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Politics Hosni Mubarak

  • 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...

  • CAIRO, Oct 23- A cartoon which appeared on social media shows a drowning Egyptian, only his hand protruding from the depths, waving for help. The next strips show President Abdel Fattah al-Sisi diving in, taking the drowning man's watch and turning away. As part of reforms aimed at clinching a $12 billion IMF loan needed to plug its gaping budget deficit, the...

  • CAIRO, Oct 23- A cartoon which appeared on social media shows a drowning Egyptian, only his hand protruding from the depths, waving for help. The next strips show President Abdel Fattah al-Sisi diving in, taking the drowning man's watch and turning away. As part of reforms aimed at clinching a $12 billion IMF loan needed to plug its gaping budget deficit, the...

  • *Egypt reserves expected to exceed $25 billion by year-end. CAIRO, Sept 22- Egypt is rebuilding its foreign reserves with the help of loans and aid, easing a shortage of dollars and preparing the way for a loosening of its fixed exchange rate. Egypt has struggled to earn dollars since a 2011 revolt drove away tourists and foreign investors.

  • 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.