News
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Egypt political crisis threatens to worsen economy
The tax hike was seen as a key first step in an economic reform package needed to generate revenue and meet conditions for the loan.
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Gold miner Centamin slumps 36% after dispute with Egyptian customs
Lack of fuel and short-fall in working capital forces Centamin to suspend operations at only working mine.
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QNB buys Egypt arm of Societe Generale for $2bn
The sale, which is expected to be completed in the first half of 2013, promises a net gain of around 350 million euros.
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AskNative looks to boost tourism in Egypt with local know-how
An online application that allows tourists to ask natives about the real risks of the current situation in Egypt.
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World Bank shares global experience with Egypt
The workshop, Human Development Challenges and Social Safety Net in Egypt, was designed to build on the existing social policy dialogue.
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Egypt, IMF Agree to Delay Loan Decision, Finance Minister Says
Egyptian officials have said the IMF loan is necessary to boost investors’ confidence, secure more funds and help the economy.
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We’ll be back on the tourism track: Egypt
Following last year’s political disruptions, the home of the Great Pyramids has struggled to regain travellers’ confidence.
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Despite turmoil, major lending effort aims to boost Egypt, Arab neighbors
Diplomats and others involved in crafting the IMF program acknowledge that they are dealing with an unpredictable situation.
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Egypt importing gas for first time as exports disappear
A switch to imports would weigh on Egypt’s current account deficit, potentially boosting calls to devalue the currency.
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Reliance Ind, BP bag Egypt crude oil supply tenders
Reliance Industries won the bulk (18 cargoes) on offer from Egypt’s Ras Gharib terminal, winning around 1.5 million tonne of the heavy crude.
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Greek Ro-Ro carries local goods from Turkey to Egypt
Trade Minister Hayati Yaz?c? said the Ro-Ro ferry services would serve as an alternative transportation instrument to the region.
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Nation, South Korea sign cooperation agreement
The agreement will help improve Egypt's balance of payments and restore financial stability, Saeed said.
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Egyptian tourism to Turkey hiked by 400% in 18 months
The inbound tourism, since the Egyptian revolution had been erupted, declined by 30%.
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Morsi raises taxes on almost everything - then terminates
President Morsi announces raft of changes to Egypt's tax structure - then decides to take it back 8 hours later.
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Egypt's Suez Canal Nov revenue dips in Oct
Revenue in October was $443.1 million. In November 2011 it was $447.9 million.
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Brief pause for Egypt’s markets before IMF vote
Talks have begun this weekend between the ruling Muslim Brotherhood and opposition parties ahead of a referendum on Egypt's new constitution.
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Egypt struggle seen costing Mursi, even if he wins
Having promised to be a president for all, Mursi stands accused of putting the interests of his group, the Muslim Brotherhood, ahead of others.
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What about the economy?
The state's developmental plan is set to work on establishing social justice and solidarity, ensuring equitable distribution.
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Tunisian businessman to buy Egypt’s ONTV from Sawiris
Tarek Ben Ammar and Sawiris have agreed on the deal, although neither side has announced the financial value of the agreement.
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Egypt's Economy: The Downside to Growth
Mubarak may be gone, but his economic policies still haunt Egyptians.