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
Tag: Egypt
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 targets narrower budget deficit of 7 percent in 2019/20 – ministry document
Egypt is targeting a budget deficit of 7 percent of GDP for the 2019-20 fiscal year that begins in July, compared with 8.4 percent in the previous year, according to a preliminary finance ministry budget draft. The budget deficit is expected to reach 427.8 billion Egyptian pounds ($23.84 billion) in 2019-20. The
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
