Business
Egypt boosts consumer subsidies in 2011-12 budget
June 1, 2011
Egypt boosts consumer subsidies in 2011-12 budget
Egypt's annual budget approved by the cabinet on Wednesday foresees a 26 percent increase in subsidies of consumer commodities such…
Non-traditional tourism will help recovery, says minister
June 1, 2011
Non-traditional tourism will help recovery, says minister
Egyptian Tourism Minister Mounir Fakhri Abdel Nour said on Wednesday that his ministry would adopt non-traditional methods to compensate for…
Egypt plans new 10% capital gains tax
June 1, 2011
Egypt plans new 10% capital gains tax
Egypt will levy a new capital gains tax on the rich and financial companies, the government said in a statement,…
Finance Ministry raises state employee minimum wage to LE700
June 1, 2011
Finance Ministry raises state employee minimum wage to LE700
Finance Minister Samir Radwan on Wednesday announced his ministry set a new minimum wage for state employees at LE700. …
Egypt’s Citadel swings to 2010 loss on writedowns
June 1, 2011
Egypt’s Citadel swings to 2010 loss on writedowns
Egyptian private equity firm Citadel Capital swung to a net loss last year after it wrote down the value of…
Telecom Egypt Q1 net profit dips 10% but shares go up
June 1, 2011
Telecom Egypt Q1 net profit dips 10% but shares go up
Landline monopoly Telecom Egypt posted a 10 percent drop in first-quarter net income on Wednesday after anti-government protests hit the…
Land withdrawn from officers of former State Security
May 31, 2011
Land withdrawn from officers of former State Security
The Agricultural Development Authority confiscated 3000 acres of land in Ayat from the Kanaria Land Reclamation Company, a company owned…
Egypt gets short-term relief, investors still wary
May 31, 2011
Egypt gets short-term relief, investors still wary
Billions of dollars in aid for Egypt will offer short-term relief to its battered economy but will not be enough…
Major spinning and weaving company reduces yarn prices
May 31, 2011
Major spinning and weaving company reduces yarn prices
The Holding Company for Spinning and Weaving has decided to reduce the price of yarn by LE4 for the local…
Red Sea resorts warned of power outage, asked to pay bills
May 31, 2011
Red Sea resorts warned of power outage, asked to pay bills
Electricity authorities in Egypt's Red Sea Governorate have filed complaints against 30 resorts and hotels owners, warning them that power…