Business
Egypt needs investments of US$45 billion to meet target growth rate
September 4, 2012
Egypt needs investments of US$45 billion to meet target growth rate
Egypt needs LE276 billion (US$45 billion) in investment this year to meet its targeted growth rate, Prime Minister Hesham Qandil…
Is the government trying to tap into the lucrative mobile phone industry?
September 4, 2012
Is the government trying to tap into the lucrative mobile phone industry?
With a mobile phone in the hands of nearly every Egyptian and three large companies vying to provide customers with…
US nearing deal for $1 billion in Egypt debt relief
September 4, 2012
US nearing deal for $1 billion in Egypt debt relief
The Obama administration is close to a deal with Egypt's new government for US$1 billion in debt relief, a senior…
Multi-million dollar loan from China due to arrive in National Bank
September 3, 2012
Multi-million dollar loan from China due to arrive in National Bank
The National Bank of Egypt said that the US$200 million loan recently granted by the China Development Bank will arrive…
Foreign exchange reserves increase
September 3, 2012
Foreign exchange reserves increase
Foreign exchange reserves increased by about US$685 million at the end of August after Qatar gave $500 million, the first…
Slow burn: Govt plans gas subsidy cuts, but logistics are unclear
September 3, 2012
Slow burn: Govt plans gas subsidy cuts, but logistics are unclear
In a bold break with precedent, the 2012/13 state budget presented by former Prime Minister Kamal al-Ganzouri and his Cabinet…
British government inactive on freezing Mubarak regime accounts
September 3, 2012
British government inactive on freezing Mubarak regime accounts
The British government has allowed 19 members accused of embezzling under the former regime to keep for the past year…
Stock exchange achieves second highest monthly record
August 31, 2012
Stock exchange achieves second highest monthly record
The Egyptian Stock Exchange achieved unprecedented gains of nearly LE30 billion in August backed by several positive events at the…
Ampal files for Chapter 11 as Egypt natgas halt weighs
August 30, 2012
Ampal files for Chapter 11 as Egypt natgas halt weighs
Ampal-American Israel Corp filed for Chapter 11 bankruptcy protection as it faces deepening financial troubles in the wake of a…
US delegation in favor of IMF loan, protesters say no
August 29, 2012
US delegation in favor of IMF loan, protesters say no
The head of the US economic delegation said Wednesday that United States welcomes Egypt's negotiations with the IMF as the…