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Several construction companies register profit despite Egypt’s ailing economy
Minister Ahmed Galal discussed in a conference call with EFG-Hermes the government’s plans to boost economy and encourage investors
There have been mixed reactions to this week’s announcement of a new public sector minimum total income of EGP1,200 per month to come into effect in January of 2014. Many are unsatisfied – unsatisfied with the EGP1,200 figure, the target of total income and not wage, or the meeting of the social justice objective. Some …
Chancellor Merkel’s triumphant conservative Christian Democrats (CDU) won 41.5% of the vote.
By Philip Whitfield Who’d be in the president’s shoes? Adly schleps in the shadows. Morsi shuffles round prison in his. Mubarak hobbles in hospital pumps. Sadat died with his on. Nasser wore his out on socialism’s slippery slope. Who’s got the courage to give the old ways a kicking? The economist Felix Inmonti says rent-funded …
By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …
Rise in deposits seen as symptomatic of Egypt’s “economic deflation”
These statements came during a conference hosted Monday night by the Canadian Egyptian Business Council to discuss the state of Egypt’s mineral resources, which was attended by a number of businessmen with wide-ranging experience operating in the sector.
Bahaa El-Din stated that the country’s national school nutrition program, which is a part of Egypt’s broader economic initiative, would target those regions and villages most in need of assistance.
Fahmy congratulates Russian diplomacy following US-Russia agreement on Syria chemical weapons
Increases in inflation rates from January to August 2013 totaled 9.4% compared to the same period during the previous year.
The gas bill collector cried at my door. He is not a young man but an Egyptian man in his mid-forties, who is a husband and a father. Culturally, men are not supposed to cry, but nevertheless, he did. He fought the tears in his eyes and the lump in his throat and lost. He …
By Farah Halime, Rebel Economy We may not like it, but Egypt desperately needs Gulf money. So why not change the way the Gulf lends money to Egypt to make it count. It won’t be just about wasting away cash to address a symptom without resolving the underlying problem. Indeed, without Gulf aid, the government would have …
Faisal Islamic Bank of Egypt announced net profits worth EGP 370.816m in the first half of 2013 compared to EGP 283.696m during the same period last year, marking a 31% increase.
CBE set to hold an exceptional dollar auction of $1.3bn on Wednesday for banks in attempt to cover clien’’s outstanding import needs
“The police had confiscated a spy-duck.” This was how my reporters greeted me five days ago. At first I thought it was another pun by DNE’s wily reporters until they showed me the links in Arabic; the police confiscated a duck carrying a “strange” device. Two days later, after the intervention of animal activists, the …
The ‘Egypt Support’ Fund, the 306306 account, has exceeded EGP 700m according to Ashraf El-Araby, Minister of Planning and International Cooperation, in the less than two months since its creation. Two other similar funds had been established since the start of the January 25th Revolution in Egypt with comparatively little success in fund raising. I …
On 30 August, the GASC stated on its official website that its Vice President Mamdouh Abdel Fattah is seeking wheat cargoes from the US, Canada, Australia, France, Germany, Russia, Romania and Ukraine.
The World Bank has assessed Egypt’s economic growth in the second quarter of the 2012/2013 fiscal year prior to interim prime minister Hazem El-Beblawi assuming office
Several human rights organisations discuss their goals, plans for the economy and tourism
The report attributed the expansion in liquidity levels to a rise in the money supply, which grew by 20.9% to EGP 57.2bn, in addition to an increase in net local assets, which registered EGP 3.196bn.
By Farah Halime, Rebel Economy Take a look at this chart, which the Central Bank of Egypt has been proudly parading this month: It shows how the pound’s official price, controlled by the central bank, has been appreciating slowly since the overthrow of Islamist president Mohammed Morsi. If we were to take this graph at face value, …
By: Ibrahim al-Masry Kamal Abu Eita, Minister of Manpower and Emigration stated that basic services need to be provided in order to encourage economic growth and benefit the lower classes at a recent conference held for Egyptians living abroad, under the title of “Egypt in the heart” under the auspices of President Adly Mansour. …
EU Foreign Minister’s decisions may be ineffective without US support, says expert
Banks returned to working normally starting Sunday for only three hours a day
The government pledges to pay EGP 2.5bn due to contractors before December 2013
The economy has the potential for growth in the coming months, says NBE chairman
Car market sales in June registered a 17% rise compared to June 2012.
51.3% of youths between the ages of 18 and 29 lived in or near poverty in 2012
Local gold market witnessed a surge in sales and prices in Eid el-Fitr as Egyptians seize the vacation to hold their engagements and wedding ceremonies