CAIRO, May 23 The Egyptian pound hit a two-year
high on Thursday, bucking a downtrend among emerging market
currencies with help from inflows in the tourism and energy
CAIRO As wrangling over Sudan's political future drags on, its economy risks sinking further into disarray, with pledges of assistance from the Gulf expected to provide only short-term relief, say economists.
CAIRO Egypt's government is drawing up a plan to turn over as many as 150 crumbling historic buildings to the private sector to refurbish and lease out for profit, the Minister of Public Enterprise said on Tuesday.
CAIRO The United States will consider new ways to remove Sudan from its list of state sponsors of terrorism if it sees a fundamental change in its government and a commitment not to support terrorism, a State Department official said.
CAIRO Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo's three-year, $12 billion (9 billion pounds) loan programme with the lender.
KHARTOUM Sudan has faced multiple armed conflicts, economic slumps and nationwide protests, but one of its little known exports has proved resilient through all the turmoil: gum arabic, an essential ingredient in fizzy drinks.
KHARTOUM As Samir Gasim reels off the problems facing his Khartoum confectionery and packaging factories, already running well below capacity, the power cuts and generators kick in.
KHARTOUM, Feb 7, Sixteen months after the United
States lifted most sanctions on Sudan, businesses are unable to
operate dollar transactions, insurance companies are cut off
from the reinsurance market and the local airline is virtually
grounded for lack of spare parts.
KHARTOUM Sudan must implement radical reforms or seek a bailout from friendly nations to pull its economy out of the downward spiral that helped trigger the nationwide protests now rocking the country, economists and bankers say.
SAQQARA, Egypt Egypt unveiled a well-preserved 4,400-year-old tomb decorated with hieroglyphs and statues south of Cairo on Saturday, and officials expect more discoveries when archaeologists excavate the site further in coming months. | Video