Business
IMF sending mission to Egypt for aid negotiations
January 12, 2012
IMF sending mission to Egypt for aid negotiations
The International Monetary Fund confirmed Thursday it was sending a mission to Egypt to discuss possible financial aid to the…
Central Bank denies holding $9 billion in secret Mubarak accounts
January 12, 2012
Central Bank denies holding $9 billion in secret Mubarak accounts
Egypt's Central bank denied on Thursday that ousted Egyptian President Hosni Mubarak has US$9 billion deposited there. Former deputy head…
Brotherhood forms business association to attract investment
January 11, 2012
Brotherhood forms business association to attract investment
The Muslim Brotherhood will form a business association to attract investment in Egypt’s economy, the group has announced. The Brotherhood…
Economy will recover once security is restored, say experts
January 10, 2012
Economy will recover once security is restored, say experts
Economists have forecast that the Egyptian economy will recover once the security situation in Egypt returns to normal. “Restoring security…
Egypt calls on Washington to fulfill pledges of economic aid
January 10, 2012
Egypt calls on Washington to fulfill pledges of economic aid
Egyptian Trade and Industry Minister Mahmoud Issa on Tuesday warned the United States and Arab states that they would lose…
Govt’s plan to reduce spending unfeasible, say experts
January 9, 2012
Govt’s plan to reduce spending unfeasible, say experts
The government’s plan reduce spending to offset the budget deficit is unfeasible, conventional and bureaucratic, experts have said. The plan…
Government reaches agreement with Arab investors over state-owned land
January 9, 2012
Government reaches agreement with Arab investors over state-owned land
Egypt’s government has reached a settlement with certain Arab investors regarding state-owned land they purchased from the Egyptian government at…
Law on maximum wages to become effective in February
January 8, 2012
Law on maximum wages to become effective in February
The law on a maximum wage for the public sector is to become effective in the beginning of February, an…
Central Bank: Foreign reserves hit 7-year low in December
January 8, 2012
Central Bank: Foreign reserves hit 7-year low in December
The Egyptian foreign reserves continued to decline in December 2011, standing at US$18.1 billion, the lowest it has been in…
Egypt’s foreign reserves drop to $18.12 billlion
January 5, 2012
Egypt’s foreign reserves drop to $18.12 billlion
Egypt's foreign reserves dropped to US$18.12 billion at the end of December from $20.15 billion a month earlier, the Central…