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Egyptian government temporarily halts IMF loan negotiations

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

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

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

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

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

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

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

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

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

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…
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