Latest news
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Egypt invites IMF delegation in March to resume talks on $4.8 billion loan
The government will present the delegation with changes to its economic reform program.
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Egypt's President Morsi reinstates Port Said's duty-free zone
In hopes of appeasing popular anger in restive canal city, President Morsi on Thursday approves restoration of Port Said's duty-free zone.
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Proven experts provide consultation on best fit technologies, processes and IT skills needed by today’s organizations
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Stock market experts slam new taxes
The tax on transactions will have a ‘disastrous’ effect on an already suffering market, they say.
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Egypt approves law allowing Islamic bonds
An earlier version of the sukuk law had been criticised by Islamic scholars, forcing a rethink.
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Egypt losing $15 million a day due to unrest
Egypt lost one billion pounds of tax revenues because of the unrest, yet the time when the losses occurred was not specified.
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Egypt's mobile phone companies referred to prosecutors
Egypt's antitrust watchdog says Mobinil and Etisalat have not been cooperating with an investigation into the companies.
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Luxor balloon crash a new blow to battered Egypt tourism
Residents and tour industry professionals fear that the accident will keep more tourists away, as Egypt struggles to revive the industry.
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Egypt to send economic plan to parliament in days
Asked when Egypt planned to invite an IMF delegation to resume talks on a $4.8 billion loan, Hegazy said: "I think within 10 days to two weeks."
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EFG-Hermes says Egypt unrest no bar to lower yields
The yield on one-year Egyptian pound Treasury bills is poised to decline another 25 basis points in the coming month.
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Visa and Samsung sign alliance to accelerate mobile payments
Financial institutions will be offered a secure service to download payment account information to Samsung’s mobile devices.
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Egypt c.bank reviewing methods to buoy up tourism sector
Current priorities are to boost the Egyptian economy and face the foreign currency reserve shortage.
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Egypt gains 4th place in global Outsourcing
Following India, China and Malaysia, Egypt becomes a sought-after destination for outsourcing.
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Egypt reform plan targets recovery in forex reserves
The revised programme is vital for resuming negotiations with the IMF on a $4.8 billion loan to keep the Egyptian economy afloat.
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Egypt balloon crash kills 19 Asian, European tourists
One tourist and the pilot had survived the crash, which followed the blast at 1,000 feet.
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Army officers face investigation for assaulting HSBC employees
The bank’s spokesperson could not provide details but said the matter was currently under investigation by the authorities.
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Stock market loses LE5.2 bn amid political uncertainty
The main stock index, EGX 30, went down 0.84 percent, while EGX 70 went down 0.51 percent.
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Unemployment on the rise in Egypt
27 million people are capable of working, meaning legitimate labor force – of which 3.5 million are searching for a job.
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MEA spending on IT facilities to reach $4b in '13: Gartner
IT infrastructure growth in Middle East will be driven by data center consolidation coupled with new data centre build outs.