Business

LE114 billion to be allocated for subsidizing petrol in the new budget

LE114 billion to be allocated for subsidizing petrol in the new budget

Executive director of the Egyptian General Petroleum Corporation (EGPC) Hani Dahi said subsidies allocated for petroleum products will jump to…
Finance Ministry to offer LE2.5 bn in reopened bonds

Finance Ministry to offer LE2.5 bn in reopened bonds

The Finance Ministry will offer LE2.5 billion (US$414.1 million) in reopened bonds at an auction on 23 April, the Central…
Brotherhood businessman urges business to play role in development

Brotherhood businessman urges business to play role in development

One month after the regime of former President Hosni Mubarak fell, in March 2011, Hassan Malek was released from jail.…
Muslim Brotherhood to launch chain store

Muslim Brotherhood to launch chain store

Investors affiliated with the Muslim Brotherhood plan to launch a chain store in two months, which they expect to acquire…
Tourism declines 28.6% in January 2012

Tourism declines 28.6% in January 2012

The number of tourists visiting Egypt has dropped by 28.6 percent in January 2012 in comparison to last year, according…
SCAF-amended investment law used to reconcile Shebin El Kom

SCAF-amended investment law used to reconcile Shebin El Kom

A controversial law on investment pushed through by the ruling military council in January is being used to reconcile a…
Finance minister expects to get IMF loan by end-June

Finance minister expects to get IMF loan by end-June

Egypt's government expects to seal a loan from the International Monetary Fund by 15 May, allowing the money to be…
France Telecom finalizes terms of Mobinil buyout

France Telecom finalizes terms of Mobinil buyout

PARIS/CAIRO — France Telecom has finalized a deal to buy most of its partner's stake in Egyptian mobile operator Mobinil…
IMF loan stalled by FJP and government politicking

IMF loan stalled by FJP and government politicking

Amid the commotion surrounding Egypt's presidential elections and the drafting of a new constitution, the Muslim Brotherhood has taken its…
New mobile rules would only affect new entrants, official says

New mobile rules would only affect new entrants, official says

Proposed amendments to an Egyptian law requiring mobile telecom operators to give a percentage of their shares to citizens would…
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