Business
Egypt says deficit not to exceed LE144 bn
March 13, 2012
Egypt says deficit not to exceed LE144 bn
Egypt's finance minister denied a report published on Monday that the government had raised its budget deficit forecast for this…
SCAF takes strike-breaking into its own hands
March 13, 2012
SCAF takes strike-breaking into its own hands
While the independent trade union movement has flourished over the past year, the Supreme Council of the Armed Forces has…
Majid Al Futtaim eyes $500 mn Egypt loan, sources say
March 12, 2012
Majid Al Futtaim eyes $500 mn Egypt loan, sources say
DUBAI/LONDON — Dubai-based developer Majid Al Futtaim has picked two Egyptian banks to arrange a loan worth around US$500 million…
European bank criticized for encouraging Mubarak-era policies
March 12, 2012
European bank criticized for encouraging Mubarak-era policies
The Egyptian Initiative for Personal Rights issued this month a scathing critique of the European Bank for Reconstruction and Development’s…
Elections, employee bonuses raise budget deficit
March 12, 2012
Elections, employee bonuses raise budget deficit
The Finance Ministry expects the state budget deficit for the fiscal year 2011/2012 to rise to LE150 billion because of…
Egypt, Iraq sign agreement on owed remittances
March 11, 2012
Egypt, Iraq sign agreement on owed remittances
Egypt and Iraq said that they are putting the final touches on a deal for a compensation package estimated at…
Eurozone instability threatens Egypt
March 11, 2012
Eurozone instability threatens Egypt
As the country struggles to get back on its economic feet, Egypt’s neighbors across the Mediterranean may be on the…
Gas and butane prices pushed inflation up to 10.9% in February
March 10, 2012
Gas and butane prices pushed inflation up to 10.9% in February
The urban consumer price index for February this year was 121.1 versus 110.9 a year earlier, pushed up by the…
Government to officially sign IMF loan agreement in March
March 9, 2012
Government to officially sign IMF loan agreement in March
The government has officially agreed to sign a deal with the International Monetary Fund for a loan worth US$3.2 billion…
Government buys 18–20 gas oil cargoes in tender
March 9, 2012
Government buys 18–20 gas oil cargoes in tender
State-owned Egyptian General Petroleum Corp (EGPC) has awarded a tender to buy 18–20 cargoes of gas oil between March and…