Mohsen Abdel Razeq

Finance Minister Beblawy backtracks on pledged resignation
Egypt

Finance Minister Beblawy backtracks on pledged resignation

Egypt's Finance Minister Hazem al-Beblawy has told Al-Masry Al-Youm he will maintain his post after the ruling Supreme Council of…
Banking sources: Egypt to extend tenure of central bank chief
Business

Banking sources: Egypt to extend tenure of central bank chief

Egypt’s ruling Supreme Council of the Armed Forces (SCAF) is leaning toward extending the tenure of Central Bank of Egypt…
Egyptian government considers IMF loan package again
Business

Egyptian government considers IMF loan package again

The Egyptian government is considering an International Monetary Fund (IMF) loan package that was rejected in the past, said Deputy…
Finance minister urges government to abide by state budget allocations
Business

Finance minister urges government to abide by state budget allocations

Finance Minister Hazem al-Biblawy on Tuesday urged the government to adhere to the allocations given in the state budget, and…
Finance minister: No budget allocations for public sector salary increases
Egypt

Finance minister: No budget allocations for public sector salary increases

The Finance Ministry is not involved in the Public Transport Authority (PTA) crisis and therefore there will be no budget…
Sources: CBE’s governor to be reinstated for one more year
Business

Sources: CBE’s governor to be reinstated for one more year

Egypt's ruling military council and the prime minister's cabinet are considering reinstating the Central Bank of Egypt governor and board…
Finance Ministry announces changes to its leadership
Egypt

Finance Ministry announces changes to its leadership

The Finance Ministry on Wednesday announced a number of changes in its leadership, involving the director of the finance minister’s…
Government considers doing away with gas subsidies
Business

Government considers doing away with gas subsidies

The government is reconsidering its policy of subsidizing petroleum products, said Petroleum Minister Abdullah Ghorab.
Finance minister: No more privatization or nationalization
Business

Finance minister: No more privatization or nationalization

The government will no longer privatize government-owned companies or nationalize private ones, said Finance Minister Hazem al-Beblawy in a press…
Foreign direct investment falls by 75%
Business

Foreign direct investment falls by 75%

Foreign direct investment fell by 75.1 percent in the first quarter of 2011 compared to the last quarter of 2010,…
Minimum wage set at LE708 per month
Business

Minimum wage set at LE708 per month

The Ministry of Finance on Monday raised the minimum wage by 59 percent from LE444 to LE708 per month for…
Official disputes reports of Gulf aid to Egypt
Business

Official disputes reports of Gulf aid to Egypt

An anonymous government official said Egypt has not received the aid packages and loans reportedly agreed upon with Arab countries,…
Minimum wage reduced to LE684 in new state budget
Business

Minimum wage reduced to LE684 in new state budget

Field Marshal Mohamed Hussein Tantawy, head of the Supreme Council of the Armed Forces (SCAF), has endorsed the 2011/2012 state…
Govt to reduce petroleum subsidies
Business

Govt to reduce petroleum subsidies

The Petroleum and Solidarity and Social Justice ministries are scheduled to begin reducing petroleum product subsidies in July. The plan…
Banque du Caire negotiates US$2 bn loan for petroleum sector
Business

Banque du Caire negotiates US$2 bn loan for petroleum sector

Banque du Caire has started negotiations with Petroleum Export Limited to secure a US$2 billion loan to finance imports of…
Ministry of Finance: State budget was not amended
Business

Ministry of Finance: State budget was not amended

Sources at the Ministry of Finance said the Supreme Council of the Armed Forces did not amend any provisions of…
Finance minister: Saudi Arabia offers US$200 million in aid
Business

Finance minister: Saudi Arabia offers US$200 million in aid

Finance Minister Samir Radwan on Thursday said Saudi Arabia has offered the Egyptian government US$200 million in financial aid to…
No new government jobs for fresh graduates
Business

No new government jobs for fresh graduates

The Finance Ministry on Tuesday announced that the government will not be offering new jobs to fresh university graduates, a…
Documents implicate former finance minister in bonuses scam
Egypt

Documents implicate former finance minister in bonuses scam

Former Finance Minister Youssef Boutros-Ghali designated a special budget for paying ministry personnel bonuses and incentives in violation of the…
Finance ministry to present budget before end of March
Business

Finance ministry to present budget before end of March

The Finance Ministry has completed the projected state budget for the 2011/2012 fiscal year, and will present it to the…
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