Business

Egypt secures vital oil supplies for rest of year

Egypt secures vital oil supplies for rest of year

LONDON — Egypt has secured oil supplies for the rest of the year, despite fears about its ability to make…
State losing billions on energy subsidies, says minister

State losing billions on energy subsidies, says minister

The delay in implementing energy subsidy cuts is costing the state LE10 billion every three months, claimed Petroleum Minister Osama…
In Egypt’s gas industry, foreign investors rule

In Egypt’s gas industry, foreign investors rule

Since explorers first found natural gas beneath Egypt’s sand and water, the government has struggled to manage its relationship with…
Demand grows and inequalities widen in Egypt’s gas industry

Demand grows and inequalities widen in Egypt’s gas industry

The simple act of turning on a stove can mean two very different things for Egyptian families. In one case,…
Foreign reserves likely up US$300-400 mn, newspaper says

Foreign reserves likely up US$300-400 mn, newspaper says

Foreign reserves probably rose US$300 million to $400 million in October thanks to loans from Qatar and Turkey, state-run Al-Gomhurriya…
In economic flux, Islamic banking and finance are gaining ground

In economic flux, Islamic banking and finance are gaining ground

The economic stagnation of the past year and a half has taken a toll on many businesses, but a fleet…
IMF team to resume talks in Egypt next week

IMF team to resume talks in Egypt next week

An International Monetary Fund team will arrive in Cairo next week to resume discussions on a US$4.8 billion loan that…
Consumer confidence up since Morsy’s election

Consumer confidence up since Morsy’s election

Egyptian consumers have greater confidence, and are more likely to make durable goods purchases now than they were at the…
Egypt to import Algerian gas

Egypt to import Algerian gas

Prime Minister Hesham Qandil said on Wednesday that although Egypt is a producer and exporter of natural gas, it has…
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