Business

External debt swells

External debt swells

Egypt’s external debt grew by US $4 billion in March 2013 reaching $38.4 billion compared to $34.4 billion in June…
Arab Fund offers to finance Egypt-Saudi power link-up

Arab Fund offers to finance Egypt-Saudi power link-up

Minister of Electricity Ahmed Imam said the Arab Fund for Economic and Social Development has offered to finance Egypt's share…
Sources: curfew delays fuel supply to stations

Sources: curfew delays fuel supply to stations

Despite the availability of oil and diesel surplus, long curfew hours have been delaying the delivery of supplies to oil…
Why Egypt’s pound is not strengthening

Why Egypt’s pound is not strengthening

Take a look at this chart, which the Central Bank has been proudly parading this month:(Bloomberg)It shows how the pound’s…
Kuwait sends 1.25 million barrels of oil to Egypt

Kuwait sends 1.25 million barrels of oil to Egypt

 According to a Kuwaiti petroleum official, Kuwait has sent Egypt 1.25 million barrels of crude oil and 20,000 tons of…
Egypt to use Gulf billions to spur economy

Egypt to use Gulf billions to spur economy

Egypt plans to avoid raising taxes or cutting spending but instead use billions of dollars in aid pledged by Gulf…
Cabinet discuss initiative to end state of emergency

Cabinet discuss initiative to end state of emergency

Deputy Prime Minister Ziad Bahaa Eddin has said Egypt's Cabinet discussed on Tuesday an initiative to end the state of…
Muslim Brotherhood leader’s arrest boosts Egypt

Muslim Brotherhood leader’s arrest boosts Egypt

Egypt's bourse snapped a three-session losing streak on Tuesday after authorities arrested Muslim Brotherhood leader Mohamed Badie, raising hopes among…
Tourists leaving Red Sea by thousands, occupancy drops to 50%

Tourists leaving Red Sea by thousands, occupancy drops to 50%

Approximately 18,000 tourists left Hurghada International Airport on board 130 flights to Europe and Russia over the past two days,…
Minimum, maximum wage law to be submitted Wednesday

Minimum, maximum wage law to be submitted Wednesday

Minister of Manpower and Immigration Kamal Abu Eita has said that he is submitting a draft law on minimum and…
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