Business
Officials: Central Bank auction reduces black market dollar price
April 14, 2013
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
April 14, 2013
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
April 12, 2013
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
April 12, 2013
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
April 11, 2013
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’
April 11, 2013
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
April 11, 2013
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
April 10, 2013
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
April 10, 2013
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…
Egypt inflation jumps in March with rise in fuel and food prices
April 10, 2013
Egypt inflation jumps in March with rise in fuel and food prices
Egypt's monthly inflation rate was once again on the rise in March, increasing by 0.8 percent to 8.2 percent, the…