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Minister of Finance presents strategy to automate fuel distribution amid shortages
The government is working to address problems faced in a number of idle and shut down factories, according to Kamal Abu Eita, Minister of Manpower and Immigration.
The cabinet will raise basic wages of state employees by 10% in an attempt to “allow workers to afford basic life necessities”
The current foreign reserves, necessary to import staples, primarily wheat, registered $14.9bn this June compared to $16.04bn in May.
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
Moody’s stated the rating action was driven by the firm’s “view that Intesa’s capacity and potentially its willingness to support Bank of Alexandria has been reduced”.
Exports registered EGP 16.3bn in the same period last year.
Gleeds Construction Consultancy Egypt says devaluation of the local currency is likely to take its toll on the sector
Expert: Value of aid is “economically misleading” and unlikely to raise the foreign reserve level
Mounir Fakhry Abdel Nour announced that he is reviewing a plan to increase the industrial exports to EGP 145bn by the end of this year
Spokesman says the decision to engage with the interim government depends on shareholders
Egypt receives aid packages from Saudia Arabia, UAE, and Kuwait
By Juan Cole Whatever the reasons the US public is less excited about Egypt’s ongoing revolution, the country is in fact important to the US. A Pew poll shows that far fewer Americans are following events in Egypt closely now than in January-February 2011. Actually, about the same percentage are following it “fairly closely” as …
Abdel Nour said despite the difficult circumstances the economy is experiencing, the ministry is committed to realising success in order to reach social justice, stability and restore the confidence of local and foreign investors.
The report emphasised that 30.5% of youth have previously migrated without a visa; 80.9% of them had no contracts
The shipping line, run and managed by the Sisa Shipping Company, connects the Iskenderun port in Turkey to Adabiya in Port Said, was suspended this week.
Egyptian charitable organisation were also hit by the Egyptian economic crisis
Experts say that sales of such devices have gone up 60% in the last two years, with prices generally varying from anywhere between EGP 800 and EGP 5,000, sometimes going as high as EGP 20,000.
Slashing energy subsidies is one of the requirements set by the International Monetary Fund (IMF)to secure the proposed $4.8bn loan package.
Economies, like relationships, require a good feeling. The best relationships draw you in, and you really enjoy the happiness and value you get from them. Less good ones can drive you away, and while you get something out of them, you are not very drawn into them. Economies are kind of like that. Some pull …
The research, titled The Illusion Dispelled, was focused on identifying the economic predicaments and policy shortcomings that lead to the national economic crisis.
Aide to the Minister of Planning: Financial aid received from Arab countries will begin to be converted next week
By Farah Halime, Rebel Economy That’s a question I put to around a dozen Egyptian businessmen over the weekend, all of whom responded with a resounding “Yes”. Here are some snippets of conversations I had with a few of Egypt’s business community over the weekend (some appeared in this story for The National newspaper): Nassef Sawiris, billionaire …
$12bn total aid pledged by Gulf states should assist Egypt’s beaten economy if properly used, experts say
Financial experts predict inflation levels to further accelerate in the coming months if political instability persists
Report cites poor health of manufacturing sector
Some countries warn their citizens against visiting Cairo due to the unrest
AmericanChamber of Commerce in Egypt tries to convey a correct image of Egypt’s unrest, while others call of boycotts of American goods
How democratic last week’s events in Egypt were will continue to be debated. Democratic or not, this is an excellent opportunity to set the economy in a better direction. Information will be critical for improving the economy. It will also give credibility to these events as being part of a democratic process. Democracy is not …
The Daily News Egypt spoke to Egyptian economy experts to gain their insight on how the new government should manage the current economic crisis.