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Patrick Werr

Egypt to press ahead with sale of stakes in state companies - govt adviser

Oct 17 2019

CAIRO, Oct 17 Egypt is fully committed to its programme to sell minority stakes in state companies and is tackling a number of issues that have held it up, a government advisor on the share sales said on Thursday.

Egypt eyes minority stake sales of state firms by end-Dec but doubts persist

Oct 10 2019

CAIRO, Oct 10 Egypt plans to sell minority stakes in two companies by year-end, ramping up its long-delayed privatisation programme though analysts doubt it is moving quickly enough to convince investors it is serious about opening up the economy.

UPDATE 2-Egypt's current account deficit widens in the last quarter of 2018/19

Sep 30 2019

CAIRO, Sept 30 Egypt's current account deficit widened in the April to June quarter of the 2018/19 fiscal year as imports surged and workers remittances fell, Reuters calculations based on full-year central bank data showed on Monday.

'Blindsided by the beauty': architects struggle to save Cairo's historic heart

Sep 11 2019

CAIRO Alaa al-Habashi was looking for ingredients for a Ramadan feast when he stumbled on an Ottoman-era mansion being used as a slaughterhouse and butcher's shop in Cairo's historic Islamic district.

Egypt's non-oil FDI dips to lowest since 2014

Jul 04 2019

CAIRO, July 4 Foreign direct investment (FDI) in Egypt's non-oil economy fell in the first three months of 2019 to its lowest for at least five years, underscoring the struggle to kindle confidence as a rigorous IMF programme draws to a close.

UPDATE 1-VEON settles Egypt tax liability, paving way to buy Global Telecom shares

Jun 26 2019

CAIRO, June 26 Telecoms operator VEON Ltd has settled a tax dispute with Egypt, the finance ministry said on Wednesday, clearing the way for its potential purchase of the 42.3% stake in its Egyptian subsidiary Global Telecom Holding it does not own.

Egypt's Tourah Cement stops production due to oversupply

Jun 17 2019

CAIRO, June 17 Egyptian cement maker Tourah Cement, a subsidiary of Germany's HeidelbergCement , says it has suspended production because of financial distress caused by oversupply in the Egyptian market and is considering liquidation.

Tourism, energy inflows boost Egypt's pound as most EM currencies struggle

May 23 2019

CAIRO, May 23 The Egyptian pound hit a two-year high on Thursday, bucking a downtrend among emerging market currencies with help from inflows in the tourism and energy sectors.

Gulf pledges offer scant reprieve for Sudan's economy

May 07 2019

CAIRO As wrangling over Sudan's political future drags on, its economy risks sinking further into disarray, with pledges of assistance from the Gulf expected to provide only short-term relief, say economists.

Egypt to turn to private sector to restore historic buildings

Apr 23 2019

CAIRO Egypt's government is drawing up a plan to turn over as many as 150 crumbling historic buildings to the private sector to refurbish and lease out for profit, the Minister of Public Enterprise said on Tuesday.

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