Business
Minimum wage reduced to LE684 in new state budget
July 4, 2011
Minimum wage reduced to LE684 in new state budget
Field Marshal Mohamed Hussein Tantawy, head of the Supreme Council of the Armed Forces (SCAF), has endorsed the 2011/2012 state…
Egypt to fund budget gap via local market, Arab help
July 4, 2011
Egypt to fund budget gap via local market, Arab help
ABU DHABI--Egypt plans to fund its 134 billion Egyptian pound budget deficit through a combination of local market issuance and…
CBE: June cash reserve losses total US$700mn
July 4, 2011
CBE: June cash reserve losses total US$700mn
Egypt's cash reserve lost US$700 million in June. By the end of the month it was $26.5 billion, compared to…
Pensions expenditure increased by LE9 billion in state budget, says finance minister
July 3, 2011
Pensions expenditure increased by LE9 billion in state budget, says finance minister
Finance Minister Samir Radwan, in a press conference of Sunday, said that the Supreme Council of the Armed Forces approved…
Egypt and Jordan to sign new gas deal by end of July
July 3, 2011
Egypt and Jordan to sign new gas deal by end of July
Egypt and Jordan will sign a revised agreement for the export of Egyptian natural gas before the end of July,…
Ministry examines how to finance budget
July 3, 2011
Ministry examines how to finance budget
Officials from the Finance Ministry held meetings over the past two days to examine ways of financing the state budget…
IMF places US$3bn at disposal of Egypt
July 2, 2011
IMF places US$3bn at disposal of Egypt
The International Monetary Fund (IMF) has placed US$3 billion at the disposal of Egypt to use whenever it wishes, even…
Stock market loses more than LE88bn in first half of 2011
July 2, 2011
Stock market loses more than LE88bn in first half of 2011
The Egyptian stock market lost LE88.5 billion of its market capital in the first half of 2011 and its indexes…
Govt to reduce petroleum subsidies
July 1, 2011
Govt to reduce petroleum subsidies
The Petroleum and Solidarity and Social Justice ministries are scheduled to begin reducing petroleum product subsidies in July. The plan…
IMF cancels Cairo visit after military council rejects foreign loans
July 1, 2011
IMF cancels Cairo visit after military council rejects foreign loans
A source close to the International Monetary Fund (IMF) said the fund cancelled a visit to Cairo scheduled for July…