Economy

Get the latest economic news and analysis on the Egyptian and global economy from the Daily News Egypt,

Latest Economy News

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

Turkey will invest $1bn in Egypt through Turkish companies in 2013, mainly targeting the steel, energy, cement, chemicals, tourism and infrastructure industries (AFP Photo)

$1bn Turkish investments in Egypt in 2013

The investments will target steel, energy, chemicals and tourism sectors

Mohamed Salah February 25, 2013

civil disobedience

Maritime shipping lines divert cargoes from Port Said to Eilat

Maritime companies shift cargo storage away from port said, losses rise to…

Daily News Egypt February 25, 2013

Residents of Port Said continued on Monday their civil disobedience for the second day. (File Photo) (Photo By Chetos)

civil disobedience

Economic experts: ‘Collapse’ of economy imminent if presidency continues to ignore demands

The continuing civil unrest threatens the economy if the government does not…

Daily News Egypt February 25, 2013

The Qatari Bank submitted a mandatory tender offer (MTO) for 100% of the NSGB shares, according to a statement by EFSA (AFP Photo)

Qatar National Bank buys 100% of NSGB

EFSA has approved QNB’s offer of EGP 38.65 per share for 100%…

Mohamed Salah February 25, 2013

Ministry of Finance is set to review the final draft of Egypt’s economic reform programme set to precede the acceptance of the country’s pending $4.8bn International Monetary Fund (IMF) loan. (Daily News Egypt)

Government to discuss final draft of economic programme next week

The country’s cabinet will then send a letter to the IMF with…

Daily News Egypt February 25, 2013

$Egyptian investors are set to present the Suez Canal Regional Development Plan to Russian investors during both the Arabia Expo and during a number of meetings sponsored by the Egyptian-Russian Business Council (AFP\Photo)$

Suez Canal Axis

‘Suez Canal Axis’ development plan presented to Russian investors at Arabia Expo

Egyptian businessmen will hold a number of meetings sponsored by the Egyptian-Russian…

Daily News Egypt February 25, 2013