News
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Energy the elephant in the room for Egypt
One has to suspect that the major issue with the IMF loan has to do with subsidies in general and energy subsidies specifically,
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Minister: Almost 12 million tourists to come to Egypt in 2012
The widespread security gap drove tourists away and drove the foreign currency earning industry to a near halt.
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Egyptians reject fatwa calling for destruction of pyramids and Sphinx
The Fatwa Committee at Al-Azhar rejected the fatwa, saying antiquities are part of the country's culture.
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Not so much debt-forgiveness in Egypt
Farmers were heartened by the President's promise, but the debt cancellations are only being applied to non-performing – i.e. delinquent –loans.
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EU to unblock bank accounts of former Egyptian, Algerian Presidents
The accounts were blocked due to the events of the so-called ‘Arab Spring’ in each of the two states.
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Egypt borrowing costs rise as Mursi power grab sparks violence
The Arab country raised its target 5 billion Egyptian pounds ($821 million) at an auction of treasury bills.
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$4.8 Billion IMF Loan Gives Morsi's Egypt A Confidence Boost
An IMF agreement for a loan to Egypt provides stability, confidence, and international support for fiscal consolidation and structural reform.
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CBE exempts four banks from applying Basil 2 Standards
Banque Misr and the Principal Bank for Development and Agricultural Credit , amongst others, were exempted.
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Egypt's stock market tumbles almost 10% after Morsi's decree
Islamist president issued decrees to assume sweeping new powers, while police in central Cairo fired tear gas at protesters.
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Revolution's aftershocks still rattling Egyptian universities
The government now needs to act on the court’s decision before Nile University's students are allowed back on to the campus - but disputes remain.
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Egypt's Communication Ministry denies cutoff
The Egyptian minister said that he did not and will not cut telecommunications or the Internet service in Tahrir or anywhere else.
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Minister: Luxor witnesses stability, sees 30 percent rise in Tourism numbers
Zazou said that Egypt is not Tahrir Square, adding that Egypt enjoys stability & security, contrary to what has been promoted by some media outlets.
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Egypt sees 2012/13 budget deficit at 10.4 pct of GDP
Egyptian officials said they would issue a supplementary budget to amend the 2012/13 budget after an IMF deal.
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Egyptian businessmen looking for joint ventures in various sectors
The Egyptian delegates to Islamabad, Pakistan expressed interest in promoting trade and economic relations.
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Export Development Bank of Egypt ratings,'negative' outlook affirmed
Capital Intelligence has affirmed Export Development Bank of Egypt's Long and Short-Term Foreign Currency Ratings at 'BB+' and 'B', respectively.
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Opinion: The Arab economic alliance
Jiah ElKhazen discusses that most economic ties were almost destroyed by the revolution.
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Citadel Capital in joint venture to import LNG to Egypt
Egypt has two LNG terminals and a pipeline to export some of its large gas reserves, but it has been diverting some of the fuel intended for export.
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Egypt's cabinet agrees to curb fuel subsidies
Many ordinary Egyptians are worried that the IMF deal will mean tough austerity measures, so these steps will test the public response.
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Protesters firebomb Al-Jazeera Cairo office
Many protesters had accused the channel of bias in favor of the country's most powerful political force, the Muslim Brotherhood.
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Egypt to buy Turkish Anka UAVs
Turkey and Egypt signed a number of cooperation agreements, including a related to defense industry cooperation.