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IMF warns US of unsustainable debt, urges VAT tax

Fund says US government needs to enact fresh income measures, including VAT and carbon tax, to contain long term fiscal imbalance

Abu Qatada case cost UK over £1.7 mn

Deportation of Islamist who is allegedly Al-Qaeda's senior man in Europe cost UK taxpayer over £1.7 mn, says UK Home Secretary

Swiss panel recommends exchange of bank data with EU

Switzerland under massive pressure from EU and elsewhere to crack down on banking secrecy as cash-strapped states seek to stop tax evasion and close loopholes

Congress panel widens probe of U.S. IRS 'Tea Party' scrutiny

Congressional investigators probing US Internal Revenue Service over alleged harsh screening of conservative groups applying for tax-exempt status to interview key Washington IRS official on Friday

The most expensive divorces ever

Following the announcement that Rupert Murdoch will divorce his third wife, Wendi Deng, we look at the most expensive divorce payouts in history

EU tries to persuade France to back U.S. free trade talks

Hollywood-shunning France refuses to participate in major trade agreement between US and 26 EU governments unless movies and digital media are left out

European shares snap four-session losing streak

European stocks advanced ends four-day losing streak on Friday as positive US economic data calms investor concerns on American economy's fate after Fed scales back stimulus

South Africa to 'surrender' Ghaddafi loot

In line with UN rules, South Africa pledges to repatriate Libyan looted funds, including diamonds and gold worth more than $1 billion

5 million tourists bring in $4 bn during 2013: Egypt tourism minister

Tourist numbers expected to reach 13 million by year's end, though planned 30 June protests threaten to drag industry 'back to square one', according to tourism minister

Egypt tourism minister to visit Saudi after decision to cut pilgrim numbers

Egypt sees 5.2% annual tourists rise in April: CAPMAS

Egypt's tourism the 'dark horse' of the upcoming phase: minister

Egypt tourism still struggling despite upswing: Industry insiders

Egypt cancels bank loan loss provisions tax one month after imposing it

Egypt's government cancels tax imposed recently on banks, after officials of the sector including governor of the central bank contested the move

Egypt to auction luxury gifts received by officials

Following direction that government officials cannot accept gifts valued above USD100, Ministry of Finance organizes first ever public auction of gifts

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Egyptian stock exchange ends the week on a positive note

Egyptian benchmark EGX30 index gained 1.17 percent on Thursday after reaching a year low earlier in the week

EgyptAir pilots suspend strike

Pilots suspend strike after talks with civil aviation minister, vow to escalate if demands are not met by Wednesday

There is no shortage in fuel supplies; distribution is the problem: Egypt's petroleum minister

Petroleum Minister Sherif Haddara says that additional quantities of gasoline and diesel fuel have been pumped to eliminate congestion at the fuel stations — denies shortages

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