Mohamed Mursi confirms there will be no new taxes and will look to investment to fix the country’s economy.
The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.
The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.
Two of Cairo’s most highly-ranked generals have been told to step down from their positions, on orders of the president.
The Gulf state is aiming to provide a much needed boost to support Egypt’s declining economy.
A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.
The country has called for a closer relationship with Egypt as it begins a new era under President Mursi.
A momentous day marks the dawn of a new era for Egyptian politics as Mursi is handed power.
Egypt’s newly-elected President receives support from US equivalent as does his rival Shafik.
Former Egyptian president’s health has deteriorated and is on life support as his aides deny he was ‘clinically dead’.
Voters go to the polls for the second day as the country decides its first new president since Mubarak.
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