Business
Govt to reduce petroleum subsidies
July 1, 2011
Govt to reduce petroleum subsidies
The Petroleum and Solidarity and Social Justice ministries are scheduled to begin reducing petroleum product subsidies in July. The plan…
IMF cancels Cairo visit after military council rejects foreign loans
July 1, 2011
IMF cancels Cairo visit after military council rejects foreign loans
A source close to the International Monetary Fund (IMF) said the fund cancelled a visit to Cairo scheduled for July…
Egyptian pound trades near six-year low after protests
June 30, 2011
Egyptian pound trades near six-year low after protests
The Egyptian pound moved within reach of a 6-year low after violent protests rocked central Cairo on Wednesday and following…
US to forgive a third of Egypt’s debt over 3 years
June 30, 2011
US to forgive a third of Egypt’s debt over 3 years
The United States has agreed to cancel one-third of Egypt's debts over the course of three years, the state news…
Experts warn of negative credit ratings affecting foreign investment
June 29, 2011
Experts warn of negative credit ratings affecting foreign investment
Economists have warned that negative credit ratings for the Egyptian economy would adversely affect foreign investment. The international rating agency…
Ethiopia plans power exports to Egypt
June 29, 2011
Ethiopia plans power exports to Egypt
ADDIS ABABA--Ethiopia plans to sell power to Sudan, Yemen, Kenya and even Egypt, with whom it is at odds over…
Egypt’s stock market tumbles on new Tahrir clashes
June 29, 2011
Egypt’s stock market tumbles on new Tahrir clashes
The Egyptian stock exchange's benchmark index has tumbled over two percent amid fresh clashes between security forces and protesters in…
Egypt mobile phone April subscriptions up 27 pct
June 29, 2011
Egypt mobile phone April subscriptions up 27 pct
The number of mobile phone subscriptions in Egypt rose to 74.58 million in April, up 27 percent year-on-year, government figures…
Credit Suisse upgrades Telecom Egypt
June 29, 2011
Credit Suisse upgrades Telecom Egypt
Credit Suisse upgraded landline monopoly Telecom Egypt to "outperform" from "neutral," and said it sees strong wireline revenue in 2011…
Egypt rejection of IMF cash may slow recovery
June 28, 2011
Egypt rejection of IMF cash may slow recovery
Egypt's decision to scrap plans to borrow from the International Monetary Fund may slow an economic recovery, delay a solution…