Egypt’s business digest Oct. 16: Egypt exports 36K tons of propane gas worldwide by July 2016
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5.3% of Egyptians live in extreme poverty: CAPMAS

The Central Agency for Public Mobilisation and Statistics (CAPMAS) re-issued a 2005 survey study on poverty rate in Egypt, stating that 27.8 percent of the population are poor and 5.3 percent are living in extreme poverty.

The statement coincides the International Day for the Eradication of Poverty that is marked by the United Nations Oct. 17.

 

Egypt exports 36K tons of propane gas worldwide by July 2016

Egypt has exported 36,000 tons of propane gas to international market by the end of July 2016, Youm7 quoted an official report by the state-run Egyptian Natural Gas Holding Company “EGAS.”

 

EGX opens Sunday session at collective rise

The Egyptian Stock Exchange (EGX) has begun Sunday session at a collective rise to all indexes, Youm7 reported.

The main index EGX30 rose by 0.50 percent.

 

Vodafone Egypt and Etisalat request Egypt 4G licenses: regulator

Vodafone Egypt and Etisalat have requested fourth-generation mobile phone service licenses in Egypt, an official at the telecom regulator said on Saturday.

Egypt is selling four 4G licenses as part of a long-awaited plan to reform the telecoms sector and raise money for stretched government finances.

“Meetings are ongoing between the two companies and the regulator,” the official said.

The country’s three existing mobile phone operators – Orange, Vodafone and Etisalat – initially all turned down the 4G licenses saying the amount of spectrum on offer was not sufficient to allow them to offer the service efficiently.

The regulator then announced that operators that paid for the license entirely in dollars would be given priority in sales of additional spectrum. U.S. dollars are scarce in Egypt due to a long-running economic crisis.

Orange Egypt, a subsidiary of French telecoms group Orange, on Thursday signed a license deal, paying $484 million and receiving 10 megahertz of spectrum instead of the 7.5 initially on offer.

Telecom Egypt, the state’s fixed-line monopoly, was the only company to take up the original offer, buying a 4G license in August for 7.08 billion Egyptian pounds ($797 million) to enter the mobile market directly for the first time. The company later offered to buy additional spectrum not acquired by other operators.

The regulator said it would reconvene on Oct. 23 to discuss additional options for rolling out 4G services that include holding an international auction for the remaining license and selling additional frequency to Telecom Egypt.

Kuwait’s Zain, China Telecom, Saudi Telecom and Lebara KSA have all expressed interest in acquiring Egyptian 4G licenses if the established companies bow out.

Egypt needs hard currency after burning through its foreign exchange reserves as political turmoil hit foreign investment and tourism since the 2011 popular uprising that ousted former autocrat Hosni Mubarak from power.

 

Etisalat Misr signs 4G licence deal in Egypt for $535.5 mln

Etisalat Misr, the Egyptian unit of Etisalat, has signed a 4G licence agreement with Egypt’s telecoms regulator for $535.5 million, the regulator said in a statement on Sunday.

The company also signed a fixed line phone service licence for $11.26 million, the statement said.

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