Business

Finance Ministry to allocate LE13.5 bn to EGPC

Finance Ministry to allocate LE13.5 bn to EGPC

The Finance Ministry has earmarked LE13.5 billion for the Egyptian General Petroleum Corporation (EGPC) in the new state budget to…
Egypt seals US$3 billion IMF accord

Egypt seals US$3 billion IMF accord

The International Monetary Fund (IMF) agreed a US$3 billion financing deal with Egypt on Sunday and praised the policies of…
Experts expect interest rates to remain steady, inflation to rise

Experts expect interest rates to remain steady, inflation to rise

Economic experts expect the Central Bank of Egypt (CBE) to keep interest rates at their current levels to encourage investment…
IMF welcomes Egypt budget reforms, businessmen skeptical

IMF welcomes Egypt budget reforms, businessmen skeptical

The International Monetary Fund (IMF) welcomed the social reforms announced by the Egyptian government as part of the state budget…
Japanese govt loans Egypt LE300 million to complete Grand Egyptian Museum

Japanese govt loans Egypt LE300 million to complete Grand Egyptian Museum

The Japanese Government granted Egypt a LE300 million loan to complete the last phase of the Grand Egyptian Museum (GEM)…
Revolution leaves Egypt without dictator, but also without tourists

Revolution leaves Egypt without dictator, but also without tourists

As political turmoil and sectarian strife continue to afflict post-uprising Egypt, the tourism industry is struggling to get its high…
New taxes cause LE7.5 bn in losses on stock exchange

New taxes cause LE7.5 bn in losses on stock exchange

The main index of the Egyptian stock exchange fell by 2.6 percent on Thursday in response to the government levying…
Egypt reviews re-start of gas exports to Israel

Egypt reviews re-start of gas exports to Israel

Egypt is reviewing the timetable for resuming gas exports to Israel and wants to negotiate more flexible contracts with foreign…
Egypt’s budget targets poor, introduces capital gains tax

Egypt’s budget targets poor, introduces capital gains tax

Egypt's cabinet approved on Wednesday a budget for the 2011/12 financial year that increases spending by a quarter as the…
Ministry to sell low-cost Sudanese meat

Ministry to sell low-cost Sudanese meat

The Ministry of Agriculture will offer Sudanese meat at the ministry’s outlets in Cairo, Giza and other governorates starting Saturday…
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