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Business
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Economy
4/17/2024 12:30:02 PM
Egypt’s government plans to complete the privatization of the state-owned companies within a period of 3 to 5 years, Minister of Finance Mohamed Maait stated to Asharq News.
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Business
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Economy
3/5/2024 6:18:51 PM
The Egyptian government has taken steps to offer the management and operation of the country's airports to the private sector, according to a statement by the Cabinet on Monday.
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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
12/20/2023 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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Business
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Markets & Companies
12/18/2023 2:09:30 PM
Telecom Egypt (TE) has received multiple non-binding offers to buy its broadcasting towers, according to a bourse statement released on Monday.
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Business
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Economy
11/29/2023 2:44:10 PM
The European Bank for Reconstruction and Development (EBRD) is seeking the acquisition of minority stakes in state-owned financial institutions earmarked for privatization in Egypt, Heike Harmgart, head of EBRD's south- and east-Mediterranean operations, said on Tuesday.
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Business
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Markets & Companies
11/16/2023 9:55:02 PM
Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in the Egyptian state-owned company E-Finance For Digital and Financial Investments by 2 percent to 27 percent, according to the company’s Chairman and Managing Director Ibrahim Sarhan.
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Business
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Markets & Companies
11/16/2023 5:23:21 PM
The Egyptian Exchange (EGX) announced Thursday the acquisition of 30 percent of Egypt’s leading tobacco producer, Eastern Company, by Emirati company Global Holding for EGP 16.4 billion ($530.86 million).
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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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Business
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Economy
10/6/2023 12:27:14 PM
The government will offer shares in state-owned petrochemical companies and Wataniya fuel stations in the next two months, stated Minister of Petroleum and Mineral Resources Tarek El-Molla.
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Business
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Economy
9/21/2023 3:55:16 PM
Intesa Sanpaolo Group has started preliminary talks with the Egyptian government for a possible purchase of Alexbank’s 20% remaining stake, said Marco Rottigni, head of the International Subsidiary Banks Division.
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Business
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Economy
9/17/2023 8:06:55 PM
The times scheduled for the International Monetary Fund’s (IMF) reviews of the Egyptian economy for the $3 billion loan program with the fund are “tentative and not final," a high-level source familiar with the deal told Ahram Online.
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Business
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Markets & Companies
9/7/2023 9:51:24 PM
The Egyptian Exchange (EGX) indices reached unprecedented heights over the week ending on 7 September, supported by the recent announcement of the privatization of state assets.
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Business
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Economy
9/7/2023 9:50:35 PM
As the second review of the International Monetary Fund's (IMF) $3 billion loan agreement with Egypt draws nearer, many concerns are raised regarding the progress of the programme.
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Business
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Economy
8/21/2023 6:23:26 PM
The due diligence for the acquisition of the United Bank is scheduled to start by the end of September 2023, according to a statement by the Central Bank of Egypt (CBE) on Monday.
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Business
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Economy
7/11/2023 7:27:22 PM
Egypt has signed contracts with the private sector to sell state-owned entities worth $1.9 billion under the Initial Public Offering (IPO) programme which the country adopted earlier this year.
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Business
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Economy
7/10/2023 6:12:07 PM
Egypt’s Prime Minister Mostafa Madbouly will hold a press briefing on Tuesday to reveal the progress the government has made on its privatization programme, including the initial public offering (IPO) programme.
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Business
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Economy
6/19/2023 8:19:01 PM
The Egyptian government signed on Sunday an agreement with the International Financial Corporation (IFC), the financial arm of the World Bank, to provide advisory services for its initial public offerings (IPOs) programme for state-owned companies.
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Business
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Economy
6/18/2023 4:04:00 PM
Egypt has signed an agreement with the International Financial Corporation (IFC), the financial arm of the World Bank, to provide advisory services for Egypt's privatization programme.
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