Business
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
March 22, 2013
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
Moody's cut Egypt's credit rating on Thursday, citing unsettled political conditions and public finances, which it said raised the chance…
Central Bank raises rates to curb inflation, support pound
March 22, 2013
Central Bank raises rates to curb inflation, support pound
The Central Bank raised interest rates on Thursday, hoping to curb soaring inflation and slow a sliding pound currency, but…
US dollar deposits grow as pound falls
March 19, 2013
US dollar deposits grow as pound falls
Egyptians are continuing to convert Egyptian pound bank deposits into US dollars, fearing further depreciation for the embattled currency. A…
Shura Council approves Islamic bond law
March 19, 2013
Shura Council approves Islamic bond law
Parliament approved a law Tuesday allowing the issuance of Islamic bonds, slated to provide the heavily-indebted government with a new…
Domestic wheat output of 9.475 mln tons expected this season
March 18, 2013
Domestic wheat output of 9.475 mln tons expected this season
The government expects wheat production of around 9.475 million tons this season if good weather conditions continue, the state news…
Egypt rejects link between IMF loan and stalled polls
March 18, 2013
Egypt rejects link between IMF loan and stalled polls
Egypt rejected on Monday any link between stalled parliamentary elections and its drive to secure a loan from the IMF…