A petrol station in Cairo, Egypt. Reuters
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 loan programme with the lender.
Egypt spent 60.1 billion Egyptian pounds ($3.51 billion) on fuel subsidies in the first nine months of the 2018-2019 financial year, petroleum minister Tarek El Molla said. Egypt has been reducing fuel subsidies as part of an IMF-backed reform programme that began in 2016,
The International Monetary Fund on Friday approved Egypt’s request for a $5.2 billion loan as the country’s economy reels from the financial fallout of the coronavirus pandemic.
While Salah helped lead his club to a sixth European Cup triumph in June, a year on from an injury forcing him out of the final, he was powerless to stop the Pharaohs suffering humiliation on the international stage for the second time in 12 months.
Abu Dhabi International Airport has launched a new initiative for international transfer passengers, facilitating shorter connection times by increasing the speed of transiting through the airport by 27 per cent, delivering an enhanced and seamless passenger experience.
The fast-growing business opportunities in education, advanced technology and agriculture, among many others, in Sharjah’s expanding investment ecosystem were showcased recently at an interactive business webinar
The Abu Dhabi National Exhibitions Company (Adnec), part of ADQ, has acquired the International Exhibition for National Security and Resilience (ISNR Abu Dhabi). The leading conference in the Mena region that covers the security equipment sector,