Economy
Negotiations for $12 bn IMF loan going smoothly: finance minister
August 5, 2016
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
August 5, 2016
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
August 5, 2016
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
August 4, 2016
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
August 3, 2016
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
August 3, 2016
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
August 3, 2016
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
August 2, 2016
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
August 2, 2016
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
August 1, 2016
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…