Business
Fitch downgrades Egypt sovereign rating, could cut further
January 30, 2013
Fitch downgrades Egypt sovereign rating, could cut further
NEW YORK — Fitch Ratings cut Egypt's sovereign credit rating Wednesday one notch, to B from B-plus, citing a wider…
IMF loan negotiations continue despite violence
January 30, 2013
IMF loan negotiations continue despite violence
Finance Minister Morsy Hegazy said on Wednesday that talks with the International Monetary Fund are progressing, despite violence plaguing several…
Curfew, unrest is bad news for Canal cities’ business
January 29, 2013
Curfew, unrest is bad news for Canal cities’ business
Businesses remained open on Monday night in Suez, Ismailia, and Port Said, in defiance of curfew from 9 pm to…
Stock market slumps after state of emergency decree
January 28, 2013
Stock market slumps after state of emergency decree
The stock market lost LE4 billion (US$606 million) by the end of the trading day Monday as foreign traders' transactions…
Pound dips as weekend violence prompts caution
January 27, 2013
Pound dips as weekend violence prompts caution
The pound weakened against the dollar Sunday, as street violence and deaths added to the political crisis, extending a steady…
EFG Hermes blames govt for delaying merger deal with QInvest
January 27, 2013
EFG Hermes blames govt for delaying merger deal with QInvest
Egyptian investment bank EFG Hermes in a statement Sunday blamed the government for delaying a merger deal with the Qatari…
As Egypt’s economy suffers, Gulf money moves into banking sector
January 26, 2013
As Egypt’s economy suffers, Gulf money moves into banking sector
As Egypt's banking sector struggles under the weight of a credit crunch, Arab banks are seeing the crisis as an…
Two years on, Mubarak money abroad remains unattainable
January 25, 2013
Two years on, Mubarak money abroad remains unattainable
Nearly two years after demonstrators first started trickling into Tahrir Square, chanting against corrupt government practices and calling for former…
IMF may postpone loan agreement by months
January 24, 2013
IMF may postpone loan agreement by months
Prime Minister Hesham Qandil and International Monetary Fund (IMF) head Christine Lagarde met on Thursday to discuss the future of…
Financial adviser: Multinational banks offer support for Islamic bonds
January 23, 2013
Financial adviser: Multinational banks offer support for Islamic bonds
Multinational banks such as Citibank, Credit Agricole and the Islamic Development Bank expressed willingness to provide support to Egypt in…