Business
Ministry examines how to finance budget
July 3, 2011
Ministry examines how to finance budget
Officials from the Finance Ministry held meetings over the past two days to examine ways of financing the state budget…
IMF places US$3bn at disposal of Egypt
July 2, 2011
IMF places US$3bn at disposal of Egypt
The International Monetary Fund (IMF) has placed US$3 billion at the disposal of Egypt to use whenever it wishes, even…
Stock market loses more than LE88bn in first half of 2011
July 2, 2011
Stock market loses more than LE88bn in first half of 2011
The Egyptian stock market lost LE88.5 billion of its market capital in the first half of 2011 and its indexes…
Govt to reduce petroleum subsidies
July 1, 2011
Govt to reduce petroleum subsidies
The Petroleum and Solidarity and Social Justice ministries are scheduled to begin reducing petroleum product subsidies in July. The plan…
IMF cancels Cairo visit after military council rejects foreign loans
July 1, 2011
IMF cancels Cairo visit after military council rejects foreign loans
A source close to the International Monetary Fund (IMF) said the fund cancelled a visit to Cairo scheduled for July…
Egyptian pound trades near six-year low after protests
June 30, 2011
Egyptian pound trades near six-year low after protests
The Egyptian pound moved within reach of a 6-year low after violent protests rocked central Cairo on Wednesday and following…
US to forgive a third of Egypt’s debt over 3 years
June 30, 2011
US to forgive a third of Egypt’s debt over 3 years
The United States has agreed to cancel one-third of Egypt's debts over the course of three years, the state news…
Experts warn of negative credit ratings affecting foreign investment
June 29, 2011
Experts warn of negative credit ratings affecting foreign investment
Economists have warned that negative credit ratings for the Egyptian economy would adversely affect foreign investment. The international rating agency…
Ethiopia plans power exports to Egypt
June 29, 2011
Ethiopia plans power exports to Egypt
ADDIS ABABA--Ethiopia plans to sell power to Sudan, Yemen, Kenya and even Egypt, with whom it is at odds over…
Egypt’s stock market tumbles on new Tahrir clashes
June 29, 2011
Egypt’s stock market tumbles on new Tahrir clashes
The Egyptian stock exchange's benchmark index has tumbled over two percent amid fresh clashes between security forces and protesters in…