Business
Cabinet mulling FJP privatization plan
April 2, 2013
Cabinet mulling FJP privatization plan
An unnamed official revealed the Cabinet is mulling a Freedom and Justice Party proposal to privatize portions of public companies…
Wheat imports to fall 8-10 pct in 2013
April 2, 2013
Wheat imports to fall 8-10 pct in 2013
Officials plan to cut state wheat imports this year by around 10 percent, with the world's largest grain importer relying…
Egypt seeking US$465 million loan from Arab Monetary Fund
April 2, 2013
Egypt seeking US$465 million loan from Arab Monetary Fund
Officials are in negotiations for a US$465 million from the Arab Monetary Fund, said Finance Minister Morsy Hegaz in an…
Egypt to reintroduce deposit operations, cancels repos
April 1, 2013
Egypt to reintroduce deposit operations, cancels repos
Egypt's central bank said on Monday it intended to reintroduce deposit operations as a way to absorb excess liquidity, starting…
More than LE130 bn in tax revenue received over nine months
March 31, 2013
More than LE130 bn in tax revenue received over nine months
Egypt collected LE132.1 billion in tax revenue from July to 31 March, said Mamdouh Omar, head of the Egyptian Tax…
Altimo subsidiary offers to buy Orascom Telecom
March 31, 2013
Altimo subsidiary offers to buy Orascom Telecom
The Egyptian Exchange said on Sunday a subsidiary of Russian billionaire Mikhail Fridman's Altimo had offered to buy 100 percent…
Egypt calls in favors as credit crunch hits key imports
March 29, 2013
Egypt calls in favors as credit crunch hits key imports
Egypt has hit breaking point in its ability to pay for imports of oil, wheat and other basic commodities, forcing…
IMF mission to visit Egypt in early April for loan talks
March 29, 2013
IMF mission to visit Egypt in early April for loan talks
The International Monetary Fund said on Thursday it would visit Egypt in the "first days of April" for talks with…
Suez Canal revenue drops 7.4 pct in Feb vs Jan
March 29, 2013
Suez Canal revenue drops 7.4 pct in Feb vs Jan
Revenue from the Suez Canal fell to US$375.3 million in February, down 7.4 percent on the previous month and down…
Budget deficit climbs to LE146.5 bln
March 28, 2013
Budget deficit climbs to LE146.5 bln
The national budget deficit jumped to LE146.5 billion from July 2012 to February 2013, a rise that is equivalent…