Business
Central Bank: Pound fell at dollar auction
January 9, 2013
Central Bank: Pound fell at dollar auction
The pound fell at a Central Bank of Egypt auction of dollars Wednesday, the seventh such sale since it introduced…
Qatari deposit pushes stock market up by 1.08 percent
January 9, 2013
Qatari deposit pushes stock market up by 1.08 percent
The stock exchange rose Wednesday after Qatar raised its financial support to Egypt by US$5 billion.
Egypt gets second installment of $1 bln loan
January 9, 2013
Egypt gets second installment of $1 bln loan
The General Petroleum Authority on Wednesday signed an agreement with a member of the Islamic Development Bank Group to receive…
Centamin beats gold production targets despite hurdles
January 9, 2013
Centamin beats gold production targets despite hurdles
Gold producer Centamin, which has been plagued by difficulties operating in Egypt in recent months, beat its annual production target…
Lagarde: Egypt must endorse IMF loan deal as its own
January 8, 2013
Lagarde: Egypt must endorse IMF loan deal as its own
Egypt's government must endorse a US$4.8 billion IMF loan agreement and propose it to the Egyptian people as its own…
Govt to increase drug prices after 2012 production losses
January 8, 2013
Govt to increase drug prices after 2012 production losses
A government official has denied rumors that the Health Ministry is expected to increase the price of 572 drugs, saying…
IMF wants pound value to drop against US dollar, says official
January 8, 2013
IMF wants pound value to drop against US dollar, says official
The International Monetary Fund has criticized the Central Bank of Egypt for its delay in allowing the Egyptian pound’s value…
Pound hits record low
January 8, 2013
Pound hits record low
The Egyptian pound hit a record low on Tuesday after weakening again at a Central Bank US dollar auction designed…
IMF official in Egypt as currency crisis bites
January 7, 2013
IMF official in Egypt as currency crisis bites
A senior International Monetary Fund official met Egypt's government on Monday to discuss a vital US$4.8 billion loan as the…
Prime minister: Egyptian expat remittances increase by 40 percent
January 6, 2013
Prime minister: Egyptian expat remittances increase by 40 percent
Remittances from Egyptians living abroad have increased by 40 percent, Prime Minister Hesham Qandil said in a press conference Sunday.