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Al-Ahram Weekly
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Economy
11/26/2024 10:13:18 PM
While challenges remain, the privatisation of the United Bank could set a positive precedent for future reforms.
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Business
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Economy
11/12/2024 5:30:20 PM
The United Bank (UB) is aiming to raise between EGP 4.16 billion and EGP 5.14 billion in the upcoming initial public offering (IPO) on the Egyptian Exchange (EGX), according to a release published on the UB's website on Monday.
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Business
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Markets & Companies
8/18/2024 4:08:10 PM
Khaled Abbas, the chairman of the board of directors of Administrative Capital for Urban Development (ACUD), announced on Thursday that the company achieved a total profit of EGP26 billion, resulting in a net profit of EGP17 billion after excluding taxes.
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Business
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Economy
8/6/2024 8:37:06 PM
Minister of Finance Ahmed Kouchouk said Tuesday Egypt is targeting $2 to 2.5 billion from the Initial Public Offering (IPO) program for state-owned companies through the FY2024/2025.
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Business
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Energy
7/10/2024 3:24:16 PM
Saudi Aramco netted $12.35 billion, $1 billion more than expected, from a secondary share sale after exercising an over-allotment option, the deal's stabilising manager said on Wednesday.
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Business
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Economy
6/30/2024 8:47:27 PM
Ayman Soliman, the CEO of The Sovereign Fund of Egypt (TSFE), has hinted at the relaunch of the country's Initial Public Offering (IPO) program in October.
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Business
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Energy
6/9/2024 1:17:06 PM
Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold in its latest offering, which was set to raise $11.2 billion.
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Business
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Energy
6/7/2024 1:37:54 PM
Saudi oil giant Aramco on Friday said it would price its secondary offering at 27.25 Saudi riyals ($7.27) per share, in the lower end of its range, allowing it to raise $11.2 billion.
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Business
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Economy
5/2/2024 4:43:09 PM
Egypt has decided to apply the capital gains tax on shares and stakes listed in the Egyptian Stock Exchange (EGX) starting from the tax season of March/April 2025, through the Egyptian Clearing Company for 2024, the cabinet announced on Wednesday.
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Business
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Economy
5/1/2024 6:06:15 PM
The Administrative Capital for Urban Development (ACUD) is scheduled to name an international initial public offering (IPO) advisor during the third quarter of 2024 (July-September), company CEO Khaled Abbas told CNBC on Wednesday.
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Business
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Economy
2/11/2024 6:16:48 PM
The International Monetary Fund (IMF) will announce the outcomes of the ongoing negotiations with Egypt within the upcoming few weeks, the Managing Director of the IMF, Kristalina Georgieva, said on Sunday.
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Business
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Economy
2/6/2024 1:15:14 PM
The Egyptian government is keen to further its cooperation with the World Bank in managing state-owned companies and enhancing their efficiency, Prime Minister Mostafa Madbouly said in a meeting with officials from the bank on Monday.
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Business
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Economy
1/14/2024 8:56:58 PM
Egypt's Initial Public Offering (IPO) programme, which commenced in February 2023, has attracted $3.5 billion in investments so far, Minister of Finance Mohamed Maait said on Sunday.
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Business
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Economy
1/14/2024 12:04:53 PM
Minister of International Cooperation Rania Al-Mashat held a meeting with President of the World Bank Group (WBG) Ajay Banga to discuss future cooperation and the bank's role in enhancing Egypt’s private sector involvement in the economy, according to a cabinet statement on Saturday.
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Business
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Economy
1/9/2024 9:24:28 PM
A high-level delegation from the Egyptian government has arrived in Washington DC to push forward Egypt's almost standstill loan programme with the International Monetary Fund (IMF), in addition to exploring a new additional loan for the country amid its ongoing serious economic situation.
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Business
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Economy
1/7/2024 7:17:41 PM
The National Bank of Egypt (NBE) and Banque Misr expect to collect over EGP 500 billion in proceeds through January from their newly introduced certificates of deposit (CDs), Mohamed El-Etreby, head of Banque Misr and chairman of the Federation of Egyptian Banks (FEB), said on Saturday.
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Business
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Economy
1/4/2024 8:19:22 PM
A mission from the International Monetary Fund (IMF) would probably visit Cairo in January to finalize a new time frame for the loan agreement with Egypt, said Cabinet Spokesperson Mohamed El-Hommosani during a phone call with Ala Mas’ouliati TV show on Wednesday.
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Business
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Economy
12/31/2023 6:51:35 PM
Egyptian President Abdel-Fattah El-Sisi has directed to intensify efforts to attract more foreign investments and enhance the role of the private sector in the country's economy, according to an official statement released on Sunday.
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Business
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Economy
12/20/2023 9:20:11 PM
Egyptian leading real estate developer Talaat Mostafa Group (TMG) announced that its hotel arm, ICON, has finalized an $882 million deal to acquire a 39 percent stake in Legacy Hotels, which owns seven historical state-owned hotels, TMG’s Chairman Hisham Talaat Mostafa stated in a press conference on Wednesday.
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Business
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Economy
12/20/2023 6:30:03 PM
Egypt has secured $5.6 billion from the partial and full sale of stakes in 14 state-owned companies, Prime Minister Mostafa Madbouly stated in a press conference on Wednesday.
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