Business

Mobile phone sales tax to rise 5%

Mobile phone sales tax to rise 5%

The sales tax on mobile phone use is set to jump to 20 percent up from 15 percent, according to…
Fact box: Almost 500,000 lost their jobs in 2011

Fact box: Almost 500,000 lost their jobs in 2011

In March, the Central Agency for Public Mobilization and Statistics published a new book that revealed 483,000 Egyptians had lost…
Qandil expects IMF loan approval soon

Qandil expects IMF loan approval soon

The Cabinet issued an official invitation to the International Monetary Fund delegation to resume talks over a US$4.8 billion, according…
Construction sector shrinks as material prices soar

Construction sector shrinks as material prices soar

  The number of registered contracting and building companies has fallen from 41.000 to 14,000, according to Mohamed Abul Enein,…
Nour Party launches initiative to ‘save’ economy

Nour Party launches initiative to ‘save’ economy

The Nour Party announced on Monday the launch of the National Council for Economic Development, as part of a bid…
Iraq to provide Egypt with 4 million barrels of oil per month

Iraq to provide Egypt with 4 million barrels of oil per month

Iraq will start supplying Egypt with 4 million barrels of Basra crude oil per month, according to an agreement signed…
Egypt’s fuel shortages demonstrate perfect storm of economic pressures

Egypt’s fuel shortages demonstrate perfect storm of economic pressures

Long lines at gas stations and electricity blackouts have become a part of everyday life for most Egyptians in the…
Market falls amid OCI travel ban, new regulations

Market falls amid OCI travel ban, new regulations

The main index of the Egyptian stock market fell by a whopping 2.30 percentage points on Monday, the biggest losses…
57.5% of Egyptians do not make ends meet: Govt survey

57.5% of Egyptians do not make ends meet: Govt survey

A survey of Cabinet’s Information and Decision Support Center (IDSC) has shown that the incomes of 57.5 percent of Egyptian…
Egypt bans OCI founder, chairperson from travel

Egypt bans OCI founder, chairperson from travel

The prosecutor general’s office placed a travel ban on the founder of Orascom Constructions Industries Onsi Sawiris and his son,…
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