Govt’s plan to reduce spending unfeasible, say experts
Business
January 9, 2012
Govt’s plan to reduce spending unfeasible, say experts
The government’s plan reduce spending to offset the budget deficit is unfeasible, conventional and bureaucratic, experts have said. The plan…
Law on maximum wages to become effective in February
Business
January 8, 2012
Law on maximum wages to become effective in February
The law on a maximum wage for the public sector is to become effective in the beginning of February, an…
Government divided over IMF loan
Business
January 3, 2012
Government divided over IMF loan
Government officials have issued conflicting statements regarding the economic reform program that was designed in return for a loan of…
Finance Ministry to have finished confiscating NDP property in 2 months
Egypt
January 2, 2012
Finance Ministry to have finished confiscating NDP property in 2 months
The Finance Ministry has announced that in two months, it will have finished confiscating real estate that belonged to the…
Govt issues bonds to stem decline of foreign reserves
Business
December 25, 2011
Govt issues bonds to stem decline of foreign reserves
The Finance Ministry recently offered treasury bills worth US$2.5 billion in an effort to improve cash flow and stem withdrawals…
Government to reduce spending in bid to offset budget deficit
Business
December 19, 2011
Government to reduce spending in bid to offset budget deficit
A Finance Ministry official has said that the government plans to reduce its spending in order to offset the state…
Government approves maximum wage draft law
Egypt
December 1, 2011
Government approves maximum wage draft law
The cabinet approved a maximum wage draft law in its last meeting, said Hazem Biblawy, former deputy prime minister of…
Government studies customs regulations to protect textile industry
Business
November 17, 2011
Government studies customs regulations to protect textile industry
The customs duty authority is meeting next week to revise tariffs and duties on textile products with a view to…
Egypt lost US$2 billion from cash reserves in October, says Central Bank
Business
November 3, 2011
Egypt lost US$2 billion from cash reserves in October, says Central Bank
Egypt's Central Bank lost US$2 billion from its international cash reserves in October, bringing its reserves down from $24.1 billion…
Egypt negotiating US$3 billion loan with IMF
Business
October 24, 2011
Egypt negotiating US$3 billion loan with IMF
A senior official at the Finance Ministry said on Monday that the Egyptian government is resuming negotiations with the International…