Business
Egypt limits travelers leaving country to US$10,000 in cash
December 25, 2012
Egypt limits travelers leaving country to US$10,000 in cash
Egypt has banned travelers from carrying more than US$10,000 in foreign currency cash in or out of the country, as…
PM: Stability key to fixing economy
December 25, 2012
PM: Stability key to fixing economy
Prime Minister Hesham Qandil said on Tuesday that political stability was crucial to luring back foreign investors and tourists to…
Luxor hotel occupancy down to 20%
December 24, 2012
Luxor hotel occupancy down to 20%
A US delegation of tourism company managers arrived Monday to Luxor, Upper Egypt, as part of the governorate’s effort to…
International financial agency cuts Egypt’s rating amid political strife
December 24, 2012
International financial agency cuts Egypt’s rating amid political strife
Standard & Poor's cut Egypt's long-term credit rating on Monday and said another cut was possible if political turbulence worsened,…
New taxes will not affect lower income categories, govt claims
December 24, 2012
New taxes will not affect lower income categories, govt claims
Finance Minister Momtaz al-Saeed said Monday that a planned set of tax amendments will not adversely affect people with low…
New constitution may remove veteran Central Bank governor
December 24, 2012
New constitution may remove veteran Central Bank governor
Several senior positions at monitoring and independent bodies will become vacant if the referendum approval of the new constitution is…
Govt slows diesel price increase in response to strike threats
December 23, 2012
Govt slows diesel price increase in response to strike threats
The government has ordered a controversial 130 percent increase in the price of diesel fuel for industry put on…
Finance Ministry: Deficit climbed to US$13 bn in last five months
December 23, 2012
Finance Ministry: Deficit climbed to US$13 bn in last five months
The state budget deficit climbed to LE80.7 billion (US$13.1 billion) in the first five months of the 2012/2013 fiscal year,…
Is the Central Bank’s independence on the line?
December 23, 2012
Is the Central Bank’s independence on the line?
The Central Bank of Egypt has been making headlines recently, not least of which due to the dire state of…
Fragile economy overshadows Morsy’s referendum win
December 23, 2012
Fragile economy overshadows Morsy’s referendum win
Egyptian President Mohamed Morsy will have little time to savor victory in pushing through a new constitution as it may…