News
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Egypt to allow foreign companies to provide mortgage finance
Companies with foreign capital will be treated as companies with Egyptian capital, and will be exempt from Article 1 of the mortgage law.
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Egypt president raises cigarette, alcohol prices
Egypt's president has issued a decree raising the sales tax on cigarettes by up to 50 percent and on beer by 200 percent.
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Oil price hike could cause 200% increase in cost of other goods: CPA
Zeinab Awad Allah also warned the cost increase could start monopolies and would cause public anger and backlash.
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Economists welcome fuel price hikes as scuffles erupt across Egypt
Egyptians woke up to find the prices of certain modes of non-gov'tal public transport were charging 50 percent-higher fares than the previous day.
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Egypt cuts natural gas subsidies to factories, increase by 30-75%
Egypt's government said it was determined to tackle the subsidies' burden and cut most within five years.
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Gas shortage puts brake on several petchem projects in Egypt
The country is suffering from a shortage in gas supplies, which has affected completion of some petrochemical projects.
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Egypt's deficit hits 9.3% of GDP in first 11 months of current fiscal year
Egypt's minister of finance, Hany Kadry Demian, said in March the state's budget deficit for fiscal year 2013/14 would be around 12 percent.
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Egypt faces food imports as population increases, water grows scarce
Efforts to make the most of precious farmland have been hampered by decades of urban sprawl, accelerated by Mubarak's ouster in 2011.
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Egypt to tax people and corporations on income earned abroad
Amendment is latest in a spate of reforms incl. capital gains tax on bourse ratified last week as part of drive to boost tax revenues in 2014/2015.
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Egypt raises fuel prices by up to 78 percent from midnight -oil ministry source
Egypt will raise fuel prices in ranges that reach up to a 78 percent hike starting midnight, an Oil Ministry source told Reuters on Friday.
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Rising gas prices influence consumers' spending?
There is positive relationship between the cost of gas and the percent of consumers who change their spending patterns because of gas prices.
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Egypt to start implementing capital gains tax on Sunday
It is for sure now that the transactions on the Egyptian bourse on Sunday will be subject to the tax.
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PM: Egypt has no intention to change free economy course
Mahlab denied reports circulated the past weeks about the elimination of the free market.
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Egypt business activity expands in June, PMI hits 6-month high
The government is walking a fine line in trying to boost revenues and cut the deficit while attracting investors.
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Egypt saves EGP41 billion after cuts in energy, electricity subsidies
Subsidy going to energy amounts to LE100.3 billion after the cuts, while the electricity sector gets LE27.2 billion in the new budget.
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Egypt finalising unified telecoms licence after missing launch date
The licence would allow telecoms firms to operate fixed-line and mobile networks, and therefore open the way for Egypt's fixed-line monopoly.
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Egypt's Elsewedy wins state tender for wind farms
The government has said it would cut its huge energy subsidies programme and support renewables in the fiscal year that started this week.
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Egypt's tourism development authority hits historical revenues
Investment in development projects is behind the unprecedentedly high revenues registered by the Tourism Development Authority in the FY 2013/14.
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Egypt oil, gas possible once subsidies ease
Explorers in Egypt expect constraints on domestic energy prices to loosen, urging new investment in oil and natural gas fields.
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Egypt eyes up to 5.8 pct growth, 10 pct budget gap in 3 years -finance minister
"It is expected that growth will rise gradually to between 4-5.8 percent within the next three years," he said in a text message to Reuters.