Business
Energy subsidy expected to increase up to LE140 billion by end of fiscal year
February 5, 2014
Energy subsidy expected to increase up to LE140 billion by end of fiscal year
Petroleum Minister Sherif Ismail said petroleum products subsidy is expected to increase by 10 percent by end of the current…
Currency black market shows limits of Egypt’s recovery
February 4, 2014
Currency black market shows limits of Egypt’s recovery
Egypt's central bank has taken extraordinary steps to prop up its currency and curb a black market in foreign exchange…
Tourism Minister: Gulf tourists rates down 15%
February 3, 2014
Tourism Minister: Gulf tourists rates down 15%
The rates of tourism coming to Egypt from the Gulf countries fell by 15.3 percent during the past year, 2013, compared…
Beblawy in Saudi Arabia to support closer economic ties
February 3, 2014
Beblawy in Saudi Arabia to support closer economic ties
Prime Minister Hazem al-Beblawy heads on Tuesday, accompanied by a large ministerial delegation, to Saudi Arabia on a one-day visit,…
European bank allocates 1 million euros to support Egyptian furniture industry
January 30, 2014
European bank allocates 1 million euros to support Egyptian furniture industry
Ihab Deryas, head of the Egyptian Furniture Export Council, said the European Bank for Reconstruction and Development allocated 1 million…
Source: Saudi Arabia to offer new aid package to Egypt
January 30, 2014
Source: Saudi Arabia to offer new aid package to Egypt
Saudi Arabia will grant Egypt US$5 billion to support the economy after the presidential elections take place, in addition to…
Representative: IFC committed to backing Egypt
January 30, 2014
Representative: IFC committed to backing Egypt
Nada Shousha, Resident Representative of the International Finance Corporation in Egypt, Libya and Yemen, said Thursday that the organization has…
Egypt’s GASC buys US and Russian wheat in tender
January 29, 2014
Egypt’s GASC buys US and Russian wheat in tender
Egypt, the world's biggest importer of wheat, bought 240,000 tonnes of Russian and US soft red winter wheat for shipment…
Investment minister: Egypt, Emirates to establish container yard at US$760 million
January 28, 2014
Investment minister: Egypt, Emirates to establish container yard at US$760 million
Investment Minister Osama Saleh disclosed on Tuesday a joint Egyptian-Emirati investment venture to establish a berth for container handling on…
Experts praise CBE exceptional US$1.5 billion tender
January 27, 2014
Experts praise CBE exceptional US$1.5 billion tender
Central Bank of Egypt (CBE) offered on Monday an exceptional tender to sell US$1.5 billion to banks in order to…