Economy
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…
Egyptian government spends LE40 bn in two and a half months
May 8, 2020
Egyptian government spends LE40 bn in two and a half months
Egyptian Finance Minister Mohamed Maait announced on Thursday that the government has succeeded in dealing with the novel coronavirus by…
Egypt expects decrease in budget surplus, increase in total deficit
May 5, 2020
Egypt expects decrease in budget surplus, increase in total deficit
Egyptian Finance Minister Mohamed Maait on Tuesday reviewed the expected effects of the coronavirus crisis on the state’s draft budget…
European economy suffers record drop amid pandemic
April 30, 2020
European economy suffers record drop amid pandemic
FRANKFURT, Germany (AP) — The European economy shrank by a record 3.8 percent in the first quarter as business activity…