Business
EGX shares market value falls LE700 million
February 28, 2013
EGX shares market value falls LE700 million
Shares were down overall by the end of trading Thursday on the Egyptian Stock Exchange. The EGX30, the exchange’s main…
Egypt hopes for IMF deal by late April, minister says
February 28, 2013
Egypt hopes for IMF deal by late April, minister says
Egypt hopes to conclude a deal with the International Monetary Fund for a $4.8 billion loan by the end of…
Flour subsidies at stake as bakers plan mass strike
February 28, 2013
Flour subsidies at stake as bakers plan mass strike
A meeting Thursday between government officials and bakery owners has temporarily averted a mass strike planned for Friday. Bakery owners…
Cement price bump prompts monopoly allegations
February 27, 2013
Cement price bump prompts monopoly allegations
A recent rise in cement prices has raised a red flag for Egypt's Consumer Protection Agency amid increased production and…
Ratings agency predicts further delay to IMF deal
February 27, 2013
Ratings agency predicts further delay to IMF deal
Egypt's extended election timetable could delay a $4.8 billion IMF loan agreement until the third quarter, Fitch Ratings said Wednesday,…
New tax casts gloom over stock exchange
February 27, 2013
New tax casts gloom over stock exchange
The EGX30, the Egyptian Stock Exchange's main index, fell 0.55 points Wednesday, continuing its downward spiral that began last week.…
Cabinet approves draft Islamic bonds law
February 27, 2013
Cabinet approves draft Islamic bonds law
The Cabinet approved a draft law governing the issuance of Islamic bonds, known as sukuk, on Wednesday. The proposed regulatory…
Energy subsidies will disappear by 2016, says minister
February 26, 2013
Energy subsidies will disappear by 2016, says minister
Minister of Industry and Foreign Trade Hatem Saleh said Tuesday that energy subsidies for industrial firms would disappear over the…
Revised economic plan hikes cigarette, iron, cement, alcohol taxes
February 26, 2013
Revised economic plan hikes cigarette, iron, cement, alcohol taxes
Egypt’s amended economic reform plan will raise taxes on cigarettes, alcohol, iron, cement, carbonated drinks and mobile phone use. It…
Egyptian stock market falls 0.03 %
February 26, 2013
Egyptian stock market falls 0.03 %
The EGX30, the Egyptian Stock Exchange's benchmark index, fell 0.03 percent Tuesday, signaling a possible slowdown since it began reporting…