debt
Interest-based loans for new metro line not banned by Sharia law, says minister
Egypt
June 4, 2012
Interest-based loans for new metro line not banned by Sharia law, says minister
Fayza Abouelnaga, minister of planning and international cooperation, rejected claims that interest-based loans are prohibited by Sharia law in a…
Plan to sell debt to citizens abroad delayed
Egypt
April 4, 2012
Plan to sell debt to citizens abroad delayed
An Egyptian plan to sell certificates of deposit (CDs) — a form of debt — to its citizens living abroad…
World Bank to allocate US$250 million for Cairo transport
Business
April 3, 2012
World Bank to allocate US$250 million for Cairo transport
The World Bank agreed to loan Egypt US$250 million to be allocated to improving public transportation and traffic in Cairo…
Orascom Construction Q4 net falls more than expected
Business
March 27, 2012
Orascom Construction Q4 net falls more than expected
Egyptian group Orascom Construction reported a 34 percent drop in quarterly net income, missing expectations after being hit by debt…
Plan to save economy underway, says cabinet
Business
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…
Government to officially sign IMF loan agreement in March
Business
March 9, 2012
Government to officially sign IMF loan agreement in March
The government has officially agreed to sign a deal with the International Monetary Fund for a loan worth US$3.2 billion…
Government gets US$1.2 bn commodity loan from Islamic bank
Business
March 8, 2012
Government gets US$1.2 bn commodity loan from Islamic bank
The Egyptian government has received a US$1.2 billion credit facility from the International Islamic Trade Finance Corporation (ITFC) to help…
Foreign Ministry delegation to discuss Iraqi debts to Egypt
Egypt
March 6, 2012
Foreign Ministry delegation to discuss Iraqi debts to Egypt
A delegation from Egypt’s Foreign Ministry left for Iraq on Tuesday to discuss Iraqi debts to Egypt. Deputy Foreign Minister…
Farmers in limbo after stalled promises of loan forgiveness
Business
January 26, 2012
Farmers in limbo after stalled promises of loan forgiveness
In a speech made in the midst of December clashes between protesters and military and security forces, Prime Minister Kamal…
As Egypt returns to IMF, transparency still lacking
Business
January 15, 2012
As Egypt returns to IMF, transparency still lacking
Though largely billed as the country’s best and last hope to balance a growing budget deficit and to alleviate a…