Business

Official: Tourism should recover in 2013

Official: Tourism should recover in 2013

Egypt received 11 million tourists in 2012 and aims to boost that number to 14 million in 2013. Tourism Ministry…
Sawiris’ OCI looks to move outside Egypt, and its stocks may follow

Sawiris’ OCI looks to move outside Egypt, and its stocks may follow

Orascom and a group of American investors, among them Microsoft giant Bill Gates, have set into motion a transaction set…
Finance minister: economic reform provides state budget with LE31.2 billion

Finance minister: economic reform provides state budget with LE31.2 billion

Finance Minister Morsy Hegazy said that with the government’s economic reform program the Egyptian economy will be able to overcome…
Central bank offers $75 mn at currency auction

Central bank offers $75 mn at currency auction

The Central Bank of Egypt offered $75 million to banks on Thursday at its 11th foreign currency auction, the same…
Egypt, Qatar ministers continue talks on investment projects

Egypt, Qatar ministers continue talks on investment projects

The Qatari Finance Minister Youssef Hussein Kamal met with Egyptian Minister of Investment Osama Saleh on Thursday to discuss joint…
Central Bank: US$5 bn in foreign investments left Egypt in six months

Central Bank: US$5 bn in foreign investments left Egypt in six months

A total of US$5 billion in foreign investments left Egypt during the last six months, the Central Bank of Egypt…
Cabinet approves Islamic bonds draft law

Cabinet approves Islamic bonds draft law

The Cabinet approved a draft law on Islamic bonds after it was approved by other institutions, Finance Minister Morsy Hegazy…
Qatari PM says won’t let Egypt go bankrupt

Qatari PM says won’t let Egypt go bankrupt

Qatar's prime minister said on Tuesday his country would stand by Egypt and did not want to see it go…
UK delegation assures return of Mubarak assets, denies inaction

UK delegation assures return of Mubarak assets, denies inaction

A delegation of high-level UK officials are in Cairo this week to discuss the return of assets obtained illegally by…
World Bank appoints new Egypt country director

World Bank appoints new Egypt country director

The World Bank has appointed a new country director for Egypt, Yemen and Djibouti. Hartwig Schafer, the new director, will…
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