Business - Economy

Palm Hills: engine of growth or example of crony capitalism?

Marriage of politics and business, allegations of nepotism, favouring the rich. Palm Hills Development has been hailed as a job-creating engine of growth, and damned as yet another example of crony capitalism

$250 million USAID fund for Egypt poverty reduction

Egypt is to receive $250 million fund from USAID to eliminate poverty, and boost infrastructure projects.

Egypt Central bank keeps interest rates constant

Egyptian interest rates remain constant as the Central Bank yesterday announced its overnight rates.

World Bank $330 fund for Egyptian railway

An extra fund of $330 million by the World Bank will be directed to upgrade the Egyptian Railway.

IMF steps in to rescue Ireland

Ireland was rescued by the international monetary fund with an aid package worth $30.1 billion, in order to get out of its debt crisis

Housing & Development Bank 9-mth profit down 13.3%

Egyptian lender Housing and Development Bankposted a 13.3 percent fall in nine-month net profit to 170 million Egyptian pounds ($29 million).

The Central Bank of Egypt under pressure by new facts of life

As Bank's Monetary Policy Committee meets today to discuss rates, no changes are expected. Inflation remains in check but some criticize that corporate lending remains low

Oil and gas officials to be sued for the new gas exports deal to Israel

New agreements to export natural gas to Israel are thought to be as contentious as their predecessors

India's central bank keeps key interest rates unchanged

The interest rates remain constant by the central bank of India avoiding future hike, because of previous 6 increases.

The fate of ministry of investment is in the hands of Rachid

Many predict that the ministry of investment will be divided into three entities

Libya to fund most of $20 billion Egypt housing project

Libya is investing heavily in an Egyptian real estate project to provide housing for young Egyptians

"Omar Effendi" faces bankruptcy petition for an unpaid bill of $17,249

A bankruptcy petition has been filed against Egypt's most famous department stores, Omar Effendi, for unpaid furniture bills

Government to back new bill introducing public service fixed term contracts

A new law regarding public service employees might reshape the relationship between public servants and the State

Egyptians shocked by price hikes of "food joker"

Foul, the most essential Egyptian dish, experienced a price increase due to cut in local production

Sharm El-Sheikh to host 2012 IMF/World Bank meetings

In an official government statement on Tuesday, the ministry of finance announced that the 2012 IMF/World Bank Annual Meetings would be hosted in Sharm El-Sheikh

New Egyptian gas deal with Israel

Middle East Gas signed a new deal to export Egyptian gas to Israel for the next 20 years

Nigeria may be Africa's 1st BRIC, but long way off

Nigeria is the most probable African contender to join the BRIC, investors say

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