News
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Egypt's business federation suspends ties with Turkey
Erdogan has criticized the Azhar Sheikh’s support for what he called a military coup in Egypt.
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Egypt crisis cuts tea exports
Reports from dealers and exporters indicate that there has been a decline in tea exports that is specifically destined for Egypt.
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Electrolux restarts full production in Egypt
Electrolux, which has about 10 production facilities on the outskirts of Cairo, said the security situation in the capital was now more stable.
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Egypt curfew cripples local businesses
Some restaurants and shops in fact have decided to completely shut down during the curfew period.
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Businessmen pressure Turkey to shift Egypt stance
The agriculture minister’s decision to suspend importing of cotton from Turkey is normal in light of "Turkish intervention within Egyptian affairs."
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Al Baraka Egypt unit wins award
The Majestic Five Continents Award for Quality and Excellence was granted to Al Baraka Bank Egypt.
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Beblawi: Lagarde comments admit Egypt’s needs
While domestic efforts to resolve the economic crisis are paramount, “that doesn’t mean the IMF should be excluded.”
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Contractors await outcome to Egypt strife
International contractors are waiting for directives or administrative decisions on contracts or purchasing orders involving Egypt.
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Egyptian tourism syndicate calls for delisting Qatar, Turkey as destinations
As political ties with Qatar and Turkey deteriorate, some Egyptian tourism sector insiders call for tourism ties to be severed as well.
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Finance Ministry: Egypt appreciates Arab aid
Finance Minister Ahmed Galal said that Egypt extols the financial and moral support of Saudi Arabia, the United Arab Emirates and Kuwait for Egypt.
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Egypt names new chairman of state oil company
Egypt has appointed Tarek El Molla as chairman of state-run Egyptian General Petroleum Corp (EGPC), the oil ministry said.
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Obama: U.S. aid to Egypt no longer 'business as usual'
Despite the turmoil, Obama emphasized the importance of U.S.-Egypt relations.
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Apache's Egypt quandary symbolizes tough business call
The Texas-based energy company has said it is assessing the value of its Egyptian interests.
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Unrest delivers huge blow to Egyptian tourism
Until recently, tourism accounted for more than 11% of the country’s GDP and nearly 20% of its foreign currency revenues.
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Crisis and curfew in Egypt push business to the brink
Cairo’s inhabitants have abandoned the city’s cafes and restaurants because of a 7pm curfew.
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Aid to Egypt: Follow the military hardware, not the money
Voices from both sides of the U.S. political aisle have attacked the Obama administration for keeping open Egypt's $1.5 billion stream of annual aid.
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CIB downgraded on Foreign Currency Rating
The Bank's Financial Strength Rating is affirmed at 'BBB-', supported by still sound loan asset quality.
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EU halts some arms exports to Egypt, aid untouched
"It was decided ... to suspend all arms deliveries that can be used internally," said French Foreign Minister Laurent Fabius.
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Egypt to use Gulf billions to spur economy
The 2012/13 budget, when it was announced last year, projected a deficit of only 7.9 percent of GDP, down from 8.2 percent in 2011/12.
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Q&A: Egypt finance minister rules out austerity
Interim Finance Minister says he does not plan any emergency measures for the troubled economy. Will seek fiscal discipline and social justice.