Business
Strong growth makes 1 in 3 Africans ‘middle class’
May 6, 2011
Strong growth makes 1 in 3 Africans ‘middle class’
Cape Town--Robust economic growth in Africa over the last decade has swelled the size of its middle class to a…
Rising cost of petroleum subsidies may strain state budget
May 6, 2011
Rising cost of petroleum subsidies may strain state budget
Petroleum Minister Abdallah Ghorab said petroleum subsidies could exceed LE100 billion in the fiscal year that starts in July due…
Egypt’s capital expenditure budget set at LE509 billion
May 5, 2011
Egypt’s capital expenditure budget set at LE509 billion
Egypt's capital expenditure budget for the fiscal year 2011/2012 has been set at LE509.3, exceeding the budget for 2010/2011 by…
Egypt dips into foreign reserve for the first time
May 4, 2011
Egypt dips into foreign reserve for the first time
Minister of Planning and International Cooperation Faiza Abul Naga on Wednesday said the Egyptian government has for the first time…
Textile factories in Mahalla close shop
May 4, 2011
Textile factories in Mahalla close shop
Owners of some 550 textile factories in Mahalla decided to close down their factories and send the keys to the…
Finance Ministry to consider imposing hot money tax
May 4, 2011
Finance Ministry to consider imposing hot money tax
The Egyptian Tax Authority (ETA) is considering imposing a hot money tax on the stock exchange to protect investment flow,…
Talks on price of gas exported to Israel to begin this month
May 4, 2011
Talks on price of gas exported to Israel to begin this month
Official negotiations between the Egyptian government and the Eastern Mediterranean Gas Company (EMG) will begin later this month to review…
Bank group sees recession in Egypt, Tunisia, Syria
May 4, 2011
Bank group sees recession in Egypt, Tunisia, Syria
The economies of Egypt, Yemen, Tunisia and Syria are likely to fall into recession in 2011 as economic activity falls…
Dana Gas makes fifth gas discovery in Egypt
May 3, 2011
Dana Gas makes fifth gas discovery in Egypt
Dubai--Dana Gas, the Gulf's only listed natural gas company, said on Tuesday it has made a new gas discovery in…
Finance minister: Budget deficit at 9.4% of GDP in 2011/12
May 2, 2011
Finance minister: Budget deficit at 9.4% of GDP in 2011/12
Egypt's state budget deficit, bloated after political turmoil rocked the economy, is forecast to widen to 9.38 percent of gross…