Mejahed Mohamed, a 24-year-old Sudanese medical student, was exceptionally excited about Valentine's Day this year as it was the first time he had a significant other to celebrate with.
He bought an expensive bottle of perfume for Samira, his (...)
The Egyptian government has said it will raise the minimum monthly wage for all public sector workers to LE1,200 ($171), without specifying how the raise will be implemented or funded.
The decision was announced in a televised press conference on (...)
Egypt's second-biggest listed property developer, Palm Hills Development (PHD), reported it made a net profit of LE2.1 million ($300,000) in the first half of 2013, compared with a loss of LE77 million ($11 million) in the same period of last (...)
Egypt's interim President Adly Mansour on Thursday issued a decree amending the country's tenders and auctions law, raising the ceilings for the values of property and services government officials can buy and sell by direct order.
The 1998 law (...)
The Egyptian economy is likely to avoid a major contraction due to the ongoing political crisis, thanks to generous support from Arab Gulf countries and sturdy domestic demand, economists told Ahram Online.
However, a real recovery, along the lines (...)
Egypt's pound has continued its slump, hitting a new low against the US dollar despite recent foreign currency injections from Libya and Qatar and a relative improvement in tourism.
The official exchange rate has reached LE7 against the dollar at (...)
The 5 percent interest rate that Qatar has requested for a potential $3 billion worth of Egyptian treasury bonds is not particularly low, but the cash-strapped Egyptian government is likely to accept it nonetheless.
On 10 April, oil-rich Qatar (...)
In exclusive interview with Ahram Online, Egyptian Petroleum Minister Osama Kamal discusses proposed $4.8 billion IMF loan, longstanding plans to cut energy subsidies and fears of summertime power cuts
Egypt's fuel subsidy reform programme is moving (...)
It might seem ironic that Egypt began seeking help from the International Monetary Fund (IMF) less than three months after its world-renowned revolution in 2011, which trumpeted 'social justice' and 'bread' among its chief demands.
The revolution (...)
Walk down any back alley in the Egyptian capital, or even along one of Cairo's main thoroughfares, and you're likely to see scenes of shocking poverty.If the miserable grey buildings that shelter millions of impoverished souls don't get to you, the (...)
The Egyptian stock exchange finished trading on Sunday in the red, maintaining its recent uneven performance.
The main EGX30 index fell 0.92 per cent to 5,701 points, while daily turnover stood at an unimpressive LE410 million (some $63 (...)
In preparation for Tuesday's mass demonstrations against President Morsi's controversial Constitutional Declaration and the passing of the draft constitution, security forces station 15 trucks outside presidential palace
Egypt's security forces have (...)
At one of Cairo's luxurious Nile side hotels, in a lavish ballroom, around a hundred Egyptian Salafists, including some of their top religious scholars, gathered to launch their Salafist movement's first business association.
Business House, a (...)
The capital gains tax to be introduced to the Egyptian Stock Exchange may come as as a shock, due to its novelty in Egypt, but it will not have any immediate large scale positive or negative effect on the business sector, say analysts. However, it (...)
Arab economies are likely to get worse before they get better, the former governor of Tunisia's central bank has said.
Speaking at the 'Arab Spring to Economic Spring' conference organised by the International Development Research Centre (IDRC), (...)
Online trade has the potential to boost small enterprises across the Arab world but the onus is on the region's countries to implement sympathetic policies, says a World Bank trade expert.
Using the internet effectively, he said, will give the (...)
Market economies are likely to prevail in countries affected by the Arab Spring despite calls for widespread change, according to economists and academics gathered at a Tunisian conference.
Uprisings in Tunisia, Egypt and beyond were at least partly (...)
Egypt's central bank is a robust institution whose recent success in stabilising the currency doesn't depend on a single member of staff, its sub-governor said on Wednesday.
Speaking at a Cairo conference, Nidal Assar paid tribute to the tough (...)
The red plastic bag of vegetable peelings plummets from the balcony and splits open as it hits the pavement. Dark juice oozes out, mixing with the battered cans, yellowed newspapers and chicken bones heaped on the nearby street corner. Egypt's (...)
Egypt's status as an exporter of gas is likely to change as economic growth picks up; importing Liquefied Natural Gas is not cost-efficient for Egypt, expert tells Ahram Online
Egypt is destined to become a net importer of natural gas if the (...)
In an exclusive interview with Ahram Online, National Bank of Egypt chairman Tarek Amer talks about the International Monetary Fund, Egyptian attitudes towards business and the future of the bank
Responsible for Egypt's largest concentration of (...)
Qatar's pledge to deposit $2 billion in the Central Bank of Egypt will help boost the country's economy but won't replace the need for a $3.2 billion-plus loan from the International Monetary Fund (IMF), economists have told Ahram Online.
Experts (...)
The economy ministers chosen for Prime Minister Hisham Qandil's new government are mostly new faces on the political scene, with only the finance minister from the previous cabinet retaining his post.
Amid a group of technocrats the one exception is (...)
Despite not securing any compromises from company management, Cleopatra Ceramicsworkers in Ain El-Sokhna reopened the commercial sector in the factory and management resumed its complementary bus service taking workers from their homes to the (...)
A labour strike by hundreds of workers at Egypt's southern Sukari gold mine to demand better pay and the reinstatement of laid-off workers entered its fourth day on Wednesday.
Workers demand that the company pay them a hazard allowance, as is (...)