News
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Upheaval drains life from Egypt businesses
After two years of political upheaval, those who earn their livelihoods from tourism — once Egypt's third-largest industry — are struggling.
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In a difficult economy, tech startups offer hope
In an economic environment that is both short on capital and optimism, a small but hardy group of startup enterprises is finding its way.
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‘Socioeconomic time bomb’ ticking in troubled Egypt
As Egypt’s politicians agreed on a plan to start a “serious dialogue” to fix the country’s political chaos, its economic crisis is no less urgent.
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Egyptian, French Business leaders agree to strengthen economic ties
Both sides recognised the need to strengthen economic ties given the long history of cooperation between Cairo and Paris.
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Egypt's GASC buys 60,000 tons of American wheat for March
General Authority for Supply Commodities said it bought a total of 60,000 metric tons of American wheat for shipment March 1-10.
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Mursi launches 'Save in Egypt' campaign to support economy
Mursi stated that the country's economy is strong in spite of what superficially looks like a decline.
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Qatar National Bank receives regulatory approval to acquire SocGen Egypt
Under terms of the agreement, QNB will purchase around 77.2% stake in NSGB in a deal valued at nearly $1.97bn, as reported by the Bloomberg.
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Egypt's economy overburdened by ongoing violence
The ongoing clashes accumulate more burdens over the national economy and the revenues of tourism sector.
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US aid to Egypt must continue despite unrest, says John Kerry
Future secretary of state, John Kerry, says ending US aid to Egypt could provoke further 'chaos' in the strife-ridden country.
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Egypt violence is rooted in the economy, not just politics
Egypt’s recent days of violence have focused attention on its political crisis —but the underlying cause remains an economy on the brink of collapse.
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Fitch downgrades Egypt's credit rating
The downgrade reflects several factors, including a worsened fiscal position, Fitch said in a statement.
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Cooperation agreement between Libya and Egypt
The agreement includes training courses in media and publishing as well as cooperation in archaeology.
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Egypt's big businesses feel neglected amid turmoil
Some of Egypt’s biggest employers have criticized the government for undermining the economy and the role of larger multinational companies.
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Mursi due in Germany on visit shortened by Egypt crisis
Mursi cancelled plans to go on to Paris from Berlin and will instead hurry back to Cairo later in the day.
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Egypt Military Chief warns of collapse of state
Al-Sissi warned that the political, economic, social and security problems facing Egypt constitute a threat to the country’s security and stability.
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Egypt c.bank head: Target is a regulated dollar market
Ramez denied targeting a certain rate for the dollar, pointing out that he is seeking to have a well-regulated market.
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Egypt pound slides on IMF loan worries
The pound has now lost 7.5 percent of its value against the dollar since the central bank began auctions at the end of December.
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Egypt protesters come to aid of ransacked Intercontinental hotel
Armed groups break into Semiramis hotel off Tahrir Square, shoot at employees and guests; anti-government demonstrators ward off looters.
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Egypt hotels enjoyed strongest growth in Mideast in 2012
Hotel performance improved in many parts of the Middle East in 2012, with cities such as Cairo and Amman enjoying strong bounce backs.
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Egyptian economy needs a miracle and not just an IMF loan
Technically in a recession, the country has experienced an extended period of slow growth, a big budget deficit and other problems.