Business

Fiscal fumbling: Tax law, IMF turmoil knocks economy off course

Fiscal fumbling: Tax law, IMF turmoil knocks economy off course

Egyptian officials have asked to postpone a request for a US$4.8 loan from the International Monetary Fund, loan officials said…
Imminent decree to give Morsy more power over Central Bank

Imminent decree to give Morsy more power over Central Bank

President Mohamed Morsy will issue a decree within days that would give him more power over Egypt’s Central Bank, according…
Inflation drops to lowest rate in seven years

Inflation drops to lowest rate in seven years

The annual inflation rate decreased in November by 4.1 percent as compared to the same month last year, the Central…
Stock market falls again after constitutional referendum rejection

Stock market falls again after constitutional referendum rejection

The Egyptian stock exchange dropped Monday after gaining Sunday, as a main opposition coalition rejected President Mohamed Morsy’s plan to…
Morsy issues broad tax increases, including energy, soft drinks, cigarettes, alcohol

Morsy issues broad tax increases, including energy, soft drinks, cigarettes, alcohol

New public tax laws on a broad array of products and services were technically entered into force on Friday, as…
Stock market gains LE4 billion

Stock market gains LE4 billion

Stock market indices made gains Sunday morning following the partial replacement of President Mohamed Morsy’s November constitutional declaration with a…
Foreign reserves take hit in November; politics, low tourism to blame

Foreign reserves take hit in November; politics, low tourism to blame

Foreign cash reserves held by the Central Bank of Egypt dropped by US$448 million in November, falling from $15.483 billion…
Stock market loses LE10.4 billion Thursday

Stock market loses LE10.4 billion Thursday

The violent clashes in front of the presidential palace Wednesday night affected the stock market negatively on Thursday.
Official: Egypt negotiates delaying foreign debt repayment

Official: Egypt negotiates delaying foreign debt repayment

The Planning and International Cooperation Ministry is holding negotiations with creditor countries to delay an external debt payment of US$1…
Africa rising: Can Egypt capitalize on its neighbors’ growth?

Africa rising: Can Egypt capitalize on its neighbors’ growth?

As Egypt struggles to recover from a period of political tumult and a two-year economic downturn, the country’s market officials…
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