Egypt economy
Al-Azhar asserts role, clashes with Brotherhood
Egypt
March 29, 2013
Al-Azhar asserts role, clashes with Brotherhood
Al-Azhar said on Thursday its clerics must be consulted on a law allowing the state to issue sukuk (Islamic bonds),…
IMF mission to visit Egypt in early April for loan talks
Business
March 29, 2013
IMF mission to visit Egypt in early April for loan talks
The International Monetary Fund said on Thursday it would visit Egypt in the "first days of April" for talks with…
Suez Canal revenue drops 7.4 pct in Feb vs Jan
Business
March 29, 2013
Suez Canal revenue drops 7.4 pct in Feb vs Jan
Revenue from the Suez Canal fell to US$375.3 million in February, down 7.4 percent on the previous month and down…
Budget deficit climbs to LE146.5 bln
Business
March 28, 2013
Budget deficit climbs to LE146.5 bln
The national budget deficit jumped to LE146.5 billion from July 2012 to February 2013, a rise that is equivalent…
Despite protest anxiety, NSGB sale boosts stock exchange
Business
March 28, 2013
Despite protest anxiety, NSGB sale boosts stock exchange
The Stock Exchange made modest gains by the end of trading on Thursday, despite poor performance indicators ahead of…
New customs tariffs could bring in LE1 bln per year, says official
Egypt
March 25, 2013
New customs tariffs could bring in LE1 bln per year, says official
The government hopes to earn LE1 billion in revenues by increasing the custom tariffs on certain commodities, Customs Authority head…
Shura Council approves Saudi loan, despite Salafi anger
Egypt
March 25, 2013
Shura Council approves Saudi loan, despite Salafi anger
Heated debate erupted again among the Shura Council's Islamist lawmakers on Monday over a loan from Saudi Arabia. Salafi legislators…
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
Business
March 22, 2013
Moody’s downgrades Egypt, citing unsettled political conditions, weak finances
Moody's cut Egypt's credit rating on Thursday, citing unsettled political conditions and public finances, which it said raised the chance…
Central Bank raises rates to curb inflation, support pound
Business
March 22, 2013
Central Bank raises rates to curb inflation, support pound
The Central Bank raised interest rates on Thursday, hoping to curb soaring inflation and slow a sliding pound currency, but…