Egypt signs $350 million in oil, power financing deals with Saudi Arabia

CAIRO: Egypt signed $350 million worth of financing agreements with Saudi Arabia on Saturday aimed at upgrading its power grid and securing imports of petroleum products as it seeks to end its worst energy crisis in decades.

Egypt to raise fuel prices by up to 78 percent from midnight: source

(Reuters) - Egypt was set to raise mainstream fuel prices by up to 78 percent from midnight on Friday, an Oil Ministry source told Reuters, in a long-awaited step to cut energy subsidies to ease the burden on its swelling budget deficit.