31 Oct 2012
It began with a remark in a speech by President Mohamed Morsy at a celebration commemorating the October War. In the speech, Morsy said that authorities were investigating a series of unnamed companies which were engaging in corrupt...
27 Oct 2012
The economic stagnation of the past year and a half has taken a toll on many businesses, but a fleet of Islamic investment banks in Egypt sees opportunity in the new emerging order.
Ridge Islamic Capital, one such investment bank, has...
22 Oct 2012
It’s no secret that Egypt’s current government is having trouble financing its spending. But the government’s troubles reflect a greater problem that encompasses the entire economy.
In the past two years, the country...
19 Oct 2012
As Egypt struggles to emerge from a period of deep financial uncertainty, government officials are looking towards the country’s vital shipping artery — the Suez Canal — as a major source of revenue and jobs. ...
17 Oct 2012
At the dead end of a winding side street in the central Cairo neighborhood of Sayeda Zeinab, Ashraf al-Husseini sat in front of the government-subsidized bakery that his family has been operating for nearly 50 years.
In this neighborhood,...
16 Oct 2012
The call center industry was one of the trademarks of Egypt's development strategy throughout the 2000s. Experts pointed to it as the poster-child for the country's expansion opportunities in the tech and communications industries...
15 Oct 2012
The government will not raise taxes but will instead rely on foreign investment to remedy the country’s cash flow problem, Prime Minister Hesham Qandil said during a meeting with a group of foreign investors.
But with foreign...
12 Oct 2012
Prime Minister Hashem Qandil announced last month his government’s intention to issue one or two rounds of sukuk, a type of Islamic financial product, before the end of 2012.
He offered few particulars, but the reaction of the...
12 Oct 2012
In the upscale neighborhood of Abbas al-Akkad in Nasr City, Amr Hegazy owns a five-story building surrounded by prominent restaurants. Passing by the building situated on a tree-lined street, one may speculate that Hegazy makes at...
11 Oct 2012
Officials are making a concerted effort to assure foreign and domestic investors that the climate for business is safe and friendly after the stock market took a hit Monday due to some tough rhetoric on corporate corruption from President...