Business
Elections, employee bonuses raise budget deficit
March 12, 2012
Elections, employee bonuses raise budget deficit
The Finance Ministry expects the state budget deficit for the fiscal year 2011/2012 to rise to LE150 billion because of…
Egypt, Iraq sign agreement on owed remittances
March 11, 2012
Egypt, Iraq sign agreement on owed remittances
Egypt and Iraq said that they are putting the final touches on a deal for a compensation package estimated at…
Eurozone instability threatens Egypt
March 11, 2012
Eurozone instability threatens Egypt
As the country struggles to get back on its economic feet, Egypt’s neighbors across the Mediterranean may be on the…
Gas and butane prices pushed inflation up to 10.9% in February
March 10, 2012
Gas and butane prices pushed inflation up to 10.9% in February
The urban consumer price index for February this year was 121.1 versus 110.9 a year earlier, pushed up by the…
Government to officially sign IMF loan agreement in March
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 buys 18–20 gas oil cargoes in tender
March 9, 2012
Government buys 18–20 gas oil cargoes in tender
State-owned Egyptian General Petroleum Corp (EGPC) has awarded a tender to buy 18–20 cargoes of gas oil between March and…
Stock market indices fall amid profit taking
March 8, 2012
Stock market indices fall amid profit taking
The Egyptian Stock Exchange fell significantly during Thursday’s trading session amid sales by foreign investors. The real estate sector suffered…
Government gets US$1.2 bn commodity loan from Islamic bank
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…
Egypt’s GDP grew by annual 0.4 pct in Q4
March 7, 2012
Egypt’s GDP grew by annual 0.4 pct in Q4
Egypt’s economy grew by an annualized 0.4 percent in the fourth quarter of 2011, indicating the economy is on the…
Egypt projects trade increase with Saudi Arabia after causeway
March 6, 2012
Egypt projects trade increase with Saudi Arabia after causeway
Transport Minister Gamal Mostafa Mohamed al-Sayed said on Tuesday that a causeway between Egypt and Saudi Arabia would increase bilateral trade to an…