Business
HSBC report: Egypt economy to rank 20th in world by 2050
January 17, 2012
HSBC report: Egypt economy to rank 20th in world by 2050
The size of Egypt’s economy will rank 20th in the world by 2050, according to a report issued by international…
Telecom Egypt plans dividend on deferred profits
January 17, 2012
Telecom Egypt plans dividend on deferred profits
Landline monopoly Telecom Egypt plans to issue a dividend of 30 piasters per share on deferred profits, the company said…
Minister: Egypt asked IMF for $3.2 billion loan
January 16, 2012
Minister: Egypt asked IMF for $3.2 billion loan
Egypt has asked the International Monetary Fund for US$3.2 billion in support, a government minister said on Monday, as the…
IMF delegation arrives in Cairo to negotiate loan agreement
January 16, 2012
IMF delegation arrives in Cairo to negotiate loan agreement
A delegation from the International Monetary Fund arrived in Cairo on Monday led by Massoud Ahmed, director of the IMF's…
As Egypt returns to IMF, transparency still lacking
January 15, 2012
As Egypt returns to IMF, transparency still lacking
Though largely billed as the country’s best and last hope to balance a growing budget deficit and to alleviate a…
Suez Canal earnings top $5bn for 2011
January 15, 2012
Suez Canal earnings top $5bn for 2011
Egypt's Suez Canal Authority earned 5.22 billion dollars in revenues 2011, almost half a billion dollars more than the revenues…
Railways authority estimates 2011 losses at LE70 million
January 13, 2012
Railways authority estimates 2011 losses at LE70 million
The Egyptian Railways Authority has lost about LE70 million from 28 January 2011 to 10 January 2012, according to an…
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…