Business

As pound strengthens, Egypt adjusts customs exchange rate to 16 per dollar

18 Feb 2017
Egypt will change its dollar exchange rate for customs to 16 pounds from 18.5 pounds on Thursday, after the Egyptian currency strengthened significantly in recent days. Egypt's central bank floated its pound in November as part of a...
Yes

Eni, BP plan more investments in Egypt than any other country

16 Feb 2017
Eni and BP, Italian and British companies operating in the oil and natural gas excavation field, plan to invest more in Egypt than in any other country over the next five years, Bloomberg news agency reported. Eni plans to start...
Yes

US dollar hits lowest against Egyptian pound in almost a month

16 Feb 2017
The US dollar exchange rate continued to decline on Thursday to stand at LE16.45 for purchasing and LE16.5 for selling at National Bank of Egypt. At Banque Misr, the purchasing rate registered LE16.4, while the selling rate was LE16.45. At...
Yes

Some Egypt airport security details remain problematic: Russian official

Member of the Egyptian airport security check the screens of X-ray machines at the airport in the Red Sea resort of Sharm El-Sheikh on November 9, 2015
16 Feb 2017
Russia's upper house of parliament speaker said Wednesday that Cairo had enhanced most security issues to allow for safe Egypt-Russia flights, but that Moscow nonetheless considers certain details still problematic. "Cairo has...
Yes

Oil companies optimistic about Egypt, eyeing more investment, discoveries

15 Feb 2017
Major international oil companies say they plan to step up their investments in Egypt, expecting to find more oil and gas now that ENI's giant Zohr gas discovery has put its Mediterranean waters on the map. Once a net...
Yes

Sisi welcomes transforming Egypt into regional center for gas, oil commerce

14 Feb 2017
President Abdel Fattah al-Sisi inaugurated, Tuesday, the Oil and Gas International Conference and Exhibition in Egypt (EGYPS 2017) which is being held in Cairo from February 14 to 17, under the slogan "...
Yes

Egypt’s economic transition could be 'coming to a close': IMF'S Lagarde

IMF Managing Director Christine Lagarde attends a Eurogroup meeting ahead of a two-day EU leaders summit in Brussels, 1 March 2012.
14 Feb 2017
Egypt is making good progress in its economic reform program and the recent developments might be an indicator that the transition is coming to a close, International Monetary Fund Managing Director Christine Lagarde said on Monday. ...
Yes

China new bank loans surge in January to $300 bn

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration, in Beijing, China, January 21, 2016. REUTERS/Jason Lee
14 Feb 2017
Chinese bank lending surged in January, the central bank said Tuesday, as concerns grow that a flood of credit is increasing financial risks in the world's second-largest economy. New loans extended by banks rose to 2.03 trillion yuan...
Yes

US dollar continues decline at NBE

14 Feb 2017
The US dollar exchange rate continued its decline at the National Bank of Egypt by 53 piasters on Monday. It registered LE16.85 for purchasing and LE16.9 for selling, compared to LE17.38 for purchasing and LE17.43 for selling on Monday,...
Yes

Love hurts: Valentine's day spending increases by 49%, including Egypt

14 Feb 2017
They say love is blind, and this is crystal clear as shoppers' spending sky-rocketed on the most romantic day of the year, higher than any previous Valentine's Day, Mastercard data showed. The annual “Mastercard Valentine...
Yes