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…
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,…
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…
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…
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…
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…
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…
Ailing Ayman Nour faces five new charges
CAIRO: Jailed political activist and former leader of the Al-Ghad opposition party Ayman Nour underwent a cardiac catheter in Al Qasr El Eini Hospital yesterday, his lawyer told The Daily…
Kerry says the US should have listened to Mubarak
All the unrest in the Middle East is interconnectedCAIRO: US senator for Massachusetts and former American presidential candidate John Kerry told reporters on a visit to Cairo last week that…
Nazif gives government top grades at People's Assembly brief
CAIRO: Prime Minister Ahmed Nazif addressed the People s Assembly Tuesday in his governor s statement to report the progress and reforms the government has achieved in its first year…