Business
Dollar selling price reaches LE6.42 in banks, exchange bureaus
December 31, 2012
Dollar selling price reaches LE6.42 in banks, exchange bureaus
The dollar continued to rise against the Egyptian pound during trading on Monday in banks and exchange bureaus, despite the…
Central bank offers US$75 mln at 2nd currency auction
December 31, 2012
Central bank offers US$75 mln at 2nd currency auction
Egypt's central bank said it was offering to sell US$75 million to banks on Monday at its second foreign currency…
State budget suffers incurable disease, says finance minister
December 30, 2012
State budget suffers incurable disease, says finance minister
The state budget suffers from an incurable disease, with resources only covering 60 percent of public expenditures, state-owned Nile…
Egypt starts currency auctions, says reserves critical
December 29, 2012
Egypt starts currency auctions, says reserves critical
Egypt's central bank introduced a new auction system for buying and selling US dollars to help conserve foreign reserves, which…
Market movers: 10 projections on the global economy
December 28, 2012
Market movers: 10 projections on the global economy
When trying to predict what the coming year has in store in the context of an increasingly intertwined global economy,…
Turkey immunizes loan to Egypt against judicial rulings
December 27, 2012
Turkey immunizes loan to Egypt against judicial rulings
Turkey has immunized its US$2 billion loan to Egypt against variables such as a court ruling, said a government source.…
Stock exchange buoyed by Morsy’s promise to reshuffle Cabinet
December 27, 2012
Stock exchange buoyed by Morsy’s promise to reshuffle Cabinet
Stock indexes jumped at the end of trading on Thursday, influenced by purchases made by foreign and Arab investors. The…
Turning to gas imports will weigh on Egypt’s budget
December 27, 2012
Turning to gas imports will weigh on Egypt’s budget
Egypt will start importing natural gas for the first time due to rising local demand that is now outstripping supply,…
Suez Canal Authority contemplates fee increase
December 27, 2012
Suez Canal Authority contemplates fee increase
The Suez Canal Authority is considering increasing fees next year up to five percent, an authority source said Thursday. The…