Economy features

Is the Central Bank’s independence on the line?

Building of headquarters of Central Bank of Egypt in Downtown
23 Dec 2012
The Central Bank of Egypt has been making headlines recently, not least of which due to the dire state of the country’s foreign reserves and the looming currency devaluation. It’s the news of a possible change in the top post...
Yes

Draft constitution fails to protect economic rights, experts say

Residents of El Kom El Ahmar village, Shebin El Qanater, pushing each other while waiting for subsidised bread to come out of distribution unit (a bakery).
22 Dec 2012
In voting for or against the draft constitution this week, Egyptians are determining what principles will guide their leaders in governing the country’s already ailing economy in the coming period, and beyond. The draft, since it was...
Yes

Electricity price hikes a necessity, says official; but will hit poor the hardest

A file photo of electricity pylons.
21 Dec 2012
A recent government hike in electricity prices means Egyptians will soon be paying more to switch on a lamp or an air conditioner; a rise which will likely mean higher prices for many other goods and services. The price increase has been...
Yes

Fiscal fumbling: Tax law, IMF turmoil knocks economy off course

Egypt's President Mohamed Morsy speaks to the nation at Cairo stadium, 6 October 2012, to mark the anniversary of Egypt's successful crossing of the Suez Canal in its October 1973 war against Israel. Morsy said on Saturday he had fallen short of goals he promised to fulfil in his first 100 days in office, but aimed to assuage critics by highlighting his most prominent achievements.
12 Dec 2012
Egyptian officials have asked to postpone a request for a US$4.8 loan from the International Monetary Fund, loan officials said Tuesday, derailing a lengthy process of negotiating that began soon after the uprising against former President...
Yes

Africa rising: Can Egypt capitalize on its neighbors' growth?

06 Dec 2012
As Egypt struggles to recover from a period of political tumult and a two-year economic downturn, the country’s market officials are looking south and west to their rapidly growing African neighbors to inject new capital into the...
Yes

Egypt bourse to join new Pan-African Index

02 Dec 2012
Egypt’s listed companies will join the new Pan-African Index when it goes live Monday, which will encompass 19 stock exchanges from across the continent, according to Mohamed Omran, EGX chairman. The index launch will coincide with...
Yes

Economy’s fragile economic recovery shaken by unrest

01 Dec 2012
The doors and windows of the businesses that line Tahrir Square were shuttered again one morning last week, after nearly seven days of clashes between protesters and security forces downtown had killed at least three. On a street nearby,...
Yes

Egypt's economic reform plan: Revolutionary social justice, or more of the same?

Dozens of political activists taking part in protest against IMF loan, in front of Stock Exchange, Cairo, 29 August 2012.
29 Nov 2012
The details of a 10-year economic reform plan that officials say aims to make Egypt “a free and democratic civil state,” in which “all citizens enjoy human dignity,” were released by the Cabinet on Wednesday. The...
Yes

Egypt's renaissance bank account raises doubts

28 Nov 2012
During his visit to Assiut early this month, President Mohamed Morsy announced the opening of Egypt’s renaissance bank account, number 333/333, and called upon “repentant” businessmen to donate some of the money they...
Yes

Franchises are on the rise, despite a rough economy

24 Nov 2012
Egyptian shoppers are likely to see even more big-name brands gracing their malls and shopping centers in the coming years, as international and domestic franchises continue to spread during the country’s current economic slowdown....
Yes

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