Business
SODIC earmarks LE180mn for internal trade projects
May 6, 2010
SODIC earmarks LE180mn for internal trade projects
Development and investment company SODIC has earmarked LE180 million for investment in local trade projects over the next three years.Company…
Egypt’s economy back to normal this year, says minister
May 6, 2010
Egypt’s economy back to normal this year, says minister
The Egyptian economy will return to its normal status this year, Minister of Economic Development Othman Mohamed Othman announced at…
Finance Ministry delays subsidy restructuring
May 6, 2010
Finance Ministry delays subsidy restructuring
The Egyptian government will postpone its plan to restructure subsidies for principle commodities due to the Ministry of Finance's refusal…
Slapdash min wage raises lead to inflation, PM warns
May 5, 2010
Slapdash min wage raises lead to inflation, PM warns
At a meeting with the Egyptian Trade Union Federation on Wednesday, Prime Minister Ahmed Nazif said that any increase in…
New taxi program runs into difficulties
May 4, 2010
New taxi program runs into difficulties
Finance Ministry officials say the ministry's project to encourage Egypt's taxi owners to replace their aging cabs with new automobiles…
Dollar stabilizes against Egyptian pound
May 3, 2010
Dollar stabilizes against Egyptian pound
The US dollar has stabilized against the Egyptian pound after rising by LE0.10 last month. The selling rate for the…
Survey: Meat consumption falls 21% since February
May 3, 2010
Survey: Meat consumption falls 21% since February
A recent survey conducted by Cabinet's Information and Decision Support Center revealed that red meat consumption in Egypt had fallen…
Egypt to build oil refinery worth US$2bn
May 3, 2010
Egypt to build oil refinery worth US$2bn
The Egyptian General Petroleum Corporation (EGPC) has signed a memorandum of understanding with a consortium of Chinese companies to build…
Stock market dips 2.3%
May 3, 2010
Stock market dips 2.3%
Egypt's main stock index lost 2.3 percent yesterday as a result of intensive selling on the part of foreign and…
Auto industry makes tentative recovery
May 2, 2010
Auto industry makes tentative recovery
The local automobile market began to pick up in the past few weeks after being badly bruised by the global…