Economy

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Swarms of locusts originating from the winter breading areas on the Red Sea coastal plains and subcoastal areas in northeast Sudan and southeast Egypt, threaten Egyptian crops (AFP Photo)

Locusts swarm poses threat to crops

Vast numbers of locusts targeted areas of Upper Egypt, Hamata, Baranis, Sheikh…

Daily News Egypt February 27, 2013

Workers’ protests and strikes have been triggered by recent fuel shortages, tax increases and price hikes. Thousands have been also protesting to have permanent working contracts and substitute jobs. Photo: The Portland Cement Company's workers' protest (Photo courtesy of Facebook)

civil disobedience

Workers’ strike continues amid Morsi’s economic decisions

Workers have been demanding permanent working contracts, while protesting price hikes and…

Daily News Egypt February 26, 2013

For diesel, oil and LPG pipelines, a smart cards system will be introduced for subsided diesel and oil (AFP Photo)

Al-Morsi Hegazy

Shura Council to deliberate tax reform bill within 48 hours

Finance Minister Al-Morsi Hegazy left 15 minutes into the Ministry's press conference…

Hend El-Behary February 27, 2013

The economic committee at the Shura Council continued deliberating the sukuk bill as it discussed the technical aspects of the project law. (File Photo) (AFP Photo)

El-Najjar: Ministry of Finance to issue Sukuk law in June

During its meeting on Tuesday, the economic committee at the Shura Council…

Mohamed Salah February 26, 2013

Tariq Hamad, dean of the Business School at Ain Shams University stated that foreign investment within Egypt had dried up over the last two years, pointing out that the country’s foreign currency reserves had also dropped to $13bn (AFP Photo)

‘Save Egypt’s Economy’ Conference: Round-up

Economists at the conference offered suggestions regarding closing the widening budget deficit…

Daily News Egypt February 26, 2013

Minister of Finance Al-Morsi Hegazy met with Sir Michael Bear (pictured), the Alderman of the ward of Portsoken, to promote Egyptian PPP projects to British investors (Wikimedia Commons/Lee-Anne Inglis)

Al-Morsi Hegazy

Finance minister invites British investors to participate in PPP projects

‘World Finance’ awards Egypt ‘Best Water Project, Middle East & Africa’ award

Mohamed Salah February 26, 2013

Morsi described IMF as a “testament to how capable Egypt is in transitioning economically, rather than a funding opportunity”. (AFP Photo /Egyptian Presidency)

Al-Morsi Hegazy

IMF loan talks to resume in March

IMF loan negotiations with Egypt are to resume early March after talks…

Daily News Egypt February 26, 2013

“The country is running several development projects in the Suez Canal, North Siwa, Nubia, New Valley, Nasser Lake and North Coast,” Morsi said. AFP PHOTO/KHALED DESOUKI

Morsi introduces massive national projects

President Mohmed Morsi made a television appearance yesterday with TV host Amr…

Daily News Egypt February 25, 2013

The Bakeries Owners’ Division at the FCC had warned that it will protest against the ministry of supply ignoring their demands to supply them with the difference in new diesel prices, and paying due incentives. (AFP Photo)

FCC ‘boycotts’ Ministry of Supply

Ouda had warned owners of bakeries on Saturday not to go on…

Hend El-Behary February 25, 2013

The next government is set to propose a new worldwide investment plan that will seek to establish industrial zones in three parts of the Suez Canal region, the first being the North-West Gulf of Suez region. (AFP photo)

Minister of Industry: Development of Suez Canal industrial hubs will boost revenues $50bn yearly

Current government plans to develop Suez Canal industrial hubs will increase the…

Daily News Egypt February 25, 2013