Business
Business owners feel effects of Egyptian currency’s depreciation
December 27, 2011
Business owners feel effects of Egyptian currency’s depreciation
After Egyptian pound slid to its lowest value in seven years this week, Egyptian business owners are feeling its effects.…
IMF cancels planned Cairo visit to negotiate loan
December 26, 2011
IMF cancels planned Cairo visit to negotiate loan
The International Monetary Fund (IMF) cancelled a planned January visit in Cairo to negotiate a loan of US$3.2 billion, an…
Rights report: Teachers recorded largest number of protests in December
December 26, 2011
Rights report: Teachers recorded largest number of protests in December
The education sector saw the largest number of strikes of any sector during the first half of December, according to…
Govt issues bonds to stem decline of foreign reserves
December 25, 2011
Govt issues bonds to stem decline of foreign reserves
The Finance Ministry recently offered treasury bills worth US$2.5 billion in an effort to improve cash flow and stem withdrawals…
Egypt, Jordan sign amended gas deal
December 21, 2011
Egypt, Jordan sign amended gas deal
Egypt and Jordan on Wednesday signed an agreement amending the price of gas exported to Jordan. The deal was signed…
Experts question government efforts to promote investment
December 21, 2011
Experts question government efforts to promote investment
Investors and experts have criticized a recent announcement by Prime Minister Kamal al-Ganzouri that the government is seeking to attract…
Tourist arrivals drop 24% in third quarter
December 21, 2011
Tourist arrivals drop 24% in third quarter
Tourism in Egypt was down almost 24 percent for the third quarter of 2011 compared to the same period last…
Cabinet to challenge re-nationalization of cotton company
December 20, 2011
Cabinet to challenge re-nationalization of cotton company
The cabinet is considering making a legal challenge to a court ruling annulling the privatization of the Nile Cotton Ginning…
Government to reduce spending in bid to offset budget deficit
December 19, 2011
Government to reduce spending in bid to offset budget deficit
A Finance Ministry official has said that the government plans to reduce its spending in order to offset the state…