Foreign investment in Egypt doubles to over $6bn

Foreign direct investment into Egypt doubled to over $6 billion in the financial year that ended on June 30, Hassan Fahmy, head of Egypt's investment authority, told Reuters on Sunday.

Egypt's economy has been battered by more than three years of political turmoil since the 2011 uprising that toppled Hosni Mubarak. The government is walking a tightrope in trying to increase revenues and cut its deficit while luring investors and tourists spooked by the uncertainty buffeting the whole region.