Business
Stock market indices fall amid profit taking
March 8, 2012
Stock market indices fall amid profit taking
The Egyptian Stock Exchange fell significantly during Thursday’s trading session amid sales by foreign investors. The real estate sector suffered…
Government gets US$1.2 bn commodity loan from Islamic bank
March 8, 2012
Government gets US$1.2 bn commodity loan from Islamic bank
The Egyptian government has received a US$1.2 billion credit facility from the International Islamic Trade Finance Corporation (ITFC) to help…
Egypt’s GDP grew by annual 0.4 pct in Q4
March 7, 2012
Egypt’s GDP grew by annual 0.4 pct in Q4
Egypt’s economy grew by an annualized 0.4 percent in the fourth quarter of 2011, indicating the economy is on the…
Egypt projects trade increase with Saudi Arabia after causeway
March 6, 2012
Egypt projects trade increase with Saudi Arabia after causeway
Transport Minister Gamal Mostafa Mohamed al-Sayed said on Tuesday that a causeway between Egypt and Saudi Arabia would increase bilateral trade to an…
Egypt minister sees telecom tender within 4 weeks
March 6, 2012
Egypt minister sees telecom tender within 4 weeks
Egypt will launch a tender for mobile virtual network operator (MVNO) licences within four weeks, the country's communications minister said…
Egypt foreign reserves stand at $15.7 billion
March 4, 2012
Egypt foreign reserves stand at $15.7 billion
Egypt's Central Bank says the country's net foreign reserves dropped again in February, but by less than any month since…
Incoming tourism in Egypt declined during 2011, says government report
March 4, 2012
Incoming tourism in Egypt declined during 2011, says government report
The number of international tourists to Egypt declined during the last quarter of 2011 by 29.2 percent, at 2.9 million…
Tourism falls 28.5% in January
March 2, 2012
Tourism falls 28.5% in January
Tourism rates dropped by 28.5 percent in January according to the latest official statistics, the government's top tourism official told…
Mobile phone subscriptions up 18% in 2011
March 1, 2012
Mobile phone subscriptions up 18% in 2011
The number of mobile phone subscriptions in Egypt rose 18 percent to 83.43 million last year, shrugging off an economic…
Official: LE8 bln wasted from bread subsidy every year
February 29, 2012
Official: LE8 bln wasted from bread subsidy every year
Eight billion Egyptian pounds out of LE20 billion in bread subsidies is wasted, said Anwar al-Naqib, advisor to the minister…