S&P downgrades Egypt's credit rating
The credit rating of Egypt's local currency debt was downgraded, the outlook for the foreign currency is appraised as negative. Sherine Abdel-Razek reports on the reasons and repercussions of those moves

Hard choices
Some pharmaceutical companies are at odds with the government over its drug pricing policy. Wael Gamal reports

A better half
The economy was stagnant during the first-half of 2003, but the second half of the year promises improved performance, according to a recent barometer of corporate activity. Mona El-Fiqi reviews the report

Modest modernisation
The current government plans for Egyptian industry are much more about renovation than modernisation, writes Salah El-Amrousi

IFIs in the region
The United Arab Emirates is hosting the World Bank and International Monetary Fund (IMF) annual meetings next month. Mohamed Darwish reports on the preparations from Dubai

Backing civil society
Last week, Fayza Abul-Naga, minister of state for foreign affairs and international cooperation and Michel De Salaberry, the Canadian ambassador to Cairo, signed an agreement that provides Egypt with $10.5 million as a grant to support civil society participation in economic and social development...