Business
Egypt pound weakens as government rejects foreign aid
June 26, 2011
Egypt pound weakens as government rejects foreign aid
Egypt's pound weakened to its lowest since mid-April after the government said it had no need for a previously arranged…
IMF to discuss Egypt’s budget amendments
June 25, 2011
IMF to discuss Egypt’s budget amendments
Egypt told the International Monetary Fund (IMF) that it plans to amend the state budget for the new financial year,…
Foreign reserves drop by US$7.2 bn
June 23, 2011
Foreign reserves drop by US$7.2 bn
The Central Bank's May report revealed that Egypt's foreign reserves dropped by US$7.2 billion in ten months, to stand at…
Cabinet approves draft state budget
June 22, 2011
Cabinet approves draft state budget
The cabinet on Wednesday approved the draft state budget for the 2011/2012 fiscal year, prior to sending it to the…
Government drafts law criminalizing encroachment on arable land
June 22, 2011
Government drafts law criminalizing encroachment on arable land
The government is in the process of drafting a law that would criminalize building on agricultural land, giving the Agricultural…
Report: Chicken, fish, and rice prices up in May
June 22, 2011
Report: Chicken, fish, and rice prices up in May
Local fresh meat prices increased in May, according to a report by Egypt's Central Agency for Public Mobility and Statistics…
World Bank, IMF offers to Egypt spur debt fears
June 22, 2011
World Bank, IMF offers to Egypt spur debt fears
If Egypt accepts the US$20 billion potentially on offer from international sources, it will be setting itself for up for…
Government allocates LE192 bn to develop 37 slums
June 21, 2011
Government allocates LE192 bn to develop 37 slums
The cabinet's Slum Development Fund has allocated LE192 billion to start developing 37 slums in 17 different governorates this month.…
Report recommends dropping lawsuit demanding land sale reversal
June 21, 2011
Report recommends dropping lawsuit demanding land sale reversal
A governmental body issued a report Tuesday recommending the rejection of legal action seeking to cancel a new contract signed…
Jordan agrees to price-increase for Egyptian gas exports
June 20, 2011
Jordan agrees to price-increase for Egyptian gas exports
Egyptian Petroleum Ministry officials on Monday said negotiations with Jordan succeeded in raising the price of Egyptian gas exports from…