Business
US delegation announces joint venture with Abraaj Capital
September 9, 2012
US delegation announces joint venture with Abraaj Capital
The Middle East investment giant Abraaj Capital and the US Overseas Private Investment Corporation (OPIC) are planning to invest US$150…
Qandil: Financial plan aims to cut subsidies, bring people into tax system
September 9, 2012
Qandil: Financial plan aims to cut subsidies, bring people into tax system
Egypt's new prime minister said on Sunday he was finalizing an economic reform plan that would rein in hefty subsidies…
New lands to be available for industrial development
September 9, 2012
New lands to be available for industrial development
Up to 5 million square meters of new lands will be available for industrial investment soon, divided into nine industrial…
Tourism up 23.4% from January to July
September 9, 2012
Tourism up 23.4% from January to July
Tourism Minister Hesham Zaazou said 5,472,700 tourists visited Egypt between January and July 2012, registering an increase of 23.4 percent…
Qatar says to invest US$18 billion in Egypt economy
September 7, 2012
Qatar says to invest US$18 billion in Egypt economy
Qatar said on Thursday it would invest US$18 billion dollars in tourism and industry projects along Egypt's Mediterranean coast over…
Qandil denies reports US will drop US$1 bn in debt
September 4, 2012
Qandil denies reports US will drop US$1 bn in debt
Prime Minister Hesham Qandil denied on Tuesday reports that the US would drop US$1 billion from the country’s debt load.…
In debate over devaluating the pound, officials avoid sparking panic
September 4, 2012
In debate over devaluating the pound, officials avoid sparking panic
In the past year, Egypt has been dealt a series of crippling economic blows, but the Egyptian pound has not…
Egypt needs investments of US$45 billion to meet target growth rate
September 4, 2012
Egypt needs investments of US$45 billion to meet target growth rate
Egypt needs LE276 billion (US$45 billion) in investment this year to meet its targeted growth rate, Prime Minister Hesham Qandil…
Is the government trying to tap into the lucrative mobile phone industry?
September 4, 2012
Is the government trying to tap into the lucrative mobile phone industry?
With a mobile phone in the hands of nearly every Egyptian and three large companies vying to provide customers with…
US nearing deal for $1 billion in Egypt debt relief
September 4, 2012
US nearing deal for $1 billion in Egypt debt relief
The Obama administration is close to a deal with Egypt's new government for US$1 billion in debt relief, a senior…