Business

Multi-million dollar loan from China due to arrive in National Bank

Multi-million dollar loan from China due to arrive in National Bank

The National Bank of Egypt said that the US$200 million loan recently granted by the China Development Bank will arrive…
Foreign exchange reserves increase

Foreign exchange reserves increase

Foreign exchange reserves increased by about US$685 million at the end of August after Qatar gave $500 million, the first…
Slow burn: Govt plans gas subsidy cuts, but logistics are unclear

Slow burn: Govt plans gas subsidy cuts, but logistics are unclear

In a bold break with precedent, the 2012/13 state budget presented by former Prime Minister Kamal al-Ganzouri and his Cabinet…
British government inactive on freezing Mubarak regime accounts

British government inactive on freezing Mubarak regime accounts

The British government has allowed 19 members accused of embezzling under the former regime to keep for the past year…
Stock exchange achieves second highest monthly record

Stock exchange achieves second highest monthly record

The Egyptian Stock Exchange achieved unprecedented gains of nearly LE30 billion in August backed by several positive events at the…
Ampal files for Chapter 11 as Egypt natgas halt weighs

Ampal files for Chapter 11 as Egypt natgas halt weighs

Ampal-American Israel Corp filed for Chapter 11 bankruptcy protection as it faces deepening financial troubles in the wake of a…
US delegation in favor of IMF loan, protesters say no

US delegation in favor of IMF loan, protesters say no

The head of the US economic delegation said Wednesday that United States welcomes Egypt's negotiations with the IMF as the…
Qandil discusses proposed aid package with senior US diplomat

Qandil discusses proposed aid package with senior US diplomat

Prime Minister Hesham Qandil met with the US under secretary of state for economic growth on Tuesday to discuss a…
Egypt’s Central Bank sells 513 mn euros of T-bills

Egypt’s Central Bank sells 513 mn euros of T-bills

Egypt's Central Bank sold 513 million euros (US$642 million) worth of euro-denominated T-bills at an inaugural auction on Tuesday, and…
Morsy rules out currency devaluation

Morsy rules out currency devaluation

  Egypt's new president said on Monday he would not impose new taxes or devalue the country's currency and that…
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