Business
World Bank head expects ‘tensions’ over US$1bn loan
February 10, 2012
World Bank head expects ‘tensions’ over US$1bn loan
The head of the World Bank expects “tensions” as Egypt negotiatesa US$1 billion loan with the international lender, which could…
Government to inject LE130 million into telecom sector
February 10, 2012
Government to inject LE130 million into telecom sector
The government will lend LE130 million to telecommunications companies to help them overcome the current recession, the communications and information…
Informal economy presents challenges, but also opportunities
February 9, 2012
Informal economy presents challenges, but also opportunities
With Egypt’s economy struggling over the past year, everyone from generals and government officials to presidential candidates and academics have…
January core inflation falls to 6.86 percent
February 9, 2012
January core inflation falls to 6.86 percent
Egypt's core consumer price inflation slowed to 6.86 percent in the year to January from 7.07 in December, the Central…
Optimism toward politics buoys Egyptian stocks
February 8, 2012
Optimism toward politics buoys Egyptian stocks
A strong performance by Egypt's stock market in the last few days, despite a string of negative political and economic…
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…