Egypt economy

Qandil denies reports US will drop US$1 bn in debt
Business

Qandil denies reports US will drop US$1 bn in debt

Prime Minister Hesham Qandil denied on Tuesday reports that the US would drop US$1 billion from the country’s debt load.…
Multi-million dollar loan from China due to arrive in National Bank
Business

Multi-million dollar loan from China due to arrive in National Bank

The National Bank of Egypt said that the US$200 million loan recently granted by the China Development Bank will arrive…
Stock exchange achieves second highest monthly record
Business

Stock exchange achieves second highest monthly record

The Egyptian Stock Exchange achieved unprecedented gains of nearly LE30 billion in August backed by several positive events at the…
Qandil meets with union heads to discuss labor strikes
Egypt

Qandil meets with union heads to discuss labor strikes

  Prime Minister Hesham Qandil held talks Thursday night with leaders of the Egypt Trade Union Federation (ETUF) to discuss…
Egypt struggles to buy fuel as credit dries up
Business

Egypt struggles to buy fuel as credit dries up

  LONDON/CAIRO — Egypt is finding it increasingly difficult to import fuel as foreign banks and traders pull the plug…
Egypt gas exports increase in first quarter, but production drops
Business

Egypt gas exports increase in first quarter, but production drops

  Egypt's exports of natural gas and its derivatives rose by 8.9 percent in the first five months of 2012,…
Qandil’s economic appointments maintain status quo in weakened govt
Business

Qandil’s economic appointments maintain status quo in weakened govt

As Prime Minister Hesham Qandil was unveiling the new Cabinet, unrest ensued in parts of the country. One person died…
Chamber of Commerce criticizes Industry Ministry nominees
Business

Chamber of Commerce criticizes Industry Ministry nominees

The head of the Federation of the Egyptian Chambers of Commerce, Ahmed al-Wakil, said that he would inform President Mohamed…
Statistics agency head says economy shrinking, but salvageable
Egypt

Statistics agency head says economy shrinking, but salvageable

The head of the Central Agency for Public Mobilization and Statistics (CAPMAS), Abu Bakr al-Gendy, said that while the economic…
Khan al-Khalili shop owners protest lack of business
Egypt

Khan al-Khalili shop owners protest lack of business

Bazaar owners in the Khan al-Khalili area blocked Al-Azhar Street on Wednesday in protest against the lack of business due…
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