Business
Suez Canal revenues down; railway revenues increase
December 13, 2012
Suez Canal revenues down; railway revenues increase
Suez Canal revenues fell by 1.1 percent during October to reach US$443 million, while railway revenues increased between January and…
Company exploiting Sukari Gold Mine halts work, citing government demand
December 13, 2012
Company exploiting Sukari Gold Mine halts work, citing government demand
An official from the Sukari Gold Mine said on Thursday that work has stopped due to a diesel shortage. The…
Fiscal fumbling: Tax law, IMF turmoil knocks economy off course
December 12, 2012
Fiscal fumbling: Tax law, IMF turmoil knocks economy off course
Egyptian officials have asked to postpone a request for a US$4.8 loan from the International Monetary Fund, loan officials said…
Imminent decree to give Morsy more power over Central Bank
December 11, 2012
Imminent decree to give Morsy more power over Central Bank
President Mohamed Morsy will issue a decree within days that would give him more power over Egypt’s Central Bank, according…
Inflation drops to lowest rate in seven years
December 10, 2012
Inflation drops to lowest rate in seven years
The annual inflation rate decreased in November by 4.1 percent as compared to the same month last year, the Central…
Stock market falls again after constitutional referendum rejection
December 10, 2012
Stock market falls again after constitutional referendum rejection
The Egyptian stock exchange dropped Monday after gaining Sunday, as a main opposition coalition rejected President Mohamed Morsy’s plan to…
Morsy issues broad tax increases, including energy, soft drinks, cigarettes, alcohol
December 9, 2012
Morsy issues broad tax increases, including energy, soft drinks, cigarettes, alcohol
New public tax laws on a broad array of products and services were technically entered into force on Friday, as…
Stock market gains LE4 billion
December 9, 2012
Stock market gains LE4 billion
Stock market indices made gains Sunday morning following the partial replacement of President Mohamed Morsy’s November constitutional declaration with a…
Foreign reserves take hit in November; politics, low tourism to blame
December 6, 2012
Foreign reserves take hit in November; politics, low tourism to blame
Foreign cash reserves held by the Central Bank of Egypt dropped by US$448 million in November, falling from $15.483 billion…
Stock market loses LE10.4 billion Thursday
December 6, 2012
Stock market loses LE10.4 billion Thursday
The violent clashes in front of the presidential palace Wednesday night affected the stock market negatively on Thursday.