CAIRO: The role of both established and emergent political parties in the Egyptian political scene after the January 25 Revolution has been continuously called into question since the ousting of former president Hosni Mubarak.
Will Derks, program (...)
As a response to the fallout caused by the financial crisis in the past years, the Independent Commission on Banking was tasked in June 2010 by the UK government to consider reforms to the UK banking sector.
The move was a bid "to promote (...)
CAIRO: The Federation of Independent Unions said Tuesday that it “has strong reservations” about the workshops organized by the Ministry of Finance, that invited the International Labor Organization (ILO) to discuss the short-term plans for Egypt's (...)
CAIRO: Egypt and Germany signed an MOU to launch an initiative allowing Egypt to benefit from the German experience in industrial energy management and efficiency.
The MOU, titled "Energy Management and Rationalization in Egyptian Industry,” was (...)
CAIRO: Minister of Trade and Industry Samir El-Sayed announced Saturday a decision to lift the ban on gold exports, which was scheduled to continue until June 30. The decision drove up prices in the local gold market.
A statement on the (...)
CAIRO: Foreign direct investment (FDI) inflows to Egypt are expected to drop by over 40 percent this fiscal year, according to Chairman of Egypt's General Authority for Investment (GAFI) Osama Saleh.
FDI, a key revenue source for the economy, was (...)
CAIRO: “We see more opportunities for investment [in Egypt],” Rachid Al-Hamed, Kuwait's ambassador, said Wednesday at a conference in Cairo.
Entitled “Partners in Development,” organized by the General Authority for Investment, the seminar (...)
CAIRO: Egypt's net international reserves (NIR) dropped again last month to reach $30.1 billion, the lowest level in more than three years, on back of a drop in revenue sources and attempts to prop up the pound.
Analysts have said that this (...)
CAIRO: Minister of Finance Samir Radwan said that there is no “fiscal space” to increase the expenditure on the education and health sectors, during a press conference on Monday.
Titled “The Egyptian Economy: Short and medium term prospects”, the (...)
CAIRO: Egypt's real GDP contracted by 1.7 percent in the second quarter of fiscal year 2010/11 compared to the previous quarter, while growing 6 percent from the same period last year, according to figures released by the Ministry of Economic (...)
CAIRO: While Egypt's benchmark EGX 30 index ended the week in the negative, down 0.31 percent to 5,462 points on Thursday, the broader EGX 100 ended slightly higher than the previous day's close at 0.36 percent.
However, the main index had (...)
The Central Bank of Egypt's (CBE) board of directors have agreed to study possible amendments to Law 88 of 2003, which governs the regulatory body and the country's overall financial sector.
According to the state-run Al-Ahram, the board saw a (...)
CAIRO: Egypt's EGX 30 index was up by 3.01 percent at the close of trading Tuesday, registering 5,409 points after opening at 5251.3.
Egypt's broad EGX 100 index also ended in the green, closing up by 2.47 percent.
Selling was dominated by (...)
CAIRO: For the past year, Egypt's real estate sector has faced numerous challenges, including land disputes and corruption charges, that's beside a longstanding bureaucratic investment climate.
Not too long ago, the sector was the pride and joy (...)
CAIRO: Egypt is due to amend the controversial real estate tax law and delay its enactment, the finance minister told a state-run daily.
The ministry may postpone the enactment of the law for two or three years, while amendments seek to increase (...)
CAIRO: Two months after protests started culminating in the ousting of former President Hosni Mobarak, ongoing price hikes in food prices and worries over the sufficiency of reserves of strategic commodities have raised concerns on Egypt's ability (...)
CAIRO: Egypt's broad EGX 100 index closed up 0.86 percent, gaining 813 points on the second day of trading since Jan. 27.
The EGX 30 index fell 3.73 percent, opening at 5142.71 points and closing at 4,951.
Both indices fell by around 8.9 (...)
Although the Acting Exchange head Mohamed Abdel Salam said trading was suspended on 46 stocks, an emailed list sent out by the exchange only included 43.
* Misr Kuwait Investment & Trading
* Paper Middle East
* Paints and Chemical Industries (...)
CAIRO: “We are expecting less sales than previous years but our balance sheet is very solid,” Ahmed Badrawi, director of business development at SODIC, said at a conference Monday.
Publicly trading firms were invited to a conference organized by (...)
CAIRO: Investor relations executives of companies listed on Egypt's stock exchange were in the hot seat Monday as they answered questions regarding corruption cases, land deals and an overall volatile business environment.
A conference organized (...)
CAIRO: More than a month after the ousting of former president Hosni Mubarak, a vigorous assault on fraud and corruption is coming to fruition targeting businesses linked to the previous regime.
However, many in the business community have (...)
CAIRO: Aswan Governor Moustafa El-Sayed has ordered the reopening of a steel production plant in the governorate after a 12-year closure, according to local reports.
El-Sayed attributed the plant's closure to the prevailing anti-competitive (...)
CAIRO: Prime Minister Essam Sharaf said Sunday Egypt will continue to be a free market economy, but that this will be accompanied by policies that achieve social justice and welfare.
After the Egyptian government announced wage reform plans and (...)
CAIRO: At a finance ministry press conference Sunday, Kamal Abu Eita, one of the founders of the newly-created Independent Labor Union — not on the scheduled panel of speakers — was given the floor.
Things are not the same as before, he (...)
CAIRO: As food price inflation decreased to 18.2 percent in February from 18.9 percent the previous month, annual urban inflation also fell slightly to 10.7 percent from 10.8 percent in January, according to the latest CAPMAS figures.
“We (...)