Business

Egyptian Resorts posts narrower full-year loss

Egyptian Resorts posts narrower full-year loss

Real estate company Egyptian Resorts posted a narrower full-year loss, helped by new revenue from its Sawari project on the…
IMF chief: Global economy on recovery path, risks remain

IMF chief: Global economy on recovery path, risks remain

BEIJING —The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the…
IMF mission to visit Egypt Monday

IMF mission to visit Egypt Monday

An International Monetary Fund mission will begin a four-day visit to Egypt on Monday to meet with government leaders, after…
Draft law threatens independent unions, but workers vow to fight

Draft law threatens independent unions, but workers vow to fight

A new draft law introduced in Parliament threatens to dissolve the independent trade unions that have sprung up in various…
Stock market recovers as political tension eases, IMF team plans visit for next week

Stock market recovers as political tension eases, IMF team plans visit for next week

Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities. The stock exchange had…
Five airlines at Cairo airport cancel flights for lack of passengers

Five airlines at Cairo airport cancel flights for lack of passengers

Five airline companies operating out of Cairo International Airport canceled their flights Wednesday due to an absence of passengers, airport…
Plan to save economy underway, says cabinet

Plan to save economy underway, says cabinet

The cabinet is implementing a quick and comprehensive plan to revamp the economy and tame the budget deficit, the foreign…
Egypt says deficit not to exceed LE144 bn

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

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

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…
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