Finance minister: No more privatization or nationalization
Business
August 7, 2011
Finance minister: No more privatization or nationalization
The government will no longer privatize government-owned companies or nationalize private ones, said Finance Minister Hazem al-Beblawy in a press…
Foreign direct investment falls by 75%
Business
July 27, 2011
Foreign direct investment falls by 75%
Foreign direct investment fell by 75.1 percent in the first quarter of 2011 compared to the last quarter of 2010,…
Minimum wage set at LE708 per month
Business
July 11, 2011
Minimum wage set at LE708 per month
The Ministry of Finance on Monday raised the minimum wage by 59 percent from LE444 to LE708 per month for…
Official disputes reports of Gulf aid to Egypt
Business
July 8, 2011
Official disputes reports of Gulf aid to Egypt
An anonymous government official said Egypt has not received the aid packages and loans reportedly agreed upon with Arab countries,…
Minimum wage reduced to LE684 in new state budget
Business
July 4, 2011
Minimum wage reduced to LE684 in new state budget
Field Marshal Mohamed Hussein Tantawy, head of the Supreme Council of the Armed Forces (SCAF), has endorsed the 2011/2012 state…
Govt to reduce petroleum subsidies
Business
July 1, 2011
Govt to reduce petroleum subsidies
The Petroleum and Solidarity and Social Justice ministries are scheduled to begin reducing petroleum product subsidies in July. The plan…
Banque du Caire negotiates US$2 bn loan for petroleum sector
Business
June 13, 2011
Banque du Caire negotiates US$2 bn loan for petroleum sector
Banque du Caire has started negotiations with Petroleum Export Limited to secure a US$2 billion loan to finance imports of…
Ministry of Finance: State budget was not amended
Business
June 9, 2011
Ministry of Finance: State budget was not amended
Sources at the Ministry of Finance said the Supreme Council of the Armed Forces did not amend any provisions of…
Finance minister: Saudi Arabia offers US$200 million in aid
Business
May 19, 2011
Finance minister: Saudi Arabia offers US$200 million in aid
Finance Minister Samir Radwan on Thursday said Saudi Arabia has offered the Egyptian government US$200 million in financial aid to…
No new government jobs for fresh graduates
Business
May 17, 2011
No new government jobs for fresh graduates
The Finance Ministry on Tuesday announced that the government will not be offering new jobs to fresh university graduates, a…