Economy
Egypt to deduct 1% of state servants incomes over a year to fight coronavirus
May 20, 2020
Egypt to deduct 1% of state servants incomes over a year to fight coronavirus
The Egyptian Cabinet approved on Wednesday a draft law to provide a monthly deduction starting July 1 for over a…
Egypt’s GDP to grow 3.5% in 2020-2021 fiscal year if coronavirus ends: Planning Minister
May 20, 2020
Egypt’s GDP to grow 3.5% in 2020-2021 fiscal year if coronavirus ends: Planning Minister
Egypt’s GDP is anticipated to grow by 3.5 percent in fiscal year 2020-2021 if the coronavirus crisis ends, Minister of…
World Bank approves US$50 million support for Egypt to fight coronavirus
May 17, 2020
World Bank approves US$50 million support for Egypt to fight coronavirus
The World Bank has approved US$50 million to support Egypt’s fight against the coronavirus, with the bank explaining in a…
Egypt’s Gold prices up by LE5 per gram, 21 carats at LE 760
May 16, 2020
Egypt’s Gold prices up by LE5 per gram, 21 carats at LE 760
The price of gold has risen in the Egyptian market on Saturday by about five LE compared to Friday’s prices.…
Germany in recession as economy shrinks 2.2% in 1st quarter
May 15, 2020
Germany in recession as economy shrinks 2.2% in 1st quarter
BERLIN (AP) — The German economy shrank by 2.2 percent in the first quarter compared with the previous three-month period…
European countries offer more economic relief from pandemic
May 14, 2020
European countries offer more economic relief from pandemic
ROME (AP) — European governments promised more relief to their citizens on Thursday as a top US immunologist prepared to…
Turkey crunch would pack only weak punch for emerging markets
May 13, 2020
Turkey crunch would pack only weak punch for emerging markets
LONDON (Reuters) — Turkey could be heading for another financial crunch but its diminished importance for investors in developing economies…
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…