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PM: Donors say they want IMF accord first

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

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

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

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

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

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

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

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

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

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…
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