Business

Trade Ministry learns of tax increases from newspapers

Trade Ministry learns of tax increases from newspapers

The Ministry of Trade and Industry learned of the increased taxes on iron, cement and cigarettes from newspaper articles, said…
Egypt stock market down by 4%

Egypt stock market down by 4%

Egyptian stocks saw a collective drop amid a similar downturn in global markets fueled by fears that the fall out…
Private sector allowed to secure energy for power stations

Private sector allowed to secure energy for power stations

Alexandria--Petroleum Minister Sameh Fahmy announced his ministry's approval to allow the private sector to secure as much energy as is…
Cement traders lower prices to offset poor sales

Cement traders lower prices to offset poor sales

Cement sales have declined sharply due to slower building and construction activity throughout Egypt.The drop in demand has prompted several…
Taxes to be raised on steel, cement, cigarettes

Taxes to be raised on steel, cement, cigarettes

Parliament's planning and budget committee on Tuesday approved funding of LE7.5 billion for the 2010/11 state budget, of which LE2…
Low sales force iron factories to cut prices

Low sales force iron factories to cut prices

Iron factories reduced their prices by LE200-300 in mid May due to a sharp decline in sales during the months…
Businessman fails to pay debts to Misr Bank

Businessman fails to pay debts to Misr Bank

Rami Lakah, a businessman who fled to Europe in 2001 and returned to Egypt recently, hasn't yet repaid the first…
Rules governing public-private sector participation to be released

Rules governing public-private sector participation to be released

The Finance Ministry will begin preparing the executive rules of the law, which delineates how the private sector may participate…
EBRD: Euro Zone crisis to hit emerging Europe

EBRD: Euro Zone crisis to hit emerging Europe

Zagreb--The euro zone deficit crisis will prompt fiscal cuts that will hit demand for exports from central and Eastern Europe…
North Alexandria gas agreement awaiting approval

North Alexandria gas agreement awaiting approval

Prime Minister Ahmed Nazif and Sameh Fahmi, minister of Petroleum, held a meeting yesterday with two companies involved in petroleum…
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