Business
Egypt starts currency auctions, says reserves critical
December 29, 2012
Egypt starts currency auctions, says reserves critical
Egypt's central bank introduced a new auction system for buying and selling US dollars to help conserve foreign reserves, which…
Market movers: 10 projections on the global economy
December 28, 2012
Market movers: 10 projections on the global economy
When trying to predict what the coming year has in store in the context of an increasingly intertwined global economy,…
Turkey immunizes loan to Egypt against judicial rulings
December 27, 2012
Turkey immunizes loan to Egypt against judicial rulings
Turkey has immunized its US$2 billion loan to Egypt against variables such as a court ruling, said a government source.…
Stock exchange buoyed by Morsy’s promise to reshuffle Cabinet
December 27, 2012
Stock exchange buoyed by Morsy’s promise to reshuffle Cabinet
Stock indexes jumped at the end of trading on Thursday, influenced by purchases made by foreign and Arab investors. The…
Turning to gas imports will weigh on Egypt’s budget
December 27, 2012
Turning to gas imports will weigh on Egypt’s budget
Egypt will start importing natural gas for the first time due to rising local demand that is now outstripping supply,…
Suez Canal Authority contemplates fee increase
December 27, 2012
Suez Canal Authority contemplates fee increase
The Suez Canal Authority is considering increasing fees next year up to five percent, an authority source said Thursday. The…
Tourism up in 2012, but sector still in trouble, says minister
December 27, 2012
Tourism up in 2012, but sector still in trouble, says minister
About 10.5 million tourists visited Egypt from January 2012 to the end of November, an increase of 17.4 percent as…
Egypt’s economy will face tougher hurdles in 2013
December 27, 2012
Egypt’s economy will face tougher hurdles in 2013
Talk of economic recovery has all but gone silent in Egypt, replaced by doomsday predictions about the depths to which…
Egypt pound falls, rising fears of devaluation
December 26, 2012
Egypt pound falls, rising fears of devaluation
The Egyptian pound fell to its weakest in almost eight years as concerns the government might devalue or place restrictions…
Paper: Sales tax hikes on hold for two weeks
December 26, 2012
Paper: Sales tax hikes on hold for two weeks
The government will not implement a series of planned tax increases until it completes a dialogue with different parts of…