Business - Economy

"Make your dreams come true", with public sector loans

Public banks are teaming up with the Egyptian Ministry of Finance to pump billions into the economy in the way of loans to public sector employees

US: Terrorists threaten global trade

US Homeland Security Secretary says governments must step up cooperation to thwart shipments terrorists could use

Record high food prices stoke economic fears

The high price of food is moving up the policymaker agenda, driven by fears of spreading inflation that could dent consumer demand in emerging economies

OECD area inflation eases to 1.8 per cent

Declining energy prices were behind the recent ease in inflation rates in advanced economies, according to OECD

Irish official unemployment rises to 13.4 per cent

Ireland`s unemployment rate climbed 13.4 per cent in December, as the Irish parliament voted in favour of an $88 billion EU and IMF bailout

China to buy $7.9 billion of Spanish debt

In meeting with Spanish PM, China expresses willingness to purchase some $7.9 billion of Spain's public debt

World Bank issues first yuan-denominated bond

The issuing of the first Yuan-dominated bond by the World Bank follows the initial Yuan bond offering in Hong kong last September and is set to boost the currency's position in the global markets

9 million housing units exempt from real estate tax

The minister of finance stated that almost 9 million housing units are excluded from the real estate tax, which went into effect January, 2011

FAO food price index hits record high in December

Global food prices rise for the sixth month in a row, with FAO index hitting record high, just above levels recorded during the 2007/08 2008 crisis

Egypt's growth around 6 per cent in Q4 2010

Spokesman for the cabinet says growth is due to tourism, Suez Canal and construction activity

Egypt cabinet approves outlines of new land law

Cabinet to finanlize a new bill to organize the distribution of Egytp's land bank

Crisis to watch: Minimum wage dispute into 2011

After a court demanded new minimum wage, dispute continues over the LE400 ($70) monthly sum proposed by the government

Egypt's FIHC buys 26,000 tonnes of edible oils

State owned company makes bulk purchase of oil products

Crisis to watch: Egypt's 2011 food prices

The increase in world food prices raise concerns about a high inflation come-back in Egypt. Such a development will push millions of Egyptians into poverty and increase pressure on the state budget

I promise to resolve the wage crisis, says head of parliament economic committee

The newly appointed member of parliament and distinguished economist, Samir Radwan, promises a fair wage for Egyptians

Court will hear Bin Talal and Palm Hills cases today

Land sales to the Kingdom Agricultural Development and Palm Hills Development will be considered in court today

Fears high prices will push Afghans back to opium trade

Few alternatives and a ready demand make the illicit crop an obvious choice for the 1.7 million farmers in Afghanistan who grow opium

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