Business

Stock market declines on Monday

Stock market declines on Monday

The Egyptian stock market declined on Monday, with its main index, EGX30, dropping by 0.48 percent to register 5275 points.…
Officials: Central Bank auction reduces black market dollar price

Officials: Central Bank auction reduces black market dollar price

A US$600 million auction proposed by the Central Bank of Egypt Sunday reduced price of dollars on the black market…
Bankers debate financing Egypt’s widening budget deficit

Bankers debate financing Egypt’s widening budget deficit

Egypt’s budget deficit reached about LE146.5 billion in the first eight months of fiscal year 2012/13, equaling 8.2 percent of…
IMF mission to meet ElBaradei, Sabbahi Saturday

IMF mission to meet ElBaradei, Sabbahi Saturday

The International Monetary Fund delegation is scheduled to meet with Dostour Party founder Mohamed ElBaraei and Popular Current party founder…
Egypt crisis threatens food for poorest: World Food Programme

Egypt crisis threatens food for poorest: World Food Programme

The nation's economic crisis poses a threat to basic nutrition for its population of 84 million people, as the poorest…
Govt to hold more talks with IMF on loan next week

Govt to hold more talks with IMF on loan next week

The Cabinet has made progress in talks with the International Monetary Fund (IMF) on a US$4.8 billion loan and will…
Rushed customs tariffs hike may be ‘too little, too late’

Rushed customs tariffs hike may be ‘too little, too late’

President Mohamed Morsy issued a decree in late March that increased custom duties on 100 luxury products, an unsurprising move…
Egypt hits 2-wk high after funding pledge

Egypt hits 2-wk high after funding pledge

The stock exchange hit a two-week high on Thursday after Qatar and Libya pledged US$5 billion in funding to a…
Egypt gets US$2 bn loan from Libya

Egypt gets US$2 bn loan from Libya

Egypt and Libya finalized a US$2 billion loan agreement Wednesday evening to shore up the Egyptian economy and foreign reserves,…
Barclays Egypt starts adopting expansion plans

Barclays Egypt starts adopting expansion plans

  Barclays Egypt has begun adopting its expansion plans to add more branches in Egypt this year, after it re-opened…
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