Business
Draft law threatens independent unions, but workers vow to fight
March 14, 2012
Draft law threatens independent unions, but workers vow to fight
A new draft law introduced in Parliament threatens to dissolve the independent trade unions that have sprung up in various…
Stock market recovers as political tension eases, IMF team plans visit for next week
March 14, 2012
Stock market recovers as political tension eases, IMF team plans visit for next week
Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities. The stock exchange had…
Five airlines at Cairo airport cancel flights for lack of passengers
March 14, 2012
Five airlines at Cairo airport cancel flights for lack of passengers
Five airline companies operating out of Cairo International Airport canceled their flights Wednesday due to an absence of passengers, airport…
Plan to save economy underway, says cabinet
March 14, 2012
Plan to save economy underway, says cabinet
The cabinet is implementing a quick and comprehensive plan to revamp the economy and tame the budget deficit, the foreign…
Egypt says deficit not to exceed LE144 bn
March 13, 2012
Egypt says deficit not to exceed LE144 bn
Egypt's finance minister denied a report published on Monday that the government had raised its budget deficit forecast for this…
SCAF takes strike-breaking into its own hands
March 13, 2012
SCAF takes strike-breaking into its own hands
While the independent trade union movement has flourished over the past year, the Supreme Council of the Armed Forces has…
Majid Al Futtaim eyes $500 mn Egypt loan, sources say
March 12, 2012
Majid Al Futtaim eyes $500 mn Egypt loan, sources say
DUBAI/LONDON — Dubai-based developer Majid Al Futtaim has picked two Egyptian banks to arrange a loan worth around US$500 million…
European bank criticized for encouraging Mubarak-era policies
March 12, 2012
European bank criticized for encouraging Mubarak-era policies
The Egyptian Initiative for Personal Rights issued this month a scathing critique of the European Bank for Reconstruction and Development’s…
Elections, employee bonuses raise budget deficit
March 12, 2012
Elections, employee bonuses raise budget deficit
The Finance Ministry expects the state budget deficit for the fiscal year 2011/2012 to rise to LE150 billion because of…
Egypt, Iraq sign agreement on owed remittances
March 11, 2012
Egypt, Iraq sign agreement on owed remittances
Egypt and Iraq said that they are putting the final touches on a deal for a compensation package estimated at…