Business

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…
Turkish Airlines to resume flights to Sharm el-Sheikh in September

Turkish Airlines to resume flights to Sharm el-Sheikh in September

Turkish Airlines announced in a statement on Tuesday it plans to resume its flights to Sharm el-Sheikh starting September 10,…
Egypt announces sharp rises in electricity prices as it aims to phase out subsidies

Egypt announces sharp rises in electricity prices as it aims to phase out subsidies

Egypt will increase electricity prices by up to 40 percent for households as part of its plan to repair its…
Yields mixed at Egypt T-bill auction

Yields mixed at Egypt T-bill auction

August 7 Yields on Egypt's three-month treasury bills fell and yields on nine-month bills rose at Sunday's auction, data from…
Egypt’s solar power upset clouds outlook for foreign investors

Egypt’s solar power upset clouds outlook for foreign investors

When Egypt announced plans to develop renewable power in 2014, investors piled in, drawn by year-round sunshine and chronic electricity…
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…
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