Business
EFG Hermes gets go-ahead for Qatar deal
October 15, 2012
EFG Hermes gets go-ahead for Qatar deal
Egypt’s regulator has no objections to EFG Hermes’ plan to create a jointly owned investment bank with QInvest of Qatar,…
Govt details fuel subsidy rationing
October 14, 2012
Govt details fuel subsidy rationing
Egypt's government plans to cut energy subsidies by setting a universal limit on how much cheap fuel and cooking…
Senior Iranian diplomat plays down trade agreements, highlights industry-specific assistance
October 14, 2012
Senior Iranian diplomat plays down trade agreements, highlights industry-specific assistance
Hassan Kazemi, Iran’s assistant foreign minister for economic affairs, said that his country is open to a free trade zone…
In sukkuk, govt sees a solution to economic crisis
October 12, 2012
In sukkuk, govt sees a solution to economic crisis
Prime Minister Hashem Qandil announced last month his government’s intention to issue one or two rounds of sukuk, a…
Antiquated rental law distorts housing market
October 11, 2012
Antiquated rental law distorts housing market
In the upscale neighborhood of Abbas al-Akkad in Nasr City, Amr Hegazy owns a five-story building surrounded by prominent restaurants. Passing…
Up against a fiscal wall, government courts foreign investment
October 11, 2012
Up against a fiscal wall, government courts foreign investment
Officials are making a concerted effort to assure foreign and domestic investors that the climate for business is safe and…
Serious govt action needed on economy, experts say
October 10, 2012
Serious govt action needed on economy, experts say
The government needs to do more to further encourage foreign investment and face its own growing budget deficit soon, or…
Islamic Development Bank to lend Egypt US$330 million
October 10, 2012
Islamic Development Bank to lend Egypt US$330 million
Several local and regional banks are preparing to give the Egyptian government a US$330 million loan, in the second portion…
Stock exchange rebounds after two sessions of decline
October 10, 2012
Stock exchange rebounds after two sessions of decline
The Egyptian Stock Exchange index rebounded strongly on Wednesday after two sessions of declines as positive sentiment generated by government…
Presidency outlines progress on bread reforms
October 10, 2012
Presidency outlines progress on bread reforms
Bread subsidies have cost LE16 billion during the current fiscal year 2012/13, the presidency said in a report Wednesday. A…