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Foreign partners demand government repays dues before increasing investments

Foreign companies operating in the oil sector have linked increasing their investments to their payment from the Egyptian government, in light of the government’s failure to keep to the repayment schedule that was previously agreed upon. According to an official at one of these foreign companies, the Egyptian government has no choice but to pay …

Mohamed Adel

EGP 135bn spent on subsidies for current fiscal year

By the end of the current fiscal year the amount spent on subsidies will reach approximately EGP 135bn, compared to the EGP 129 billion spent the previous year, according to Al Al-Mula. Petroleum Minister Sherif Ismail predicted that subsidies for petroleum products for the coming fiscal year will reach about EGP 140bn in case prices …

Daily News Egypt

Petroleum ministry prepares bourse listing of new petrochemicals companies

By Muhammad Adel After amending the listing rules of companies in the Egyptian stock exchange, the Ministry of Petroleum is preparing an initial public offering (IPO) of new petrochemicals companies, said Samir Azer undersecretary of the Ministry of Finance. Following a meeting between Minister of Petroleum Sherif Ismail and chairman of EGX Mohamed Omran, the …

Daily News Egypt

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