Business
Berlusconi resignation fails to convince markets
November 9, 2011
Berlusconi resignation fails to convince markets
ROME — Prime Minister Silvio Berlusconi's pledge to resign after implementing economic reforms did nothing on Wednesday to staunch a…
Solidarity Ministry to set 30% profit ceiling on commodity sales
November 8, 2011
Solidarity Ministry to set 30% profit ceiling on commodity sales
Solidarity and Social Justice Minister Gouda Abdel Khaleq said he will begin discussions with the Federation of Egyptian Chambers of…
Banks increase interest rates to attract deposits
November 6, 2011
Banks increase interest rates to attract deposits
Egyptian public and private banks are competing to raise the interest rates of certain services, which some experts consider an…
Hajj prices cast shadow over pilgrimage season in Egypt
November 5, 2011
Hajj prices cast shadow over pilgrimage season in Egypt
Prices for the Islamic pilgrimage season, which began on Saturday, continue to rise this year. Tourism companies, which control around…
IMF concludes visit to Egypt, no word on aid
November 5, 2011
IMF concludes visit to Egypt, no word on aid
The International Monetary Fund wrapped up a mission to Egypt saying the country faced economic challenges but gave no word…
Egypt announces new oil discovery in Sinai
November 5, 2011
Egypt announces new oil discovery in Sinai
Belayim Petroleum Company has made a new oil discovery in Sinai, the Ministry of Petroleum announced on Friday. The head…
Egypt lost US$2 billion from cash reserves in October, says Central Bank
November 3, 2011
Egypt lost US$2 billion from cash reserves in October, says Central Bank
Egypt's Central Bank lost US$2 billion from its international cash reserves in October, bringing its reserves down from $24.1 billion…
Suez Canal revenues, expat remittances up despite revolution
November 3, 2011
Suez Canal revenues, expat remittances up despite revolution
Despite the revolution and global financial troubles, some sectors of the Egyptian economy have attained stable performance and growth rates,…
Egypt says IMF options open, has not asked for funds
October 31, 2011
Egypt says IMF options open, has not asked for funds
Egypt is open to IMF funding, but the country has not made any formal request for aid since turning down…
Transportation Ministry projects frozen due to security void
October 31, 2011
Transportation Ministry projects frozen due to security void
Projects Egypt’s Transportation Ministry had planned for 2011 and 2012 have been completely halted since the revolution broke out on…