The Shura Council approved in late March a law allowing the issuance of sukuk, or Islamic bonds, which the heavily indebted government touts as a financial tool that can support the ailing economy.
Despite creating a stir for what some claim is (...)
Egyptian shoppers are likely to see even more big-name brands gracing their malls and shopping centers in the coming years, as international and domestic franchises continue to spread during the country's current economic slowdown.
The franchise (...)
The Wednesday decision by Local Development Minister Ahmed Zaki Abdeen to postpone indefinitely the law that would close shops at 10pm put a halt to a growing controversy over the government's lights-out policy.
Multiple political parties, civic (...)
It's no secret that Egypt's current government is having trouble financing its spending. But the government's troubles reflect a greater problem that encompasses the entire economy.
In the past two years, the country's balance of payments, a record (...)
The government will not raise taxes but will instead rely on foreign investment to remedy the country's cash flow problem, Prime Minister Hesham Qandil said during a meeting with a group of foreign investors.
But with foreign investors yet to open (...)
It's been a hard year for Mohamed al-Kady, owner of a small clothing factory in Heliopolis. The months of unrest and uncertainty, he says, have weakened demand for his Egypt-made ready-to-wear apparel.
“The middle class has seen its purchasing power (...)