Egyptian tax change could spur banks to step up private lending

CAIRO (Reuters) - A proposed change to the way Egypt taxes bank profits could encourage lenders to boost credit to the private sector and push up yields on Treasury debt, raising its appeal among foreign investors, economic analysts say. The cabinet last week gave preliminary approval to a proposed amendment to

Family says Egypt arrested Brit for military chopper video

CAIRO: Egyptian authorities arrested a 19-year-old British tourist over a video he filmed on his cellphone that showed a military helicopter in the background, his family said on Friday. Libyan-British Muhammed Fathi AbulKasem’s arrest took place shortly after he arrived in Egypt’s coastal city of Alexandria on Nov. 21 from neighboring

Egypt’s headline inflation surges to 17.7 percent in October

CAIRO (Reuters) - Egypt's headline inflation continued to climb year-on-year in October, rising to 17.7 percent from 16 percent in September, official statistics agency CAPMAS said on Saturday. The rise in annual urban consumer price inflation was greater than expected and increases the chance that the central bank could raise interest

Sisi’s hot potato: Egyptians hit back after remarks on austerity

Egypt's President Abdel Fattah al-Sisi spoke daily at the World Youth Forum in the resort of Sharm al-Sheikh this week, touching on topics from Syria's reconstruction to religious tolerance - but it was a remark about potatoes that most stirred the pot. "Do you want to build your country and become