Business
Shura Council committee asks US to forgive Egypt’s debt
June 11, 2012
Shura Council committee asks US to forgive Egypt’s debt
The United States should exempt Egypt from debts that account for 10 percent of its foreign financial obligations, said Mohamed…
Orascom Construction net income drops 54 percent
June 11, 2012
Orascom Construction net income drops 54 percent
Egypt's Orascom Construction reported a 54 percent fall in first-quarter net income on Monday, partly due to the sale of…
Central Bank: Balance of payments deficit at US$11.2 bn, inflation 7.2%
June 10, 2012
Central Bank: Balance of payments deficit at US$11.2 bn, inflation 7.2%
Egypt's balance of payments slid deeper into the red in the first nine months of 2011–2012 with a deficit of…
Spain to seek bailout up to 100 billion euros in days: sources
June 9, 2012
Spain to seek bailout up to 100 billion euros in days: sources
BRUSSELS - Spain will request aid from its euro zone partners of up to 100 billion euros but not…
EgyptAir increases flights for summer
June 7, 2012
EgyptAir increases flights for summer
EgyptAir said Thursday the airline has increased its scheduled flights for the second half of summer 2012 by 18 percent…
Port Said East container terminal to be put on global auction
June 7, 2012
Port Said East container terminal to be put on global auction
Prime Minister Kamal al-Ganzouri has agreed to globally auction a contract to construct a second Port Said East container terminal…
Egypt’s OCI gets $100 mn loan from World Bank
June 7, 2012
Egypt’s OCI gets $100 mn loan from World Bank
Egypt's Orascom Construction Industries (OCI) has secured a $100 million loan from the World Bank's investment arm to help it…
Stable investment environment is unlikely following runoff
June 6, 2012
Stable investment environment is unlikely following runoff
Egyptian investors are in wait-and-see mode ahead of a crucial runoff vote in the country's presidential election, with many skeptical…
Update: Jump in Egypt foreign reserves may mask problem
June 6, 2012
Update: Jump in Egypt foreign reserves may mask problem
Egypt's foreign reserves rose by US$302 million in May, their second successive monthly increase, but the positive number may mask…
Parliament does not intend to reject government’s new budget
June 5, 2012
Parliament does not intend to reject government’s new budget
People's Assembly committees intensified their meetings Tuesday to discuss the new state budget announced by Finance Minister Momtaz al-Saeed. Abdel…