Business
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…
Fitch downgrades Egypt credit rating over security, political conditions
December 31, 2011
Fitch downgrades Egypt credit rating over security, political conditions
Fitch Ratings dropped Egypt’s credit rating by one notch to BB, which reflects the substantial and continuous erosion of Egypt's…
Minister: Egypt tourism down 30% in 2011
December 30, 2011
Minister: Egypt tourism down 30% in 2011
The number of tourists who visited Egypt in 2011 was one-third less than in 2010, Egypt's Tourism Minister Mounir Fakhry…