business
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Markets & Companies
8/29/2023 3:54:16 PM
The Egyptian Exchange (EGX) kept its positive track for the third consecutive day, and the main index, EGX, reached a new high at over 18,620 points on Tuesday. Gold, on the other hand, maintained its downward trajectory.
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