Business - Economy

Egypt's wealthiest family loses ground in Arab Business rich list

The Sawiris, Egypt's biggest business family, have declined in rankings on Arab Business magazine's annual list of the Arab world's wealthiest. The Heikel brothers make their first-ever entry

US Fed extends dollar lifeline for central banks

Deal had been due to expire in January that allows central banks to trade in dollar

China raises petrol and diesel prices

Fuel prices rise for a third time this year as inflation increases for fastest rate in 2 years

Turkey offered credit facility by Europe

Sustainable energy projects to benefit from funding

Cabinet think tank says reforms reliant on trust

Director of the Cabinet's think tank tells Al-Ahram Online that the government needs to foster the country's trust for reforms to have any chance

Public-private partnerships can be risky for Egyptian government

While the government seeks private investment for infrastructure projects, some fear that regulations in place do not protect the government against dangerous risk

Tomato prices went down, sugar and flour went up in November

In November, the price of tomatoes shrank, while prices of sugar and flour rose. The price of grains, beans, local and imported meat, frozen fish and milk products remained stable

Bangladesh borrows $1.6 billion from Islamic development Bank

The Bangladesh oil imports in 2011 were boosted by a loan worth $ 1.6 billion provided by the Islamic development Bank

Egypt drops cash cover requirement on sugar import, to boost local demand

To fight supply shortages the Central Bank of Egypt exempted 50 per cent cover requirement on sugar imports for a 6 months period

Bank of Montreal buys US bank for $4.1B

Toronto-based BMO Financial Group announces its acquisition of Milwaukee-based Marshall & Ilsley a $4.1 billion all-stock deal expected to close by July

Yahoo! cuts staff, reinvents itself

Having laid off about 6oo of its employees, Yahoo thinks it's time to reinvent itself

IMF releases Greek Eur 2.5 bln loan

The International Monetary Fund approved release of EUR 2.5 billion for the Greek bailout after the country passed its third program review.

China, Pakistan to formalise $ 10 billion deals

Closest allies Pakistan and China are finalizing another set of trade deals worth $ 10 bln

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

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