Business
SCAF set to approve state budget, says Cabinet source
June 20, 2012
SCAF set to approve state budget, says Cabinet source
The Supreme Council of the Armed Forces is set to approve the state budget for the fiscal year 2012/2013 within…
Economists warn of setback due to uncertain political situation
June 20, 2012
Economists warn of setback due to uncertain political situation
Some economists have expressed fears of an approaching setback to the nation’s economy because of the lack of vision for…
Egypt market extends drop on uncertain election outcome
June 18, 2012
Egypt market extends drop on uncertain election outcome
Egypt's main share index drops 3.4 percent to its lowest since 26 January, extending a decline after a weekend…
Stock exchange opens trading with LE1.6 billion loss
June 18, 2012
Stock exchange opens trading with LE1.6 billion loss
Stocks fell by one percent after the Muslim Brotherhood said on Monday that its candidate won the presidential election and…
Central Bank: Economy to grow under 2 percent in 2012
June 17, 2012
Central Bank: Economy to grow under 2 percent in 2012
Egypt's economic growth will slow to under two percent this year from 2.5 per cent last year because of political…
Arab Monetary Fund in $65 million loan to Egypt
June 17, 2012
Arab Monetary Fund in $65 million loan to Egypt
ABU DHABI — The Arab Monetary Fund (AMF) said on Sunday it was arranging a $65 million credit facility for Egypt…
Fitch downgrades Egypt currency rating over political uncertainties
June 15, 2012
Fitch downgrades Egypt currency rating over political uncertainties
Fitch Ratings said it had downgraded Egypt's long-term foreign currency rating from BB- to B+ with a negative outlook because…
IMF to resume talks with Egypt after election
June 15, 2012
IMF to resume talks with Egypt after election
IMF spokesperson Gerry Rice said Friday that the fund is ready to support Egypt during the transitional period and plans…
Central Bank to start 28-day repos in July
June 15, 2012
Central Bank to start 28-day repos in July
Egypt's Central Bank will introduce 28-day repurchase agreements (repos) on 10 July, a move one banker said was designed to…
In new region, EBRD told to proceed with caution
June 13, 2012
In new region, EBRD told to proceed with caution
Under Hosni Mubarak’s 30-year reign, “the private sector” and “privatizations” became politically laden terms associated with a circle of businessmen…