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Politics Hosni Mubarak

  • April 19- Egypt's economy is expected to grow 4.0 percent in the 2016/ 17 fiscal year ending in June, broadly in line with the finance minister's latest projection of 3.8 to 4 percent, a Reuters poll showed on Wednesday. The government has announced a sleuth of reforms including a currency float, fuel subsidy cuts and a value-added tax in an effort to bolster the...

  • CAIRO, March 21- Egypt aims to raise 6 billion pounds from the sale of stakes in state companies in the 2017/ 18 financial year, Finance Minister Amr El Garhy told Reuters, part of government efforts to generate revenue and attract investors. Egypt plans to offer shares in several public companies, mainly in the petroleum and financial sectors, on the stock exchange...

  • SINGAPORE, March 17- Chicago soybean futures lost ground on Friday with the market set for a second week of declines as a record Brazilian supplies hit the market and near-perfect weather in Argentina boosts supply prospects. The Chicago Board Of Trade most-active soybean contract lost 3.6 percent in its biggest two-week fall since early February.

  • CAIRO, Feb 13- Egypt's core inflation has soared to its highest level in more than a decade, hitting 30.86 percent in January as the effects of a currency float and IMF-endorsed austerity measures ripple through an economy undergoing painful reforms. Prices have risen sharply since Egypt abandoned its currency peg to the U.S. dollar on Nov. 3.

  • *Currency's dive makes imported goods unaffordable for many. CAIRO, Feb 12- Egyptian chocolate spread maker Swifax has doubled its sales and is struggling to keep up with demand since the pound currency dived in November, forcing shoppers traditionally "obsessed with everything foreign" to ditch pricy imports and buy local. "People started changing their...

  • *Many in Cairo decry rising prices. But on the streets of Cairo it is hard to find people who agree. But while Egypt has floated its currency with the aim of easing a shortage of the dollars it needs to import goods, taxes have gone up, subsidies have been removed and inflation at around 20 percent is eating away at living standards, hitting the poor hardest.

  • *Many in Cairo decry rising prices. But on the streets of Cairo it is hard to find people who agree. But while Egypt has floated its currency with the aim of easing a shortage of the dollars it needs to import goods, taxes have gone up, subsidies have been removed and inflation at around 20 percent is eating away at living standards, hitting the poor hardest.

  • CAIRO, Jan 4- The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment. Until now, Egypt has had no specific law on bankruptcy, meaning failed companies have had to go to court on a case-by-case basis. Egypt is in the process of passing a...

  • CAIRO, Jan 4- The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment. Until now, Egypt has had no specific law on bankruptcy, meaning failed companies have had to go to court on a case-by-case basis. Egypt is in the process of passing a...

  • CAIRO, Jan 4- The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment. Until now, Egypt has had no specific law on bankruptcy, meaning failed companies have had to go to court on a case-by-case basis. Egypt is in the process of passing a...

  • CAIRO, Jan 4- The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment. Until now, Egypt has had no specific law on bankruptcy, meaning failed companies have had to go to court on a case-by-case basis. Egypt is in the process of passing a...

  • *Egypt grain importers see over $1 bln in FX losses. CAIRO/ ABU DHABI Nov 24- Huddled in the Radisson Blu hotel on the outskirts of Cairo last week, some of Egypt's top wheat traders talked damage control: they had lost more than $1 billion since the country floated its currency and now they wanted to be bailed out. Egypt took markets by surprise on Nov. 3 when it abandoned...

  • *Egypt grain importers see over $1 bln in FX losses. CAIRO/ ABU DHABI Nov 24- Huddled in the Radisson Blu hotel on the outskirts of Cairo last week, some of Egypt's top wheat traders talked damage control: they had lost more than $1 billion since the country floated its currency and now they wanted to be bailed out. Egypt took markets by surprise on Nov. 3 when it abandoned...

  • CAIRO/ WASHINGTON, Nov 11- Egypt won International Monetary Fund approval on Friday for a three-year, $12 billion bailout program aimed at reviving a struggling economy, bringing down public debt and controlling inflation while seeking to protect the poor. IMF Managing Director Christine Lagarde described the Egypt bailout as a "homegrown economic program"...

  • CAIRO, Nov 9- Egypt's newly floated pound strengthened on Wednesday after the International Monetary Fund indicated it would approve a $12 billion loan deal the government hopes will help avert an economic crisis. Egypt has said it expects to receive the first $2.75 billion installment from the IMF as early as next week, bringing fresh dollar inflows into the...

  • CAIRO, Oct 27- China Fortune Land Development Company expects to finalize its $20 billion deal to develop part of Egypt's new capital by the end of 2016 and break ground early next year, a partner on the project told Reuters. Egypt's ambitious plan to construct a new metropolis 45 km east of Cairo made a big splash when it was announced in March 2015 at a Sharm...

  • CAIRO, Oct 27- China Fortune Land Development Company expects to finalise its $20 billion deal to develop part of Egypt's new capital by the end of 2016 and break ground early next year, a partner on the project told Reuters. Egypt's ambitious plan to construct a new metropolis 45 km east of Cairo made a big splash when it was announced in March 2015 at a Sharm...

  • Abdel-Fattah el-Sissi

    The co-chief executive of EFG Hermes told CNBC that Egypt was undergoing political rejuvenation, meaning it had a lot to offer investors.

  • We would live to regret cutting Egypt aid: US expert

    Dennis Ross, Counselor at The Washington Institute and former special aide to the Obama administration, explains why Egypt's regional importance would make walking away a mistake for the U.S.

  • Egypt's Mubarak cleared of corruption charges

    A criminal court in Cairo orders the release of ousted president Hosni Mubarak. Ayman Mohyeldin is live in Egypt with the details.