CAIRO, Nov 19 (Reuters) – Egypt aims to secure agreement on
a $4.8 billion loan from the International Monetary Fund in a
few days to help shore up its battered finances, the prime
minister said on Monday.
The IMF team in Cairo said earlier on Monday it was
extending its stay for a few days and that it was having
“constructive consultations” with the government on a deal seen
as vital to restoring investor confidence in the economy.
CAIRO (Reuters) – Egypt’s prime minister said on Monday that an agreement brokered by Cairo to stop the fighting between Israel and the Palestinians in Gaza could be close.
“Negotiations are going on as we speak and I hope we will reach something soon that will stop this violence and counter violence,” Prime Minister Hisham Kandil said in an interview in Cairo for the Reuters Middle East Investment Summit.
CAIRO (Reuters) – Fifty people, mostly children, were killed when a train slammed into a school bus as it crossed tracks in a city south of Cairo on Saturday, state media and officials said.
All but two of the dead were children, aged around four to eight, said a senior security official in Assiut, near the site. One woman and the bus driver also died, he added.
CAIRO, Nov 15 (Reuters) – Egyptian tycoon Naguib Sawiris,
now seeking to buy a big stake in Telecom Italia, has won
admirers for his risk appetite and straight talk, but his blunt
approach has also often put him in hot water with business
partners and Islamists in Egypt.
The Christian billionaire, 58, made his name building a
telecoms empire in places many feared to tread, such as Algeria,
North Korea and war-torn Iraq.
CAIRO, Nov 12 (Reuters) – Telecom Egypt is in
advanced talks with the government on a deal allowing it to
offer mobile services in addition to its traditional mainstay
fixed-line business, where revenue is under pressure.
Telecom Egypt, which is 80 percent owned by the state, has
been relying on its data business to boost revenue. It also has
a 45 percent stake in Vodafone Egypt, which in the third quarter
accounted for a third of net profit.
LONDON/CAIRO, Nov 8 (Reuters) – Centamin said it
hoped to resolve a court case hanging over its Sukari gold mine
in Egypt during 2013, offering hope to shareholders worried
about the future of the gold miner’s only producing operation.
An Egyptian administrative court ruled at the end of October
that Centamin’s right to operate Sukari was invalid, slicing one
third off the company’s share price in a day.
The new Coptic Orthodox pope said on Monday that a constitution being drafted by Egypt’s politicians must be inclusive and the church would oppose any text that only addressed one part of the Muslim-majority nation.
WADI EL-NATRUN, Egypt (Reuters) – The new Coptic Orthodox pope said on Monday that a constitution being drafted by Egypt’s politicians must be inclusive and the church would oppose any text that only addressed one part of the Muslim-majority nation.
Pope Tawadros II, picked on Sunday in a ceremony steeped in the traditions of a church that predates Islam’s arrival in Egypt, also told Reuters that Christians should be more active in seeking to shape Egypt’s politics after last year’s revolt.
CAIRO, Oct 31 (Reuters) – London-listed goldminer Centamin
will appeal against an Egyptian court ruling that has
declared invalid its rights to operate the Sukari mine, its main
asset, a senior executive said on Wednesday.
Centamin said after Tuesday’s ruling that operations were
continuing at Sukari, its only production asset, and the
administrative court which issued the decision did not have
jurisdiction over its mining rights. But shares in the firm fell
35 percent to 64 pence before trading was suspended.
CAIRO, Oct 24 (Reuters) – The mood of Egypt’s financial
markets is likely to depend heavily next week on the
government’s progress in securing a $4.8 billion loan from the
International Monetary Fund.
An IMF team is expected to come to Cairo for talks after the
Eid al-Adha holidays, which run from this Thursday through
Sunday, according to Egyptian and IMF officials.