Business

Senior Iranian diplomat plays down trade agreements, highlights industry-specific assistance

Senior Iranian diplomat plays down trade agreements, highlights industry-specific assistance

Hassan Kazemi, Iran’s assistant foreign minister for economic affairs, said that his country is open to a free trade zone…
In sukkuk, govt sees a solution to economic crisis

In sukkuk, govt sees a solution to economic crisis

  Prime Minister Hashem Qandil announced last month his government’s intention to issue one or two rounds of sukuk, a…
Antiquated rental law distorts housing market

Antiquated rental law distorts housing market

In the upscale neighborhood of Abbas al-Akkad in Nasr City, Amr Hegazy owns a five-story building surrounded by prominent restaurants. Passing…
Up against a fiscal wall, government courts foreign investment

Up against a fiscal wall, government courts foreign investment

Officials are making a concerted effort to assure foreign and domestic investors that the climate for business is safe and…
Serious govt action needed on economy, experts say

Serious govt action needed on economy, experts say

The government needs to do more to further encourage foreign investment and face its own growing budget deficit soon, or…
Islamic Development Bank to lend Egypt US$330 million

Islamic Development Bank to lend Egypt US$330 million

Several local and regional banks are preparing to give the Egyptian government a US$330 million loan, in the second portion…
Stock exchange rebounds after two sessions of decline

Stock exchange rebounds after two sessions of decline

The Egyptian Stock Exchange index rebounded strongly on Wednesday after two sessions of declines as positive sentiment generated by government…
Presidency outlines progress on bread reforms

Presidency outlines progress on bread reforms

Bread subsidies have cost LE16 billion during the current fiscal year 2012/13, the presidency said in a report Wednesday. A…
Barclays Bank Egypt mulls Islamic services

Barclays Bank Egypt mulls Islamic services

Barclays Bank Egypt is considering introducing some Islamic banking services in the local market in the near future, capitalizing on…
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