Economy

British Airways offers support to Egyptian tour operators

British Airways offers support to Egyptian tour operators

British Airways has affirmed its support for Egypt's travel and tourism industry, stressing the need for joint action to support…
Egypt’s 2015/16 petroleum subsidy spending down 23 percent

Egypt’s 2015/16 petroleum subsidy spending down 23 percent

Egypt's spending on petroleum subsidies fell by 23 percent in 2015/16 to 55 billion Egyptian pounds ($6.27 billion), Tarek al-Hadidi,…
Combating deficit, Finance Ministry proposes raise on gov’t service prices

Combating deficit, Finance Ministry proposes raise on gov’t service prices

Egypt is mulling raising the prices of some 14 government services to generate additional revenue for the state budget, a…
Egypt’s finance minister expects first tranche of IMF loan in six weeks

Egypt’s finance minister expects first tranche of IMF loan in six weeks

Egypt expects to receive the first $4 billion tranche of a $12 billion three-year IMF loan facility within six weeks,…
Iraq, oil companies agree to restart investment, boost output

Iraq, oil companies agree to restart investment, boost output

Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing,…
Egypt’s Orascom Telecom Q1 net profit tumbles to LE48.733 mln

Egypt’s Orascom Telecom Q1 net profit tumbles to LE48.733 mln

Egypt's Orascom Telecom Media and Technology Holding said on Thursday its first quarter net profit had fallen to 48.73 million…
Egypt’s EFG-Hermes losses deepen to 67.55 mln Egyptian pounds in second quarter

Egypt’s EFG-Hermes losses deepen to 67.55 mln Egyptian pounds in second quarter

Egypt's EFG-Hermes, the country's largest investment bank, said on Thursday it made a net loss of LE67.55 million ($7.61 million)…
Egypt’s cabinet approves draft tax settlement bill amid IMF talks

Egypt’s cabinet approves draft tax settlement bill amid IMF talks

Egypt's government approved a draft bill that would settle tax disputes, the cabinet said in a statement on Wednesday, a…
Egypt inflation rate at 14.8% in July: CAPMAS

Egypt inflation rate at 14.8% in July: CAPMAS

The government statistics agency has announced an official inflation rate of 14.8 percent in July, showing now increase on the…
Egypt sets jail as punishment for black market forex trading

Egypt sets jail as punishment for black market forex trading

Egypt's parliament on Tuesday set prison sentences of between three and 10 years in jail and fines of up to…
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