FINANCE & ECONOMY

14 Oct 2017

Egyptian military breaks into movie business

Egyptian movie theaters have been buzzing with movies promoting the role of military and security forces. Since Sept. 28, the crew of 'Serry Lilghaya' ('Top Secret') has been working hard to finish shooting and get the movie to theaters for the school mid-term vacation at the end of January 2018. The film depicts developments in Egyptian society from Jan. 25, 2011, until June 30, 2013, when former President Mohammed Morsi and the Muslim Brotherhood regime were toppled. The film also focuses on the role of the military in......

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14 Oct 2017

Egypt Extends State of Emergency for Three Months

Egyptian President Abdel Fattah el-Sisi has issued an order extending the state of emergency for another three months, starting Friday.

The decision, which was published in the Official Gazette on Thursday, stated:"...

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14 Oct 2017

Uber unveils $20m investment in Egypt

Uber is aiming its next investment at Egypt and will reportedly invest $20 million in a support centre in the capital Cairo in a bid to reiterate its commitment to Egypt as the country goes through turbulent economic times. Uber unveiled its new Cairo Centre of Excellence earlier this week and revealed it would spend $20 million on the centre over the next five years as it enhances its influence in the region. The American company currently employs 60,000 drivers in Egypt with two million Egyptians signed up on the Uber app. Questions......

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14 Oct 2017

China back in ‘New Cairo’ mega-scheme with $3bn deal

State-owned giant China State Construction Engineering Corporation (CSCEC) has re-entered Egypt’s huge project to build a brand new capital after signing a $3bn deal this week to build a central business district there featuring Africa’s tallest building.

The"...

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14 Oct 2017

Egypt non-oil exports increase 11% in first 8 months of 2017

Egyptian Minister of Commerce and Industry Tarek Kabil said that the country’s non-petroleum industrial exports have made “remarkable progress” between January to August this year, increasing 11 percent from $13.5 billion to $15 billion.

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14 Oct 2017

Egypt and India continue supporting Russian milling wheat market

The Russian milling wheat market featured mixed price trends this past week. Export prices for Russian milling wheat with 12.5% protein flattened out within the previous week’s range of $193‑196/MT FOB Novorossiysk port for October-November delivery. At the same time, prices for"...

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14 Oct 2017

Smithsonian's Freer and Sackler Galleries reopen after $13.6m renovation

The Freer Gallery of Art and the Arthur M. Sackler Gallery on the National Mall in Washington, DC—the Smithsonian Institution’s museums of Asian art—are reopening their doors on 14 October after a $13.6m makeover lasting nearly two years.

Supported"...

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14 Oct 2017

Egyptian tourism authority signs deal with Italian tourism federation for promotional campaign

Egypt's General Authority for Tourism Development and Italian tourism federation Fiavet announced a strategic partnership on Friday that will see a six-month promotional campaign involving a thousand Italian tourism companies, according to a tourirsm ministry statement.

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14 Oct 2017

With imports and deficit down, are things looking up for Egypt?

Declining imports have become a cornerstone of Egypt’s monetary and economic policy. As a result, economic and financial institutions have more trust in Egypt’s ability to pay down the debt it has accumulated since the end of 2016 and early 2017.

In"...

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14 Oct 2017

Bank of America Reports Third-Quarter 2017 Financial Results

Bank of America reported its third-quarter 2017 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

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