Economy news

Egypt eager to add new zones to QIZ

Trade and Industry Minister Mounir Fakhry Abdel Nour 
30 Mar 2015
Egyptian Industry and Trade Minister Mounir Fakhry Abdel Nour has said that his country is eager to add more geographical areas to the Qualifiying Industrial Zone (QIZ) agreement, stressing that Egypt wants to tap into the advantages...
Yes

Egypt adds name to join China-backed AIIB investment bank

30 Mar 2015
Egypt will apply to become of member of the Beijing-led Asian Infrastructure Investment Bank (AIIB), China's Ministry of FINANCE said in a statement on its website Monday. The ministry said China welcomes the application and...
Yes

Egypt's CIB Bank to issue dividend of 1.2 pounds per share

CIB
30 Mar 2015
Egypt's largest bank, Commercial International Bank (CIB), will distribute on April 2 a dividend of 1.2 Egyptian pounds ($0.16) a share on its 2014 earnings, the company said in a statement on Monday. The bank last month reported net...
Yes

Egyptian pound steady on official, weaker on black market





Reuters/Reuters - An employee counts money at a bank in Cairo September 4, 2014. REUTERS/Asmaa Waguih






 


 
30 Mar 2015
Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the domestic currency weakened on the black market. The central bank has kept the official exchange rate steady for...
Yes

Egypt's market gains LE3 billion on Monday, EGX30 rises 0.62 %

cairo stock 
30 Mar 2015
Egypt's market main index EGX30 rose 0.62 percent on Monday's session to record 9,118.97 points with turnover of LE440 million, the Egyptian Exchange data showed. Meanwhile, the broader EGX70 index and the EGX100 index rose by 2.05...
Yes

Expert: Cash transactions cost state 1.5 percent of GNP

30 Mar 2015
Cash transactions cost the state about 1.5 percent of GNP, including the cost of printing money and securing the transfer of funds, said Ashraf Moussa Sabry, the CEO of a large electronic payment services company.   Limiting the...
Yes

CBE bans exchange of US$100 bills to counter smuggling

30 Mar 2015
The Central Bank of Egypt (CBE) has decided to ban the exchange of US$100 bills for banking clients and has called on bans to collect the bills from the black market in order to keep them from being smuggled abroad, according to an...
Yes

Egyptian pound steady on official, stronger on black market

Central Bank Governor Hesham Ramez
29 Mar 2015
 Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Sunday, and the domestic currency strengthened on the black market. The central bank has kept the official exchange rate...
Yes

Egypt's market gains LE2.3 billion on Sunday, EGX30 inches up 0.12 %

cairo stock 
29 Mar 2015
Egypt's market main index EGX30 inched up by 0.12 percent on Sunday's session to record 9,062.99 points on a weak turnover of LE219 million, the Egyptian Exchange data showed. Meanwhile, the broader EGX70 index and the EGX100 index...
Yes

Investors demand Egyptian Exchange chairman’s removal

Mohamed Omran, Chairman of the Egyptian Stock Exchange
29 Mar 2015
A number of investors in the Egyptian stock market protested Sunday outside the Egyptian Exchange building in Downtown Cairo, amid tight security, demanding the removal of its chairman, Mohamed Omran.   The protesters accused Omran of...
Yes