Business
PM: Donors say they want IMF accord first
February 8, 2012
PM: Donors say they want IMF accord first
International donors have made any financial support they provide to Egypt contingent on Cairo first reaching agreement on a financing…
Govt raises diesel prices by 75 percent for industrial sector
February 8, 2012
Govt raises diesel prices by 75 percent for industrial sector
The Egyptian government on Wednesday approved a 75 percent increase in diesel prices to reduce petroleum subsidies in the industrial…
Government drags feet on fuel subsidy reform
February 8, 2012
Government drags feet on fuel subsidy reform
For years, Egypt’s government has discussed the need to reform fuel subsidies that mainly benefit energy-intensive industries and the wealthy,…
Foreign reserves fall, add to pressure on pound
February 7, 2012
Foreign reserves fall, add to pressure on pound
The drain on Egypt's foreign reserves showed little sign of abating in January, adding to pressure on the government to…
Egypt rules out negative impact on Suez Canal from Israeli railway project
February 7, 2012
Egypt rules out negative impact on Suez Canal from Israeli railway project
Abdel Tawab Haggag, economic advisor to the Suez Canal Authority, on Tuesday ruled out any negative effects on the canal…
Deficit in new budget exceeds LE140 bln
February 7, 2012
Deficit in new budget exceeds LE140 bln
The total amount of resources in the new budget is estimated at LE350 billion and the deficit stands at LE141…
Consumers suffer from scarce butane as black market prices soar
February 6, 2012
Consumers suffer from scarce butane as black market prices soar
Mona Farag stood quietly watching military and police beat some of the women around her, forcing them, with the sides…
Egypt woos tourists with incentives, promises of stability
February 6, 2012
Egypt woos tourists with incentives, promises of stability
Egypt announced on Monday that it will offer several unprecedented incentives through Egyptian hotels to attract tourists. Egypt's Ministry of Tourism…
World Bank says Egypt requested US$1bn loan
February 2, 2012
World Bank says Egypt requested US$1bn loan
The World Bank said on Thursday that Egypt has asked for a US$1 billion loan and it will launch talks…
Central Bank leaves interest rates steady
February 2, 2012
Central Bank leaves interest rates steady
The Central Bank left its benchmark overnight deposit and lending rates unchanged on Thursday, contrary to the forecasts of some…