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Hosni Mubarak

  • 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...

  • Moody's raises Egypt's outlook to stable Monday, 20 Oct 2014 | 11:03 AM ET

    CAIRO— Moody's Investor Services said Egypt's political and security situation has stabilized, raising the country's outlook from negative to stable. However, Moody's stopped short of upgrading Egypt's government bond rating; the rating will remain at "Caa1," _essentially at junk bond level. Moody's said the continued low rating, "reflects the very weak and...

  • 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.

  • DOHA, July 2- Al Jazeera, the Qatari-funded television station whose reporting of the 2011 Arab Spring uprisings won it millions of viewers in the Middle East, is defiant following a backlash by Arab governments that accuse it of supporting Islamists.

  • *Billionaire says says not ready to invest in Egypt. CAIRO, June 30- Egyptian billionaire construction tycoon Samih Sawiris said he has no plans for new investments in his country while political oppression and legal failings continue to obstruct economic revival.

  • *Billionaire says says not ready to invest in Egypt. CAIRO, June 30- Egyptian billionaire construction tycoon Samih Sawiris said he has no plans for new investments in his country while political oppression and legal failings continue to obstruct economic revival.

  • *Oil minister sees production from BP project in 2017. AL-ASEEL OIL FIELD, Egypt, June 26- Egypt's oil minister said on Thursday that BP's $10 billion gas project, stalled for three years, had restarted and that production would begin in 2017, a sign of progress in efforts to ease the worst energy crunch in decades.

  • CAIRO, June 26- Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister said on Thursday, as the government tries to stave off a worsening power crisis. In April, Ismail said Egypt would pay about $1 billion "within two months" but the government has not yet announced that it has paid.