Economy

British businesses ‘lazy and fat’, pro-Brexit trade minister says

British businesses ‘lazy and fat’, pro-Brexit trade minister says

Britain as a trading nation has become "too lazy and too fat" and business leaders are more interested in playing…
‘Times are changing, pay your taxes’, euro zone chief tells corporations

‘Times are changing, pay your taxes’, euro zone chief tells corporations

Multinational companies should refrain from tax-avoidance practices and pay their fair share, the head of euro zone finance ministers said…
Turkey resumes flights to Sharm al-Sheikh on Saturday

Turkey resumes flights to Sharm al-Sheikh on Saturday

Turkish Airlines will resume flights between Istanbul and the resort city of Sharm al-Sheikh on Saturday after 11 months of…
Egypt receives first tranche of $3 bn World Bank loan

Egypt receives first tranche of $3 bn World Bank loan

The World Bank has handed over to Egypt the first tranche of a US$3 billion loan to support the government's…
Sisi ratifies law replacing sales tax with VAT

Sisi ratifies law replacing sales tax with VAT

President Abdel Fattah al-Sisi has ratified the new law on Value Added Tax (VAT), according to a report in The…
Egypt’s annual inflation hits 15.5 percent in August

Egypt’s annual inflation hits 15.5 percent in August

Egypt's state statistics bureau says the annual inflation rate in urban areas reached 15.5 percent in August, a surge of…
Egypt’s ergot saga deepens as wheat rejected in Romania

Egypt’s ergot saga deepens as wheat rejected in Romania

Egyptian state inspectors have rejected a 63,000 ton shipment of wheat at its Romanian port of origin after checking for…
Egypt eyes $2-3 bln deposit from Saudi Arabia to help seal IMF deal

Egypt eyes $2-3 bln deposit from Saudi Arabia to help seal IMF deal

Egypt is in advanced talks with Saudi Arabia to secure a new deposit worth $2-3 billion as part of about…
Italian investor seeks to lure wealthy tourists to Sharm el-Sheikh

Italian investor seeks to lure wealthy tourists to Sharm el-Sheikh

An Italian property developer with investments in Egyptian tourism has launched an initiative to lure Italian tourists back to Sharm…
Egypt’s budget deficit rises by 16.8 pct yr/yr in first nine months

Egypt’s budget deficit rises by 16.8 pct yr/yr in first nine months

Egypt's budget deficit rose by 16.8 percent to 254.9 billion Egyptian pounds ($28.71 billion) in the first nine months of…
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