Business

Tourism up in 2012, but sector still in trouble, says minister

Tourism up in 2012, but sector still in trouble, says minister

About 10.5 million tourists visited Egypt from January 2012 to the end of November, an increase of 17.4 percent as…
Egypt’s economy will face tougher hurdles in 2013

Egypt’s economy will face tougher hurdles in 2013

Talk of economic recovery has all but gone silent in Egypt, replaced by doomsday predictions about the depths to which…
Egypt pound falls, rising fears of devaluation

Egypt pound falls, rising fears of devaluation

The Egyptian pound fell to its weakest in almost eight years as concerns the government might devalue or place restrictions…
Paper: Sales tax hikes on hold for two weeks

Paper: Sales tax hikes on hold for two weeks

The government will not implement a series of planned tax increases until it completes a dialogue with different parts of…
Egypt limits travelers leaving country to US$10,000 in cash

Egypt limits travelers leaving country to US$10,000 in cash

Egypt has banned travelers from carrying more than US$10,000 in foreign currency cash in or out of the country, as…
PM: Stability key to fixing economy

PM: Stability key to fixing economy

Prime Minister Hesham Qandil said on Tuesday that political stability was crucial to luring back foreign investors and tourists to…
Luxor hotel occupancy down to 20%

Luxor hotel occupancy down to 20%

A US delegation of tourism company managers arrived Monday to Luxor, Upper Egypt, as part of the governorate’s effort to…
International financial agency cuts Egypt’s rating amid political strife

International financial agency cuts Egypt’s rating amid political strife

Standard & Poor's cut Egypt's long-term credit rating on Monday and said another cut was possible if political turbulence worsened,…
New taxes will not affect lower income categories, govt claims

New taxes will not affect lower income categories, govt claims

Finance Minister Momtaz al-Saeed said Monday that a planned set of tax amendments will not adversely affect people with low…
New constitution may remove veteran Central Bank governor

New constitution may remove veteran Central Bank governor

Several senior positions at monitoring and independent bodies will become vacant if the referendum approval of the new constitution is…
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