Orascom and a group of American investors, among them Microsoft giant Bill Gates, have set into motion a transaction set to transition Orascom Construction Industries into a Dutch company to be known as OCI N.V.
The transaction, which is yet to be (...)
A recently drafted law on how the government will issue sukuk (Islamic-sanctioned bonds) has drawn criticism from religious figures and financial scholars alike, although state officials tout the bonds as the way out of the nation's financial (...)
Egyptian officials have asked to postpone a request for a US$4.8 loan from the International Monetary Fund, loan officials said Tuesday, derailing a lengthy process of negotiating that began soon after the uprising against former President Hosni (...)
The doors and windows of the businesses that line Tahrir Square were shuttered again one morning last week, after nearly a week of clashes between protesters and security forces downtown had killed at least three.
On a street nearby, Blue Sky Travel (...)
The IMF loan agreement Egypt reached last week with the fund's delegation has not been directly affected by President Mohamed Morsy's constitutional declaration increasing his executive and judicial powers, a spokesperson from the IMF told Egypt (...)
Um Islam, of the informal Ard al-Lewa neighborhood in northwest Giza, knows just where to find the cheap and good-sized eggplants in her local market.
After making her way past a series of stalls offering baskets of the oblong vegetable, many of (...)
The comic book begins much as would be expected: Marvel comics' the Avengers and Spiderman assemble to battle a villain intent on destroying humankind. But there's a twist.
Set in a modern bank, the superheroes battle a villain intent on robbing the (...)
Egypt was named as the 10th riskiest debtor in the world in a study by CMA Sovereign Global, a research agency for unlisted stocks and capital that is part of the Standard and Poor ratings agency.
The study, based on numbers from the third fiscal (...)
Officials are making a concerted effort to assure foreign and domestic investors that the climate for business is safe and friendly after the stock market took a hit Monday due to some tough rhetoric on corporate corruption from President Mohamed (...)
The government needs to do more to further encourage foreign investment and face its own growing budget deficit soon, or else the economy could down spiral further, a panel of bankers and economists said on Wednesday.
“The government has to set the (...)
Officials tried to assure foreign and domestic investors that the local climate for business is safe and friendly on Tuesday, after the Egyptian stock market took a hit Monday due to some tough rhetoric on corporate corruption from President Mohamed (...)
With a mobile phone in the hands of nearly every Egyptian and three large companies vying to provide customers with affordable mobile services, the telecommunications industry is often touted as one of the most competitive and successful of the (...)
The Egyptian government entered negotiations with the International Monetary Fund for a US$4.8 billion loan on Wednesday, taking the most concrete step in accepting the money since the loan was first proposed over a year ago.
Following a meeting (...)
Egypt has been in the grips of an on-again, off-again fuel shortage for over a year now, with massive lines outside gas stations across the country causing headaches for drivers and sometimes even violent confrontations.
It is frequently portrayed (...)
With a loan deal between Egypt and the International Monetary Fund still uncertain and foreign investors still wary of returning, Egypt's Central Bank will likely have no choice but to devalue its currency in the coming months. But currency (...)
When public prosecutors and gun-wielding Central Security Forces stormed the Cairo office of the National Democratic Institute (NDI) in late December, they spent hours rummaging through the office, took some files and equipment, and suddenly left, (...)
A travel ban enforced on American employees of two US NGOs has proved to be a litmus test for the state of relations between Washington and the interim government in Cairo.
The two have remained uncertain partners since the military council came to (...)
Egypt's ruling generals in recent days have issued a wave of promises to the country's protestors, dissidents and victims of political unrest in what seems to be an attempt to cool revolutionary fervor before the anniversary of the start of the (...)
In an attempt to spur the local economy from within, 16 December was dubbed “Buy Egyptian Day” by various business and government officials. Shops offered 5 to 10 percent off Egyptian-made goods, from fine men's ties to furniture and rugs.
But it's (...)
When Anwar Sadat abandoned Egypt's alliance with the Soviet Union in the mid-1970s, he forged an alliance with the United States government and military that would shape his country's foreign policy for decades. Since then, officials in Washington (...)
By 12 noon numbers were steadily increasing in Tahrir Square, well into the thousands. The protesters were mostly young people, but some families were also present.
Mohsen Awf, 42, a microbus driver from Damietta, said "I came to the square because (...)
After falling more than 10 points this week, Egypt's stock exchange is taking measures to ensure that it stays open despite the events in Tahrir, authorities say, to prevent further investor panic.
“We are trying to keep the exchange from closing,” (...)
Thursday's papers are a dominated by announcements of a return to Tahrir Square Friday and continuing dissension around a supra-constitutional principles document being circulated by Deputy Prime Minister Ali al-Selmy.
Hazem Abu Ismail, an Islamist (...)
As Egyptian civil society calls for the eradication of debts incurred under former President Hosni Mubarak, Egypt's government continues to borrow money from the World Bank for development programs that were negotiated under Mubarak's (...)
In "Arabi Liblib," students of Egyptian colloquial can learn to express themselves with the swagger and savvy of someone born and raised on the side streets of Cairo.
“Your father is an onion and your mother is garlic, where do you think you get (...)