Is Kefaya tearing apart?
CAIRO: When Kefaya, The Egyptian Movement for Change, kicked off its first pro-reform demonstration in December 2004 then continued to agitate throughout 2005, it was lauded as the cure to…
Central Bank raises overnight rates 0.25 percent to combat rising inflation
Analyst views decision with guarded optimismCAIRO: The Central Bank (CB) has raised overnight deposit and lending interest rates by 0.25 percent to 8.75 and 10.75, respectively, CB Deputy Governor Tarek…
Sodic board approves Palm Hills acquisition
Combined land assets to exceed 12 million sq m upon shareholder approvalCAIRO: Sixth of October Development and Investment Company (Sodic) board members approved Monday the acquisition of 100 percent of…
Government official: IT exports to hit $1 billion by 2010
SECC looks to export its services to Gulf marketCAIRO: Egyptian information technology (IT) sector exports are on track to reach $1 billion (LE 5.71 billion) by 2010, Gamal Aly, chairman…
Government internal debts remains in safe area
Minister of Finance Youssef Boutros Ghali said the government internal debt as a percentage of Gross National Product is still in a safe area.In a statement released Monday, the minister…
IMF says Egypt could cut budget deficit faster
CAIRO: The Egyptian government could cut its budget deficit faster without compromising economic growth, the International Monetary Fund said on Monday.In a statement issued in Cairo after an IMF visit,…
Chinese state company to establish chemicals factory in Fayoum
Factory production to meet almost 20 percent of local demand of soda-ashCAIRO: China National Chemical Engineering Corporation (CNCEC) and The National Bank of Egypt (NBE) announced Monday a new partnership…
Government allocates Bank of Alexandria sale proceeds to settling public company debt
LE 20 billion sewage infrastructure project put on holdCAIRO: The Ministry of Investment (MOI) and Central Bank (CB) said Sunday the government has begun the second phase of settling public…
Photography competition "A Lens to the Past"
"Photography is a way of feeling, of touching, of loving. What you have caught on film is captured forever ... it remembers little things, long after you have forgotten everything.…
Aboul Gheit boosts economic relations with India and Pakistan
CAIRO: Egypt is aggressively pursuing closer relations with its traditional Asian allies, India and Pakistan. Foreign Minister Ahmed Aboul Gheit met with the countries foreign ministers earlier this week to…
