News
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Red Sea governor issues permission for foreigners to work in tourism
Red Sea Governor Mahmoud Assem decided to facilitate issuing the required permission for foreign employees who work in the tourism sector.
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Egypt: Work in Toshka Project Not to Be Suspended
Work in Toshka project is going on and will not come to a standstill, an Egyptian Agriculture Ministry official said on Sunday.
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Saudi to invest $500 million in Egypt treasury bills
Reports of Gulf states buying Egyptian financial instruments drive down average yields at Sunday's auction.
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Egypt finmin says foreign borrowing necessary: paper
Egypt's dependence on local borrowing to support the state budget is not sustainable and it will have to borrow from overseas.
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Telecom Egypt Workers Threaten Work Stoppage, Al Shorouk Reports
Telecom Egypt employees have threatened to strike if their demand for the resignation of Chief Executive Officer Mohammed Abdel Rehim is not met.
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Are the generals stealing Egypt?
Egypt's central bank has taken firm and decisive action: it has fired all of its outside directors.
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McDonald's asked to return mummies to Egypt
A McDonald's restaurant in Staffordshire has been asked to return a pair of mummies buried in its foundations to Egypt.
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Egypt's government suggests steel firm to repay license value on installments
Egyptian government suggested a settlement for steel firms which faced a court ruling to cancel licenses, allows it to pay on 7-year installment.
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Ministry of Finance offered 5b worth of Treasury bills
The Egyptian Ministry of Finance announced results of the bids on treasury bills reached 5 billion EGP, with one or two times coverage.
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Egypt, Sudan angry over Nile Basin development
Egypt and Sudan are worried over recent developments along the Nile River by countries south of their borders.
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Gulf bourses disappointed by G-20 meeting; Egypt continues to rally
The bright spot in the Middle East was Egypt, where the benchmark index gained 1.5 percent to 4,214 points.
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Egypt T-Bill Yields Drop After Saudi Arabia Pledges Support
Egyptian treasury bill yields declined at an auction today after Saudi Arabia said it plans to invest $500 million in Egypt’s T-bills.
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Egypt's Mobinil says customer boycott subsides
The Egyptian mobile company suffered a boycott after Christian business tycoon and politician Naguib Sawiris tweeted a cartoon of Mickey Mouse.
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Telecom Egypt workers start open-ended strike, demand CEO's removal
Workers at a majority of Telecom Egypt's telephone exchanges nationwide began an open-ended strike on Sunday.
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Egypt's central bank regulations amended, board will see major reshuffle
New regulations shrink and change the composition of the Central Bank of Egypt board of directors.
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Egypt's Alcotexa sells 2,757 T cotton in past week
Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 2,757 tonnes of cotton in the week that ended on October 15.
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Cotton problems in Egypt need practical solutions
A crisis may be in the making when the new cotton crop is not marketed.
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Egypt's SODIC registers sales of $96 mln to end-Sept
Egypt's SODIC registered almost 570 million Egyptian pounds worth of sales to the end of September, the firm said in a statement on Sunday.
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For social justice, government must reform fuel subsidies
A 2005 World Bank study found that wealthier Egyptians receive twice the amount of subsidies as poor citizens.
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No further change in Egypt's taxes: official
Egypt's tax law will not be changed after the addition of a new rate on income above LE10 million.