Business
Govt has ‘plan b’ if IMF negotiations fail
February 14, 2013
Govt has ‘plan b’ if IMF negotiations fail
The Cabinet plans to invite the International Monetary Fund delegation to Cairo next month to resume negotiations over a…
Supply minister: Wheat reserves good for four months
February 13, 2013
Supply minister: Wheat reserves good for four months
Minister of Supply and Internal Trade Bassem Kamal on Wednesday said existing and contracted local and imported wheat reserves are…
Pound weakens to new record low
February 13, 2013
Pound weakens to new record low
The Egyptian pound weakened to a record low against the US dollar in interbank trade and slid further still on…
Petroleum authority feels effects of credit downgrade
February 13, 2013
Petroleum authority feels effects of credit downgrade
The General Petroleum Corporation will likely have trouble seeking loans following an international credit rating agency's decision to downgrade…
OCI transition to Dutch company moves forward
February 13, 2013
OCI transition to Dutch company moves forward
Orascom Construction Industries announced Wednesday that a majority of its shareholders had agreed to transfer their shares to a Dutch-based…
Moody’s cuts Egypt, cites unrest and IMF doubt
February 12, 2013
Moody’s cuts Egypt, cites unrest and IMF doubt
Ratings agency Moody's cut Egypt's credit rating on Tuesday, citing doubts about its ability to secure International Monetary Fund support…
Egypt farm bank launching retail Islamic services
February 12, 2013
Egypt farm bank launching retail Islamic services
Egypt's main agricultural bank is launching Islamic retail services this month to meet increasing demand in rural areas, a bank…
Stocks hit 9-day high as violence abates
February 12, 2013
Stocks hit 9-day high as violence abates
Egyptian stocks recorded their highest gains in nine days on Tuesday after protests marking the resignation of former President Hosni…
NBD to finance electric grid using Islamic finance
February 11, 2013
NBD to finance electric grid using Islamic finance
The National Bank for Development (NBD) announced on Monday that it has signed on to finance US$110 million in improvements…
Egypt’s non-petroleum exports achieved LE 11.2 billion in January
February 11, 2013
Egypt’s non-petroleum exports achieved LE 11.2 billion in January
Egypt's non-petroleum exports during January reached LE 11.260 billion, up by 12 percent compared to the same month of last…