Business
Orascom Development says Egypt’s regulator drops court case
September 7, 2011
Orascom Development says Egypt’s regulator drops court case
Real estate and hotels firm Orascom Development (ODH) said on Wednesday it had reached a settlement with Egypt's financial market…
Egypt’s local borrowing may backfire on economy
September 7, 2011
Egypt’s local borrowing may backfire on economy
Egypt’s increased reliance on local lenders to finance its budget shortfall may stifle any economic recovery by reducing the incentive…
Tourism Union calls for boycott of Saudi Airlines following pilgrim crisis
September 6, 2011
Tourism Union calls for boycott of Saudi Airlines following pilgrim crisis
The Egyptian Tourism Union called for boycotting Saudi Arabian Airlines until the latter issues an official apology for mistreating Egyptian…
Egypt’s foreign reserves decline slows in August
September 6, 2011
Egypt’s foreign reserves decline slows in August
Egypt's net foreign reserves slipped by US$700 million to US$25.01 billion last month from July, figures on the central bank's…
AlembicHC raises Telecom Egypt price target
September 6, 2011
AlembicHC raises Telecom Egypt price target
AlembicHC raised its price target on Telecom Egypt Co SAE and said it expects the landline monopoly's domestic wholesale business…
Tourism Ministry predicts losses of US$3 billion by year-end
September 5, 2011
Tourism Ministry predicts losses of US$3 billion by year-end
Samy Mahmoud, head of the Ministry of Tourism’s international tourism department, said on Monday that the industry's total revenues for…
Egyptian government proposes maximum wage 36 times the minimum
September 5, 2011
Egyptian government proposes maximum wage 36 times the minimum
Deputy Prime Minister and Minister of Finance Hazem Beblawi has proposed a maximum wage for state employees, set at 36…
Local gold prices still increasing
September 5, 2011
Local gold prices still increasing
Local gold prices are still soaring due to a global price hike, gold experts say. Amir Rezq, member of the…
Egypt to sign new gas deal with Jordan this month
September 5, 2011
Egypt to sign new gas deal with Jordan this month
An agreement to review prices for the Egyptian natural gas exports to Jordan will be signed this month, a senior…
Egypt destroys 4 million smuggled cigarettes
September 4, 2011
Egypt destroys 4 million smuggled cigarettes
The Port Said Customs Authority has announced that it destroyed four million cigarettes in August. The cigarettes were seized before…