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Hosni Mubarak

  • ISMAILIA, Egypt— Bulldozers push earth and dredgers spit mud round the clock at Egypt's Suez Canal in a race to quickly expand the strategic waterway for two-way traffic, a project trumpeted by President Abdel-Fattah el-Sissi to revive both the country's damaged economy and visions of nationalist glory. Although more vessels will be drawn to the canal...

  • ISMAILIA, Egypt, Feb 26- Egypt's military could help build an industrial hub around a new Suez Canal, the project's manager said, the first suggestion that the armed forces may play an important role in the huge investment venture planned alongside the new waterway. The army began in August digging the new $8 billion canal that President Abdel Fattah al-Sisi, the...

  • Egypt's decision to buy 24 of the Dassault Aviation fighters follows failures by successive French governments to sell the plane and leapfrogs three years of inconclusive talks for a 126- plane contract with India. Sisi has been looking to upgrade Egypt's military hardware over fears Islamist militias in neighboring Libya could take control and directly...

  • BRUSSELS, Feb 12- French President Francois Hollande said Egypt would order 24 Rafale fighter jets, a naval frigate and related military equipment in a deal to be signed in Cairo on Monday worth more than 5 billion euros. The contract would make Egypt, aiming to upgrade its military hardware amid fears the crisis in neighbouring Libya could spill over, the first...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. Egypt's current government has since embarked on a series of reforms, and asked the IMF to assess its financial and economic condition in the...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed...

  • *Cairo fears spillover from Libya conflict. PARIS, Feb 10- France is close to selling Dassault Aviation- built Rafale fighter jets to Egypt, sources close to the matter said on Tuesday, as Cairo looks to upgrade its military hardware over fears the crisis in neighbouring Libya could spill over. France and Egypt have been negotiating since a November state visit by...

  • *Tahrir Square site of largest protests in 2011 uprising. CAIRO, Feb 8- A circular patch of land in Cairo's central Tahrir Square poses a dilemma for the government: how to honour the epicentre of the 2011 popular uprising while pressing ahead with one of the fiercest crackdowns on dissent in Egypt's history? This is good, " Cairo Governor Galal Mostafa Saeed told...

  • HUSAYNAT, Egypt, Feb 4- At a remote spot in the Sinai desert last month, a commander of Egypt's most feared Islamist group outlined his hopes of toppling the country's government. "We will create an Islamic state in Egypt," he said. The militant said he was from the Ansar Bayt al-Maqdis group, which has killed hundreds of security forces since the military ousted...

  • DAVOS, Switzerland, Jan 23- Egypt can expect economic growth "easily north of 4 percent" in fiscal year 2014-15, which ends in June, boosted by rising confidence and a windfall from lower oil prices, its finance minister said on Friday. Egypt suffered a severe economic crisis after the 2011 uprising that toppled veteran autocrat Hosni Mubarak, ushering in a period...

  • POLL-Egypt's economy seen growing 3.5 pct in 2014/15 Thursday, 22 Jan 2015 | 7:19 AM ET

    The forecast is in line with the government's target for the 2014/ 15 fiscal year that began in July and would represent a modest rebound for Egypt, which has struggled to restore growth during four years of political turmoil. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president...

  • CAIRO, Jan 12- The successful roll-out so far of a new "smart card" system to distribute subsidised bread has been a major achievement for Egypt's government, saving money while earning praise from families who no longer have to wake early to fight for loaves. President Abdel Fattah al-Sisi appears to be succeeding where predecessors Hosni Mubarak and Mohamed...

  • CAIRO, Jan 6- Business activity in Egypt expanded at its fastest rate in three months in December, a survey showed on Tuesday, with rising output and export demand bolstering a fragile economic recovery. "Egypt is yet to regain momentum but a fifth consecutive score above 50.0 reinforces our view that the economy continues to stabilize," Simon Williams, chief...

  • BG Group receives $350 mln payment from Egypt Friday, 2 Jan 2015 | 2:14 AM ET

    LONDON, Jan 2- Britain's BG Group said on Friday it had received a $350 million payment from the Egyptian government following the country's decision to repay outstanding debts to the energy industry. Egypt has delayed payments to oil and gas firms as its economy has been hammered by almost four years of instability since a popular uprising ousted autocrat...

  • *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...