Egypt’s path to expand social protection, confronting inflation

Thu, 30 May 2024 - 04:21 GMT

Moreover, Egypt increased the minimum wage from LE 1,200 in March 2019 to LE 4,000 in September 2023, resulting in a surge of over 230 percent during that period.

Egypt’s Parliament approves rises in wage, incentives

Sun, 19 Mar 2023 - 05:26 GMT

President Sisi instructed raising the salaries of public employees with the monthly minimum of the raise being LE1,000. Further, the minimum wage for public employees will be LE3,500, while that of master’s and PhD holders at public institutions will be LE6,000 and LE7,000, respectively.

LE 8B allocated to raise public sector wages in Q4 of 2021-22 FY

Tue, 19 Apr 2022 - 03:17 GMT

It also came to deal with the repercussions of global economic challenges and to mitigate their effects on citizens, he further said.

Sisi directs to raise minimum wage to 2,700, approves 2 periodic bonuses at cost of LE8B

Wed, 19 Jan 2022 - 02:54 GMT

Sisi also approved two bonuses at a cost of about LE 8 billion; the first is a periodic bonus for employees who are addressed by the civil service law at 7% of the job wage, and the second is a special bonus for workers not addressed by the civil service law at 13% of the basic salary.

Egypt's central bank amends initiative to finance payment of wages for workers in tourism sector

Wed, 19 May 2021 - 03:00 GMT

CBE stated in its periodic book on Wednesday, that it decided to extend the period of validity of the initiative until the end of December 2021 (instead of June 2021), or to exhaust the amount allocated to it by LE 3 billion, whichever comes first.

16M Egyptian families benefit from ‘unprecedented’ wages, pensions raise ordered by Sisi: Ayman Al-Gamil

Wed, 17 Mar 2021 - 10:20 GMT

Renowned businessman Ayman Al-Gamil said President Abdel Fattah El-Sisi’s recent decision to raise salaries and pensions represents an unprecedented leap and benefits around 16 million families.

Egypt increases wages, pensions by LE 100B in 20/21: Prime Minister

Thu, 07 May 2020 - 02:36 GMT

Madbouli added that the state was keen to alleviate the burden off the Egyptian citizen during the coronavirus crisis.

Business News Wrap-up

Wed, 28 Mar 2018 - 05:00 GMT

A wrap-up of the most prominent business news of the day.

Asia shares rally as U.S. job data revive risk appetite

Mon, 12 Mar 2018 - 07:24 GMT

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.3 percent, poised for a third session of gains.

Over half of Japan firms do not plan base pay rise this year

Tue, 20 Feb 2018 - 07:30 GMT

More than half of Japan’s companies do not plan to raise base pay in annual wage talks in coming months.

A decade after recession, a jump in U.S. states with wage gains

Mon, 05 Feb 2018 - 07:38 GMT

Average pay rose by more than 3 percent in at least half of U.S. states last year, up sharply from previous years.

Overall, primary budget deficits drop in Q1 of FY 2017/18

Wed, 22 Nov 2017 - 05:05 GMT

The budget’s overall deficit dropped to 1.9 percent of GDP in the first quarter of fiscal year 2017/2018, compared to 2.5 percent last year.

S&P 500 breaks record run on jobs data, drug chain drop

Sat, 07 Oct 2017 - 11:10 GMT

The S&P 500 eased on Friday, ending a six-day run of record highs as the first monthly decline in U.S. nonfarm jobs in 7 years dampened sentiment.

Sisi nods ‘trillionistic’ state budget

Thu, 03 Aug 2017 - 10:59 GMT

The budget expenditure was LE 1.207 trillion, while the revenues were set at LE 852.34 billion.