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Shura Council committee asks US to forgive Egypt’s debt

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

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%

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

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

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

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

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

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

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

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…
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