Mohamed Ahmed el-Saadani

Companies increase rates of insurance against car theft
Egypt

Companies increase rates of insurance against car theft

“We are awaiting the approval of the Financial Supervisory Authority to raise the costs of insurance policies against car theft,”…
Manpower minister calls for price control law
Business

Manpower minister calls for price control law

Minister of Manpower Ahmed Hassan al-Borai, at a symposium on Tuesday, called for a unified law regulating wages and prices…
Cigarette smuggling costs government LE160 million
Business

Cigarette smuggling costs government LE160 million

A recent study showed that the Egyptian government lost about LE160 million during the first half of this year due…
Dollar stable against Egyptian pound, exchange officials say
Egypt

Dollar stable against Egyptian pound, exchange officials say

US dollar prices remained stable against the Egyptian pound over the past few days despite preparation by foodstuff importers for…
Economists praise increases in commodity subsidies
Business

Economists praise increases in commodity subsidies

Economic experts have praised the prime minister’s decision to increase subsidies of strategic commodities from LE90 billion to LE115 billion…
Poor outlook for Egyptian banks could affect foreign lending
Business

Poor outlook for Egyptian banks could affect foreign lending

Egypt could face difficulties in obtaining foreign loans, warned banking experts, after Moody's revised its outlook on Egypt's banking system…
Central Bank of Egypt to let the pound drop gradually
Business

Central Bank of Egypt to let the pound drop gradually

The Central Bank of Egypt (CBE) announced on Wednesday it would allow the value of the Egyptian pound (EGP) to…
General Motors Egypt to invest $175 million as economy takes stock
Business

General Motors Egypt to invest $175 million as economy takes stock

General Motors Egypt announced that it plans to inject the Egyptian market with new investments worth US$175 million.
CBE tells banks to remain watchful of frozen assets
Business

CBE tells banks to remain watchful of frozen assets

Bank directors have been ordered to monitor assets frozen in the wake of the popular uprising in Egypt. The order…
Banks to open as usual on Thursday; Egypt pound stable against US dollar
Business

Banks to open as usual on Thursday; Egypt pound stable against US dollar

Banks will open as usual on Thursday from 8:30 AM until 2:00 PM, with some branches remaining open until 5:00…
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