Spare-Parts News
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Egypt signs $600 mn deal with Chinese company to upgrade railway
Large percentage of Egypt's railway system is outdated.
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Egypt’s government starts annual purchase of local wheat
The world’s largest wheat importer needs around 9.5 million tonnes of wheat to produce subsidised bread, the main staple food for Egyptians.
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IFC plans up to $2 bln investment in Egyptian infrastructure, power
IFC plans to contribute between $300 million and $500 million per year over the next four years in different sectors, but mainly infrastructure and energy.
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Egypt-based Sawari Ventures to close $50 mln fund to new investors by year-end
The fund opened last month at an international investment conference in the Red Sea resort of Sharm el-Sheikh where Egypt signed deals worth $36 billion.
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Imports of Ramadan lanterns banned: Abdel Nour
Good step for protecting local industry, but merchants who already placed orders for lanterns from abroad will be harmed due to this abrupt decision, says a Cairo Chamber of Commerce board member.
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World Bank approves $400 mn for two Egyptian social schemes
Takaful (Solidarity) and Karama (Dignity) target impoverished families to help with youth education and the elderly respectively.
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Annual inflation jumps to 11.8% in March
CAPMAS attributed the rise to increase in food commodities’ and beverage products’ prices by 9.3%.
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Moody’s expects Egypt economy to grow 4.5% by June 2015: Finance Minister
Non-banking financial activities witnessed significant growth last year, 2015 indicators are promising, says Mehleb.
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U.S. considering major arms sales to Egypt, Pakistan
The deal includes 356 R-variant Hellfire II missiles and associated equipment, parts and training.
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Egypt's foreign reserves fall to $15.291 bln - c. bank
Reserves stood at about $36 billion before the 2011 revolt.
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Moody's upgrades Egypt's credit rating to B3
Egypt’s GDP grew 5.6 percent in the first half of the current fiscal year.
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Kuwait fund to lend Egypt $1.5 bln over next five years
The fund is the Kuwaiti government's agency for aiding developing countries in areas such as agriculture, transport and energy.
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Egypt's CIB board asks management to consider making offer for Citigroup retail ops
CIB said last month that Citigroup had opened its books for a due diligence process.
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Egypt to receive Gulf deposits in two weeks: Minister
Egypt's net international reserves stood at $15.5 billion at the end of February.
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Egypt’s budget deficit up 50.5 percent
The deficit reached LE 186BN during July-February 2014/2015, compared to LE123.6 billion during July-February 2013/2014.
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Egypt’s non-oil private sector remains in contraction in March: HSBC
HSBC released a survey on Sunday and the outlook is negative.
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Four Egyptian alliances participate in Tanweer initiative
The EGP 300m worth initiative aims to provide computers to teachers and employees of the ministry of education as a first phase.
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Eitesal SMEs plan to conquer Arab markets
ICT sector contributed EGP 66bn to Egypt's GNP in 2014.
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Egypt to begin LNG imports as floating terminal arrives
Hoegh signed a five-year contract with Egypt in November 2014 to provide the import terminal and the country has since agreed to a number of LNG import deals.
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Obama Ends Freeze On U.S. Military Aid To Egypt
Obama directed the release of 12 Lockheed Martin F-16 aircraft, 20 Boeing Harpoon missiles, and up to 125 M1A1 Abrams tank kits to Egypt.