Business
Authority pursues LE20 bln in late taxes
January 2, 2013
Authority pursues LE20 bln in late taxes
Tax officials are pursuing LE20 billion in back taxes this fiscal year as part of an effort to exceed last…
Al-Azhar: Ministry-proposed bonds at odds with Sharia
January 2, 2013
Al-Azhar: Ministry-proposed bonds at odds with Sharia
Members at Al-Azhar's Islamic Research Academy have rejected a Finance Ministry-proposed bill sanctioning the introduction of Islamic financial bonds, saying…
Egypt takes provisions ahead of expected food price hikes
January 1, 2013
Egypt takes provisions ahead of expected food price hikes
An official at the Investment Ministry said that state budget allocations for food and commodities will be increased in order…
Foreign reserves at critical low, Central Bank says
December 31, 2012
Foreign reserves at critical low, Central Bank says
Foreign reserves are now at a critical low and must be maintained to repay the foreign debt to preserve the…
IMF welcomes Egypt’s effort to safeguard reserves
December 31, 2012
IMF welcomes Egypt’s effort to safeguard reserves
The International Monetary Fund said Monday that it welcomed steps Egypt has taken to stop a drain on its international…
Agency: Egypt budget deficit expected to widen to LE200 bn
December 31, 2012
Agency: Egypt budget deficit expected to widen to LE200 bn
Egypt's budget deficit in the year to end-June 2013 could widen by 50 percent from the original forecast made in…
Dollar selling price reaches LE6.42 in banks, exchange bureaus
December 31, 2012
Dollar selling price reaches LE6.42 in banks, exchange bureaus
The dollar continued to rise against the Egyptian pound during trading on Monday in banks and exchange bureaus, despite the…
Central bank offers US$75 mln at 2nd currency auction
December 31, 2012
Central bank offers US$75 mln at 2nd currency auction
Egypt's central bank said it was offering to sell US$75 million to banks on Monday at its second foreign currency…
State budget suffers incurable disease, says finance minister
December 30, 2012
State budget suffers incurable disease, says finance minister
The state budget suffers from an incurable disease, with resources only covering 60 percent of public expenditures, state-owned Nile…