Egypt economy
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
Business
March 22, 2013
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
Moody's cut Egypt's credit rating on Thursday, citing unsettled political conditions and public finances, which it said raised the chance…
Central Bank raises rates to curb inflation, support pound
Business
March 22, 2013
Central Bank raises rates to curb inflation, support pound
The Central Bank raised interest rates on Thursday, hoping to curb soaring inflation and slow a sliding pound currency, but…
Domestic wheat output of 9.475 mln tons expected this season
Business
March 18, 2013
Domestic wheat output of 9.475 mln tons expected this season
The government expects wheat production of around 9.475 million tons this season if good weather conditions continue, the state news…
World Bank’s IFC plans Egypt currency swaps: CEO
Business
March 18, 2013
World Bank’s IFC plans Egypt currency swaps: CEO
The International Finance Corp plans to conduct currency swaps in Egypt to help local firms meet their foreign exchange needs,…
Govt official heads to Berlin to discuss EU aid to Egypt
Egypt
March 15, 2013
Govt official heads to Berlin to discuss EU aid to Egypt
Essam al-Haddad, President Mohamed Morsy’s assistant for foreign affairs and international cooperation, traveled to Berlin for a two-day visit on…
Payments figures add to pressure for IMF deal
Business
March 15, 2013
Payments figures add to pressure for IMF deal
The country's current account deficit narrowed in July-December, data showed on Thursday, but economists said it remained a major problem…
IMF mission due in Cairo Sunday to discuss economic reforms
Business
March 14, 2013
IMF mission due in Cairo Sunday to discuss economic reforms
An International Monetary Fund delegation is due to arrive in Cairo on Sunday to renew discussions regarding economic reforms,…
Orascom woes weigh market down Thursday; EGX30 drops 2 percent
Business
March 14, 2013
Orascom woes weigh market down Thursday; EGX30 drops 2 percent
A sudden drop in Orascom Construction Industries (OCI) shares on Thursday led the main EGX30 stock index to nosedive by…