Business
Egypt’s stock market up on 2012 optimism, Central Bank cancels auctions
January 2, 2012
Egypt’s stock market up on 2012 optimism, Central Bank cancels auctions
Optimism for the year ahead lifted Egypt's stock market on Monday and Egypt's benchmark index rose 1.6 percent as Egypt's…
Government allocates LE175 million for development of slums
January 2, 2012
Government allocates LE175 million for development of slums
Prime Minister Kamal al-Ganzouri allocated a budget of LE175 million for the development of slum areas throughout Egypt. The budget…
Bankruptcies up by 26 percent, says cabinet
January 1, 2012
Bankruptcies up by 26 percent, says cabinet
In 2011, bankruptcies increased by 26 percent in comparison to the year before, according to a report released by the…
Egypt confirms Cyprus gas discovery is beyond Egyptian waters
January 1, 2012
Egypt confirms Cyprus gas discovery is beyond Egyptian waters
Egypt's Ministry of Petroleum has confirmed that a natural gas reserve recently discovered off the coast of Cyprus, does not…
Hotel occupancy down in Cairo and Sharm el-Sheikh
January 1, 2012
Hotel occupancy down in Cairo and Sharm el-Sheikh
Hotel occupancy in Cairo and the resort city of Sharm al-Sheikh has plunged from 2010, according to the head of…
A year in review: After a tough year, Egypt’s economic future still uncertain
December 31, 2011
A year in review: After a tough year, Egypt’s economic future still uncertain
In 2011, the Egyptian economy took a pummeling from the revolution. In 2012, it looks like it will be coming…
Fitch downgrades Egypt credit rating over security, political conditions
December 31, 2011
Fitch downgrades Egypt credit rating over security, political conditions
Fitch Ratings dropped Egypt’s credit rating by one notch to BB, which reflects the substantial and continuous erosion of Egypt's…
Minister: Egypt tourism down 30% in 2011
December 30, 2011
Minister: Egypt tourism down 30% in 2011
The number of tourists who visited Egypt in 2011 was one-third less than in 2010, Egypt's Tourism Minister Mounir Fakhry…
Egypt expects tourism rebound in 2012, security key
December 30, 2011
Egypt expects tourism rebound in 2012, security key
Egypt expects tourism revenues to rebound by more than a third next year if the country's security situation improves in…
Activists challenge European Investment Bank’s ties to EFG Hermes
December 29, 2011
Activists challenge European Investment Bank’s ties to EFG Hermes
The Egyptian investment bank EFG Hermes had Gamal Mubarak, once considered the next heir to Egypt’s presidency and now on…