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.» Read More
CAIRO, Oct 3- Egypt's prime minister said an IMF team would come to Cairo in the last week of October to resume talks on a loan sought by his government, which was still working on the major issue of how to reduce fuel subsidies.
CAIRO, Oct 3- A trickle of foreign donor aid looks like Egypt's best hope of averting a balance of payments crisis for now because many of the investors who fled the country last year are loath to return until the government seals a loan from the IMF.
CAIRO, Oct 3- Egypt's prime minister said on Wednesday that an IMF team would come to Cairo in the last week of October to resume negotiations on a loan sought by Egypt and that his government was still working on the key issue of how to reduce fuel subsidies.
CAIRO, Oct 1- A $1 billion loan that Turkey has agreed to extend to Egypt will carry an interest rate of less than 0.6 percent and be repaid in five years with a three-year grace period, the Egyptian state news agency MENA said on Monday.
CAIRO, Oct 1- A $1 billion loan that Turkey has agreed to extend to Egypt will carry an interest rate of less than 6 percent and be repaid in five years with a three-year grace period, the Egyptian state news agency MENA said on Monday.
CAIRO, Oct 1- Egypt's negotiations for a $4.8 billion loan from the IMF have been delayed to give the government more time to draw up its economic reform programme, the two sides said on Monday. Egypt was due to receive a team from the International Monetary Fund at the end of September to discuss the terms of the loan.
By Dinesh Nair and Patrick Werr DUBAI/ CAIRO, Oct 1- Dubai's Emirates NBD. and Morocco's Attijariwafabank have bid for BNP Paribas' Egyptian retail arm, four banking sources said, as regional banks look to pick up assets being shed by European lenders.
CAIRO-- The owner of a TV station on trial for incitement following his call for the killing of Egypt's Islamist president has been released after being briefly detained over allegations of theft of electrical power and bounced checks, security officials said on Monday.
CAIRO, Oct 1- The IMF has delayed sending a team to Cairo to negotiate a $4.8 billion loan while the Egyptian government works to complete its economic reform programme, a newspaper quoted the country's Finance Minister as saying. Egypt was due to receive a team from the International Monetary Fund at the end of September to discuss the terms of the loan.
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As protestors prepare to rally in Tahrir Square once again on Tuesday, the renewed anxiety about Egypt’s fragile political process serves a potent reminder that despite the election of a new President, the country’s power structure has yet to be fully defined.
Trade on Egypt’s stock market was suspended as stocks were surging on Monday but even so the market closed 7.6 percent higher, the first reaction to the announcement of Mohamed Mursi as Egypt’s new President. The surge places the index among the world’s best performers once again.
Alia Moubayed, head of research for the Middle East at Barclays, told CNBC, "If there is one word that describes Egypt at this moment it is that you are in a situation of perfect political uncertainty and the only thing that is certain is the fact that the economy is taking a toll."
CNBC's Bertha Coombs reports no deal was made between Chairman Darrell Issa and Attorney General Eric Holder on the ATF documents, and also reports on conflicting news that former Egyptian president Hosni Mubarak is "near death" in a Cairo hospital.
Egypt's Muslim Brotherhood warned that a court ruling to dissolve the Islamist-led parliament and let Hosni Mubarak's former prime minister run for president is a move toward reversing the gains of the revolution.
They toppled a pharaoh, but now the small circle of liberals, leftists and Islamists who orchestrated Egypt’s revolution say they realize they failed to uproot the networks of power that Hosni Mubarak nurtured for nearly three decades, the New York Times reports.
The Islamist candidate of the Muslim Brotherhood will face former President Hosni Mubarak’s last prime minister in a runoff to become Egypt’s first freely elected president, several independent vote counts concluded Friday morning, the NYT reports.
Egyptians head to the polls on Wednesday and Thursday next week to elect a president to replace Hosni Mubarak. It will be the first fair leadership election in the country, nearly a year and a half after the revolution which saw Mubarak ousted amid months of violent protests. Lawrence Saez, a politics professor at London's School of Oriental and African Studies, gave CNBC a preview.
Ratings agency Standard and Poor’s (S&P) on Tuesday pointed to increased risks for issuers in the Middle East as the spiraling tensions between Iran and the West showed no sign of slowing down. Although the agency believed that the risks were already accounted for in its current ratings, it cautioned that a reassessment depended on how the situation developed.