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New budget ‘represents the past,’ says former Finance Minister

New budget ‘represents the past,’ says former Finance Minister

Samir Radwan, the former Finance Minister, said that the current state budget “represents the past” and that it “would not…
Finance Minister: Budget will bear cost of raise in salaries and pensions

Finance Minister: Budget will bear cost of raise in salaries and pensions

Finance Minister Momtaz al-Saeed has said that the state budget will bear the cost of the social allowance for salaries…
New government to approach IMF soon, finance aide says

New government to approach IMF soon, finance aide says

Egypt will approach the International Monetary Fund and other financial institutions to help get its economy back on track once…
Benchmark index jumps 4.7 percent after Morsy takes office

Benchmark index jumps 4.7 percent after Morsy takes office

The benchmark index jumped 4.7 percent in the first few minutes of trading on Monday after newly elected President Mohamed…
Is the govt covering up the cause of the fuel shortage?

Is the govt covering up the cause of the fuel shortage?

Egypt has been in the grips of an on-again, off-again fuel shortage for over a year now, with massive lines…
Egypt’s Elsewedy Electric to invest US$350 million in Niger

Egypt’s Elsewedy Electric to invest US$350 million in Niger

NIAMEY — Egypt's Elsewedy Electric, the Arab world's biggest listed cable maker, plans to enter Niger by investing about US$350…
Govt to accept US$1 bln loan from Islamic Development Bank

Govt to accept US$1 bln loan from Islamic Development Bank

Planning and International Cooperation Minister Fayza Abouelnaga said a US$1 billion loan from the International Islamic Trade Finance Corporation, which…
Demonstrations brought growth rate down, says Abouelnaga

Demonstrations brought growth rate down, says Abouelnaga

Planning and International Cooperation Minister Fayza Abouelnaga has said that instability and the mounting labor demonstrations represented a huge challenge…
Egypt index advances 3rd day after after Morsy’s victory

Egypt index advances 3rd day after after Morsy’s victory

  Egypt's main index gains for a third day after Mohamed Morsy 's presidential victory boosted hopes for a smooth…
Stock market rises Tuesday

Stock market rises Tuesday

Egyptian stock market indices gained on Tuesday morning, encouraged by optimism following the announcement of the results from the presidential…
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