Bloomberg News

Egypt Shop Curfew to Cost $4.1 Billion, Al-Ahram Reports

October 17, 2012

Egypt’s decision to order shops and cafes to close at 10 p.m. and midnight, respectively, will lead to losses of 25 billion Egyptian pounds ($4.1 billion), Al-Ahram said, citing the head of the Federation of Chambers of Commerce.

The move will also increase unemployment by 3 percent to 4 percent and affect tourism, the Cairo-based daily cited Federation chief Ahmed El-Wakeel as saying. The order was announced last week to curb electricity consumption in the nation, the paper reported.

To contact the reporter on this story: Tarek El-Tablawy in Cairo at teltablawy@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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