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Hosni Mubarak

  • *Egypt expects to save $4.2 bln due to cheap oil in 2014/ 15. *Gulf allies provided $10.6 bln in aid to Egypt last year. CAIRO, Dec 23- The fall in global oil prices will cut Egypt's fuel subsidy bill but could hit the finances of oil-exporting Gulf allies who have showered it with billions of dollars in aid.

  • INTERVIEW-BG in advanced talks with BP over Egypt deal Wednesday, 10 Dec 2014 | 8:32 AM ET

    *BG eyeing deals to pump gas from Israel, Cyprus, to Egypt. CAIRO, Dec 10- British gas company BG is in advanced talks that could boost supplies to power-hungry Egypt by allowing rival BP to use its pipelines, the head of BG Egypt told Reuters. Egypt is battling its worst energy crisis in decades.

  • UAE-Egypt alliance expands to desert wheat venture Friday, 5 Dec 2014 | 11:03 AM ET

    *UAE providing billions in cash, fuel, projects to Cairo. ABU DHABI/ CAIRO, Dec 5- Egypt and two companies from its strong backer United Arab Emirates have embarked on an ambitious plan to grow wheat in the desert that could boost the Cairo government's credibility if successful. As Egypt recovers from turmoil following the 2011 revolt that toppled Mubarak, Gulf...

  • CAIRO, Nov 28- Egypt has paid back $2.5 billion that Qatar deposited with it to help prop up the Egyptian central bank's hard currency reserves, a central bank official said on Friday night, as the Qatari foreign minister arrived in Cairo for Arab League talks. The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding,...

  • CAIRO, Nov 13- Egypt plans to repay all of the $4.9 billion debt owed to foreign oil and gas companies within six months, the oil ministry said on Thursday, a move it hopes will prompt them to step up exploration and ease the worst energy crunch in decades. Egypt has delayed payments to oil and gas firms as its economy has been hammered by almost three years of...

  • CAIRO, Oct 27- From mega-projects to tax reforms, Egyptian ministers presented detailed initiatives last week to revive an economy battered by three years of upheaval and decades of neglect. Quizzed about Egypt's political challenges, however, they had less to say. Marking themselves out from predecessors, the ministers spoke with candour about the enormity...

  • CAIRO, Oct 21- Egypt is seeking billions of dollars in investment to upgrade its telecommunications infrastructure as part of efforts to attract multinationals and restore growth after three years of political upheaval, the telecoms minister said. Atef Helmy said Egypt needs investment of $5- $6 billion to build broadband internet across the nation and some...

  • CAIRO, Oct 20- SODIC, one of Egypt's largest listed real estate developers, plans to invest 2.4 billion Egyptian pounds in 2015 and is hunting for new projects as the sector recovers from three years of turmoil, its managing director said. Egypt's once-booming construction sector was hit hard by the 2011 revolt that ended Hosni Mubarak's 30- year rule but ushered...

  • CAIRO, Oct 20- Egypt needs an "economic revolution" to recover from damage caused by political instability as it seeks to attract billions of dollars in foreign investment and repair its state finances, planning minister Ashraf al-Arabi said. To compensate for those losses and eventually compete globally, Egypt must overhaul an economy which has been...

  • CAIRO, Oct 2- Egypt's economy is set to grow 3.3 percent this fiscal year, according to economists polled by Reuters, who nudged up their forecasts from last quarter as confidence has started to return. Egypt has received more than $12 billion in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed Mursi of the Muslim...

  • *Sisi hails Suez Canal expansion as flagship project. CAIRO, Sept 30- In his first 100 days in office, Egyptian President Abdel Fattah al-Sisi has made a fast start on economic reform: slashing costly fuel subsidies, raising taxes and devising infrastructure projects to secure long-term revenues and ease unemployment.

  • CAIRO, Sept 25- Egypt's current account deficit shrank to $2.4 billion in the 2013-14 fiscal year from $6.4 billion the previous year, boosted by billions of dollars in aid from Gulf Arab donors, the central bank said on Thursday.

  • CAIRO, Sept 15- Egypt's tourism industry, battered by three years of political upheaval and street protests, could fully recover by the end of 2015 if current levels of stability persist, the tourism minister said.

  • *Egypt experiencing worst energy crisis in decades. CAIRO, Aug 3- Egypt is looking to borrow at least $1.5 billion from local and international banks in order to repay debt owed to foreign oil companies operating in the country, Oil Minister Sherif Ismail told Reuters on Sunday.

  • *Cairo stock market rise reflects optimism, challenges remain. CAIRO, July 23- Egypt's new president Abdel Fattah al-Sisi has made a head start on tackling the country's economic problems, managing to introduce long-awaited subsidy reform without stirring popular unrest.

  • CAIRO, July 17- Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity.

  • CAIRO, July 16- Western consultants helping Egypt compile an economic reform plan say it needs at least $60 billion of investment to reach average GDP growth of 5 percent by 2018 and the same amount again to bolster its foreign reserves, senior officials said.

  • CAIRO, July 16- Western consultants helping Egypt compile an economic reform plan say it needs at least $60 billion of investment to reach average GDP growth of 5 percent by 2018 and the same amount again to bolster its foreign reserves, senior officials said.

  • SALLOUM, Egypt July 13- A few days before he was elected Egypt's president in May, Abdel Fattah al-Sisi discreetly visited tribesmen living along the border with Libya.

  • Egypt cuts natural gas subsidies to factories Saturday, 5 Jul 2014 | 6:28 AM ET

    CAIRO, July 5- Egypt slashed its natural gas subsidies to several industries increasing gas prices by 30-75 percent, part of a broad government strategy to cut back subsidies that eat up to a fifth of its annual budget.