Business
Qandil discusses proposed aid package with senior US diplomat
August 28, 2012
Qandil discusses proposed aid package with senior US diplomat
Prime Minister Hesham Qandil met with the US under secretary of state for economic growth on Tuesday to discuss a…
Egypt’s Central Bank sells 513 mn euros of T-bills
August 28, 2012
Egypt’s Central Bank sells 513 mn euros of T-bills
Egypt's Central Bank sold 513 million euros (US$642 million) worth of euro-denominated T-bills at an inaugural auction on Tuesday, and…
Morsy rules out currency devaluation
August 27, 2012
Morsy rules out currency devaluation
Egypt's new president said on Monday he would not impose new taxes or devalue the country's currency and that…
US delegation arrives in Cairo Tuesday to discuss aid package
August 27, 2012
US delegation arrives in Cairo Tuesday to discuss aid package
The US is resuming negotiations with the Egyptian government regarding an economic aid package to help Egypt overcome the…
Govt to stop subsidizing energy for cement factories, says minister
August 26, 2012
Govt to stop subsidizing energy for cement factories, says minister
The government will no longer subsidize energy for new cement factories, including 14 factories for which licenses have already…
Nour Party divided on IMF loan
August 25, 2012
Nour Party divided on IMF loan
Spokesperson for the Salafi Nour Party Yousry Hammad said Saturday that the interest on the planned IMF loan to Egypt…
Egypt struggles to buy fuel as credit dries up
August 23, 2012
Egypt struggles to buy fuel as credit dries up
LONDON/CAIRO — Egypt is finding it increasingly difficult to import fuel as foreign banks and traders pull the plug…
IMF envoys: Egypt visit is to express solidarity, not discuss loan details
August 23, 2012
IMF envoys: Egypt visit is to express solidarity, not discuss loan details
The International Monetary Fund's delegation in Cairo met with representatives from the economic ministries to agree on the steps Egypt…
Suez Canal sees record revenues
August 23, 2012
Suez Canal sees record revenues
Lieutenant General Mohab Mamish, Suez Canal Authority chairman, said that the canal hit a record in daily revenue Thursday with…
Lagarde, Qandil hope for IMF deal before end of year
August 22, 2012
Lagarde, Qandil hope for IMF deal before end of year
The Egyptian government has entered negotiations with the International Monetary Fund for a US$4.8 billion loan, Prime Minister Hesham Qandil…