Business
Egypt gets US$1 bn from Saudis, clearing IMF hurdle
May 10, 2012
Egypt gets US$1 bn from Saudis, clearing IMF hurdle
Saudi Arabia has transferred US$1 billion to Egypt's central bank, an Egyptian minister said on Thursday, in a move seen…
Govt sources anticipate free trade zone with Sudan and UAE
May 10, 2012
Govt sources anticipate free trade zone with Sudan and UAE
Prime Minister Kamal al-Ganzouri will soon announce the establishment of a free trade zone between Egypt, Sudan and the United…
New budget would boost spending by 15 percent
May 9, 2012
New budget would boost spending by 15 percent
The Finance Ministry has submitted a draft budget to the cabinet that would increase spending by 15 percent in the…
US official: QIZ will not be affected by halted gas exports
May 9, 2012
US official: QIZ will not be affected by halted gas exports
Israel welcomes the introduction of new areas into the Qualifying Industrial Zones (QIZ) agreement, said an economic official from the US…
State withdraws undeveloped land from investors in Suez
May 9, 2012
State withdraws undeveloped land from investors in Suez
Egyptian authorities on Wednesday began withdrawing plots of state-owned land allocated to businessmen after they failed to set up their…
Ganzouri: LE600 million allocated to support exports till end of fiscal year
May 8, 2012
Ganzouri: LE600 million allocated to support exports till end of fiscal year
Prime Minister Kamal al-Ganzouri decided Tuesday to pump LE600 million into the exports support fund before the end of the…
Shares in Egyptian bank EFG Hermes climb on Qatari deal
May 7, 2012
Shares in Egyptian bank EFG Hermes climb on Qatari deal
Shares in Egypt-based investment bank EFG Hermes rose on Monday following the announcement of an agreement with Qatar's QInvest to…
Plan to abolish subsidies will distribute fuel with coupons, raise gas prices
May 6, 2012
Plan to abolish subsidies will distribute fuel with coupons, raise gas prices
The government is planning the total abolition of subsidies for petroleum products by 2018, with official sources saying gasoline and…
Total cancels US$6 billion project due to political unrest
May 6, 2012
Total cancels US$6 billion project due to political unrest
Total, a French multinational oil and gas company, has withdrawn from a US$6 billion deal it had made with the…