Economy
Egyptian parliament approves law allowing closure of failing publicly-owned companies
May 13, 2020
Egyptian parliament approves law allowing closure of failing publicly-owned companies
The Economic Committee of Egypt’s House of Representatives on Tuesday approved a bill amending Public Enterprise Sector Law No. 203/1991.…
Saudi Aramco debt to climb as world’s largest dividend weighs
May 13, 2020
Saudi Aramco debt to climb as world’s largest dividend weighs
LONDON (Reuters) — Saudi Aramco’s debt is expected breach target levels as an oil price collapse triggered by the coronavirus…
IMF approves US$2.77 billion support to Egypt to address coronavirus
May 12, 2020
IMF approves US$2.77 billion support to Egypt to address coronavirus
The executive board of the International Monetary Fund (IMF) has approved Egypt’s request for emergency financial assistance of US$2.772 billion…
Egypt’s Ministry of Finance to issue LE3 bn payment to tourist establishments
May 11, 2020
Egypt’s Ministry of Finance to issue LE3 bn payment to tourist establishments
Egypt’s Ministry of Finance on Monday launched an initiative guaranteeing the payment of LE three billion to Egypt’s national banks…
Egypt’s headline inflation rises to 5.9% in April, CAPMAS
May 11, 2020
Egypt’s headline inflation rises to 5.9% in April, CAPMAS
Egypt’s annual urban consumer price inflation rate increased to 5.9 percent in April from 5.1 percent in March, the official…
IMF discusses Egypt’s request for loan to counter coronavirus
May 11, 2020
IMF discusses Egypt’s request for loan to counter coronavirus
The International Monetary Fund (IMF) on Monday began discussing Egypt’s request for a new loan to counter the spread of…
Egypt’s Hotel Association selects 3 companies to perform hotel inspections
May 10, 2020
Egypt’s Hotel Association selects 3 companies to perform hotel inspections
Hotels in Egypt wishing to operate again must undergo inspections conducted by one of three international companies chosen by the…
Egypt’s foreign currency reserves are still ‘safe’: CBE
May 10, 2020
Egypt’s foreign currency reserves are still ‘safe’: CBE
The Deputy Governor of the Central Bank of Egypt (CBE) Ramy Aboul-Naga, announced that the nation’s foreign currency reserves are…
Gold prices in Egypt fall by LE7, 21-karat gold now worth LE743
May 9, 2020
Gold prices in Egypt fall by LE7, 21-karat gold now worth LE743
Gold prices in the Egyptian market decreased by about seven LE on Saturday compared to Friday’s prices. The price of…
Egypt begins preparing to reopen businesses post-coronavirus
May 9, 2020
Egypt begins preparing to reopen businesses post-coronavirus
The Egyptian government has begun preparations to ease restrictions on businesses once the coronavirus outbreak fades. The Minister of Planning…