Economy

CBE launches electronic payment initiative to curb coronavirus

CBE launches electronic payment initiative to curb coronavirus

The Central Bank of Egypt (CBE) on Saturday launched a new initiative to encourage citizens to expand using electronic payment…
CBE ramps up measures to support Egypt’s economy amid coronavirus pandemic

CBE ramps up measures to support Egypt’s economy amid coronavirus pandemic

The Central Bank of Egypt (CBE) has ordered local banks in the country not to impose additional fines applied to…
Central Bank of Egypt slashes key interest rates by 3 percent

Central Bank of Egypt slashes key interest rates by 3 percent

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) during an unscheduled meeting on Monday has chosen to slash…
Virus-hit Gulf has little room to boost revenue after oil price shock

Virus-hit Gulf has little room to boost revenue after oil price shock

DUBAI (Reuters) — The coronavirus outbreak and plunging crude prices are a double blow that leaves Gulf Arab governments with…
Coronavirus likely to increase US dollar exchange rate in Egypt: Experts

Coronavirus likely to increase US dollar exchange rate in Egypt: Experts

Experts anticipate that the worldwide spread of the novel coronavirus will increase the US dollar’s exchange rate against the Egyptian…
CBE announces measures to mitigate coronavirus impact on banking sector

CBE announces measures to mitigate coronavirus impact on banking sector

The Central Bank of Egypt (CBE) announced, on Sunday, a set of preventive measures in light of the coronavirus (COVID-19)…
Egypt set for agreement with France’s Rungis to develop wholesale markets

Egypt set for agreement with France’s Rungis to develop wholesale markets

Egypt’s Ministry of Supply and Internal Trade on Monday will sign a partnership agreement with Rungis, the largest French company…
Stocks, crude hammered as Trump’s Europe ban fans recession fears

Stocks, crude hammered as Trump’s Europe ban fans recession fears

Equities and oil prices fell through the floor again on Thursday after Donald Trump banned all travel from Europe to…
Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank

Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank

DUBAI (Reuters) — A record drop in oil prices and the coronavirus outbreak have left the Middle East and North…
US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices

US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices

The price of the US dollar against the Egyptian Pound went up in local banks during morning trading on Tuesday,…
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