Business
Egyptian government temporarily halts IMF loan negotiations
August 28, 2013
Egyptian government temporarily halts IMF loan negotiations
According to minister of finance, Ahmed Galal, the Egyptian government currently has no intention of carrying forward talks with the…
Egyptian economy better off than in June according to finance minister
August 28, 2013
Egyptian economy better off than in June according to finance minister
Finance Minister Ahmed Galal has said Egypt's economic and financial situation has improved since June. Galal pointed to exchange rate stability,…
Railways lose LE250m over two weeks: minister
August 27, 2013
Railways lose LE250m over two weeks: minister
Minister of Transport Ibrahim al-Domeiry estimated losses incurred by Egypt's railways authority over the past two weeks at LE250 million.The…
Stock market sees modest losses
August 26, 2013
Stock market sees modest losses
After a good start to this week’s transactions, the Egypt stock market ended Monday’s session in the red as its…
External debt swells
August 26, 2013
External debt swells
Egypt’s external debt grew by US $4 billion in March 2013 reaching $38.4 billion compared to $34.4 billion in June…
Arab Fund offers to finance Egypt-Saudi power link-up
August 26, 2013
Arab Fund offers to finance Egypt-Saudi power link-up
Minister of Electricity Ahmed Imam said the Arab Fund for Economic and Social Development has offered to finance Egypt's share…
Sources: curfew delays fuel supply to stations
August 23, 2013
Sources: curfew delays fuel supply to stations
Despite the availability of oil and diesel surplus, long curfew hours have been delaying the delivery of supplies to oil…
Why Egypt’s pound is not strengthening
August 23, 2013
Why Egypt’s pound is not strengthening
Take a look at this chart, which the Central Bank has been proudly parading this month:(Bloomberg)It shows how the pound’s…
Kuwait sends 1.25 million barrels of oil to Egypt
August 21, 2013
Kuwait sends 1.25 million barrels of oil to Egypt
According to a Kuwaiti petroleum official, Kuwait has sent Egypt 1.25 million barrels of crude oil and 20,000 tons of…
Egypt to use Gulf billions to spur economy
August 21, 2013
Egypt to use Gulf billions to spur economy
Egypt plans to avoid raising taxes or cutting spending but instead use billions of dollars in aid pledged by Gulf…