Economy
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…
US dollar – Egyptian pound exchange rate remains stable on Tuesday
April 28, 2020
US dollar – Egyptian pound exchange rate remains stable on Tuesday
Exchange rates between the US dollar and the Egyptian pound remained stable in several banks on Tuesday, following a decline…
Egypt requests fresh financial package from the IMF to counter coronavirus
April 26, 2020
Egypt requests fresh financial package from the IMF to counter coronavirus
The Egyptian government and the Central Bank of Egypt have requested a new financial package from the International Monetary Fund…
Egypt eager to provide more incentives to support industries
April 25, 2020
Egypt eager to provide more incentives to support industries
Egyptian Prime Minister Mostafa Madbouly announced on Friday that the government aims to provide more facilities and incentives to help…
EU leaders weigh massive virus economic recovery measures
April 23, 2020
EU leaders weigh massive virus economic recovery measures
BRUSSELS (AP) — European Union leaders are set to weigh Thursday the damage the coronavirus has inflicted on health care…
Egypt’s Central Bank to ease cash withdrawal limits during Ramadan
April 22, 2020
Egypt’s Central Bank to ease cash withdrawal limits during Ramadan
Chairman of the Federation of Egyptian Banks (FEB) and President of Banque Misr Mohamed al-Etriby said on Wednesday that the…
US dollar jumps vs Saudi riyal in forwards market as oil slumps
April 22, 2020
US dollar jumps vs Saudi riyal in forwards market as oil slumps
LONDON/DUBAI (Reuters) — The US dollar rose against the Saudi riyal in the forwards market on Wednesday after oil prices…
Egypt lowers growth target for next fiscal year to 3.5 percent due to coronavirus
April 21, 2020
Egypt lowers growth target for next fiscal year to 3.5 percent due to coronavirus
Egypt has lowered its growth target for fiscal year 2020-2021 to 3.5 percent, down from its original target of 5.8…
Moody’s expects Egypt’s economy to grow by 4.4 percent by end of current fiscal year
April 21, 2020
Moody’s expects Egypt’s economy to grow by 4.4 percent by end of current fiscal year
The Moody’s corporation anticipates the Egyptian economy to grow 4.4 percent by the end of the current fiscal year 2019/2020…
US dollar exchange rate stabilizes in Egyptian banks
April 20, 2020
US dollar exchange rate stabilizes in Egyptian banks
The exchange rate of the US dollar against the Egyptian pound stabilized on Monday in Egyptian banks, compared with Sunday’s…