Economy

Negotiations for $12 bn IMF loan going smoothly: finance minister

Negotiations for $12 bn IMF loan going smoothly: finance minister

Finance Minister Amr al-Garhy has announced that talks with an International Monetary Fund delegation, which is currently visiting Cairo, have…
Egypt bourse caps firms raising cash abroad to deepen home market

Egypt bourse caps firms raising cash abroad to deepen home market

Egypt's stock exchange is changing its rules on global depositary receipts (GDRs) to encourage companies to increase their "free float"…
Egypt to sell 20-30% stakes in state firms slated for IPO

Egypt to sell 20-30% stakes in state firms slated for IPO

Egypt will sell stakes of between 20 and 30 percent in state companies that it decides to float on the…
UK banks pin Brexit hopes on financial crisis bailout negotiator

UK banks pin Brexit hopes on financial crisis bailout negotiator

In early October 2008, then Business Minister Shriti Vadera called a secret meeting of bankers and government officials on the…
High gold prices push clients out of Egypt’s hub for jewelry

High gold prices push clients out of Egypt’s hub for jewelry

A dowry of gold is the first step in marriage procedures for Egyptians, and Sagha is the destination. The area…
AOI manufactures 100% Egyptian railcar

AOI manufactures 100% Egyptian railcar

The Arab Organization for Industrialization (AOI) announced in a press release on Wednesday it manufactured 100 percent Egyptian third-class railcar…
World Bank to provide $500 mn for Upper Egypt development program

World Bank to provide $500 mn for Upper Egypt development program

The Egyptian government signed a deal with the World Bank on Tuesday for US$500 million in funding for an economic…
German state of Bavaria to sue VW over emissions scandal

German state of Bavaria to sue VW over emissions scandal

The German state of Bavaria said on Tuesday it would sue Volkswagen for damages caused by its emissions-test cheating scandal,…
State-owned oil, banking and electricity firms to be privatized: Investment Ministry

State-owned oil, banking and electricity firms to be privatized: Investment Ministry

The Egyptian government will target state-owned firms in the banking, petroleum and electricity sectors for the first wave of its…
Egypt’s external debt to reach $53.4 billion with IMF loan: minister

Egypt’s external debt to reach $53.4 billion with IMF loan: minister

Egypt's Finance Minister Amr al-Garhy said in a television interview on Sunday that Egypt's external debt would reach $53.4 billion…
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