Business
Central Bank: Foreign reserves hit 7-year low in December
January 8, 2012
Central Bank: Foreign reserves hit 7-year low in December
The Egyptian foreign reserves continued to decline in December 2011, standing at US$18.1 billion, the lowest it has been in…
Egypt’s foreign reserves drop to $18.12 billlion
January 5, 2012
Egypt’s foreign reserves drop to $18.12 billlion
Egypt's foreign reserves dropped to US$18.12 billion at the end of December from $20.15 billion a month earlier, the Central…
Government divided over IMF loan
January 3, 2012
Government divided over IMF loan
Government officials have issued conflicting statements regarding the economic reform program that was designed in return for a loan of…
Egypt to keep 2011/12 deficit on target, says finance minister
January 3, 2012
Egypt to keep 2011/12 deficit on target, says finance minister
Egypt will maintain its budget deficit at 8.6 percent of output for this financial year, its finance minister said on…
Egypt’s stock market up on 2012 optimism, Central Bank cancels auctions
January 2, 2012
Egypt’s stock market up on 2012 optimism, Central Bank cancels auctions
Optimism for the year ahead lifted Egypt's stock market on Monday and Egypt's benchmark index rose 1.6 percent as Egypt's…
Government allocates LE175 million for development of slums
January 2, 2012
Government allocates LE175 million for development of slums
Prime Minister Kamal al-Ganzouri allocated a budget of LE175 million for the development of slum areas throughout Egypt. The budget…
Bankruptcies up by 26 percent, says cabinet
January 1, 2012
Bankruptcies up by 26 percent, says cabinet
In 2011, bankruptcies increased by 26 percent in comparison to the year before, according to a report released by the…
Egypt confirms Cyprus gas discovery is beyond Egyptian waters
January 1, 2012
Egypt confirms Cyprus gas discovery is beyond Egyptian waters
Egypt's Ministry of Petroleum has confirmed that a natural gas reserve recently discovered off the coast of Cyprus, does not…
Hotel occupancy down in Cairo and Sharm el-Sheikh
January 1, 2012
Hotel occupancy down in Cairo and Sharm el-Sheikh
Hotel occupancy in Cairo and the resort city of Sharm al-Sheikh has plunged from 2010, according to the head of…
A year in review: After a tough year, Egypt’s economic future still uncertain
December 31, 2011
A year in review: After a tough year, Egypt’s economic future still uncertain
In 2011, the Egyptian economy took a pummeling from the revolution. In 2012, it looks like it will be coming…