Economy
Global stocks tumble as Wall Street braces for more losses
February 6, 2018
Global stocks tumble as Wall Street braces for more losses
Stock markets around the world took a battering Tuesday, following a dramatic sell-off on Wall Street that triggered concerns that…
Over LE100 bn in cash flows since flotation of the pound: CBE governor
February 6, 2018
Over LE100 bn in cash flows since flotation of the pound: CBE governor
The volume of cash flows into the Egyptian economy since the flotation of the pound in November 2016 has exceeded…
US dollar prices decline on Tuesday
February 6, 2018
US dollar prices decline on Tuesday
The US dollar exchange rate witnessed a decline in bank dealings on Tuesday, with the average dollar price landing at…
European markets plunge at opening bell as stock market dip deepens
February 6, 2018
European markets plunge at opening bell as stock market dip deepens
Global markets continue to wobble precariously. European markets took a big hit as Tuesday’s trading began, following major losses across…
Egypt govt prepares for second phase of reform program to boost ailing economy
February 6, 2018
Egypt govt prepares for second phase of reform program to boost ailing economy
Egypt Prime Minister Sherif Ismail said on Monday that he met the Governor of the Central Bank of Egypt Tariq…
Asian shares tumble after Dow has worst day since 2011
February 6, 2018
Asian shares tumble after Dow has worst day since 2011
Asian markets were rattled Tuesday by the miseries on Wall Street, with Japan’s Nikkei 225 index briefly dipping more than…
Egypt’s economic structure is at a turning point: IMF director
February 5, 2018
Egypt’s economic structure is at a turning point: IMF director
Managing Director of the International Monetary Fund (IMF) Christine Lagarde said on Sunday that Egypt is currently undergoing a turning…
Egypt to issue Eurobonds worth $4-5 billion within days – finance minister
February 5, 2018
Egypt to issue Eurobonds worth $4-5 billion within days – finance minister
Egypt is to issue dollar-denominated Eurobonds worth $4 billion to $5 billion within days, Finance Minister Amr El Garhy said…
Dubai’s Al Khaleej in $1 bln Egypt beet sugar mill deal
February 5, 2018
Dubai’s Al Khaleej in $1 bln Egypt beet sugar mill deal
* Investment valued at around $1 billion * To be largest beet sugar producer globally * To have 36,000 tonnes…
Egypt’s foreign reserves jump to $38.2 bln in January
February 4, 2018
Egypt’s foreign reserves jump to $38.2 bln in January
The Central Bank of Egypt (CBE) on Sunday said that foreign currency reserves rose by $1.2 billion to $38.209 billion…