19 Mar 2015
Egypt's central bank kept the pound steady at LE7.53 to the dollar at a foreign exchange auction on Thursday, while the domestic currency strengthened on the black market.
The central bank has now kept the official exchange rate steady...
12 Mar 2015
Egypt's currency market reforms are inflicting a heavy toll on many private sector wheat traders struggling to secure shipments for the world's largest wheat importer.
Last month, the central bank devalued the Egyptian pound and...
25 Feb 2015
Global Telecom, the Egypt-based group formerly called Orascom Telecom, reported a 2014 loss of LE3.2 billion ($419.40 million), the company said in a statement on Wednesday.
Global Telecom, which is 51.9 percent owned by Russia's...
15 Feb 2015
The two-day visit of the Russian president Vladimir Putin to Egypt resulted in many pivotal outcomes, including dropping the use of the American dollar in bilateral trade between Egypt and Russia to be exchanged by the countries'...
08 Jan 2015
Egypt plans to issue a $950 million 1-year Treasury bill next week, the central bank said on Thursday.
It said the auction deadline was Jan. 12 and the issue was open both to local banks and international financial institutions.
06 Jan 2015
Growers of Egypt's high quality cotton will no longer receive any state support and have been advised not to plant the crop unless they have contracts to sell it, a move some traders say is a final blow to the long-neglected industry....
27 Nov 2014
EFG Hermes, one of the Middle East's largest investment banks, confirmed early signs for the recovery of the Egyptian economy in a report issued on 20 November entitled "Early signs of recovery confirmed: More hurdles need to be...
25 Nov 2014
EFG-Hermes expects a new era of depressed oil prices and a stuctural shift in global supply and demand balances, according to a report it released on Tuesday.
The new shift would assist central government budgets from countries like...
19 Nov 2014
The Egyptian pound was flat at a central bank dollar sale on Wednesday but was volatile on the black market as a surge in commercial demand for dollars added to concerns over Egypt's plans to repay a US$2.5 billion Qatari deposit,...
05 Nov 2014
Several of Egypt's major cement producers have begun retrofitting their plants to run on energy from imported coal, beating high gas prices and energy shortages that have curbed industrial output this year.
Egypt has been suffering...