Economy

Low-cost flights on the horizon

Low-cost flights on the horizon

Get ready to squeeze on board for low-cost flights between the US and Asia.
Egypt asks for US$400 million loan from World Bank

Egypt asks for US$400 million loan from World Bank

The Egyptian government asked for US$400 million loan from the World Bank to finance labor-intensive projects with 50 percent of…
Dollar steadies after stumble, Brexit ruling saps sterling

Dollar steadies after stumble, Brexit ruling saps sterling

The US dollar and world stocks tip-toed higher on Tuesday, as signs of a revival of worldwide economic activity helped…
Egypt plans currency swap with Russia

Egypt plans currency swap with Russia

The Egyptian government is considering signing a currency swap agreement with Russia, following in the footsteps of its agreement with…
Hermes projects US dollar at LE15 by the end of 2017

Hermes projects US dollar at LE15 by the end of 2017

EFG Hermes investment bank is expecting improvement in the Egyptian pound exchange rate by the end of the current year…
Growth rate of Egypt’s exports reaches 7.4% in 2016

Growth rate of Egypt’s exports reaches 7.4% in 2016

Egypt’s non-petroleum exports increased by 7.41 percent in 2016, compared to the rate of exports achieved in 2015, reaching US$19.118…
Mining company Centamin won’t bid in Egypt gold tender, terms not viable

Mining company Centamin won’t bid in Egypt gold tender, terms not viable

Centamin Plc, which runs Egypt's only commercial gold mine, said it would not bid in the country's new gold exploration…
Egypt capable of manufacturing weapons locally: minister

Egypt capable of manufacturing weapons locally: minister

The Military Production Ministry seeks to fulfill the armed forces' needs for some projects, due to the ongoing threats in…
British banks’ optimism hits crisis-era low on Brexit uncertainty

British banks’ optimism hits crisis-era low on Brexit uncertainty

Optimism about the business environment for Britain's financial services firms fell for a fourth consecutive quarter, according to a survey…
Growth rate improves by 3.4%: planning minister

Growth rate improves by 3.4%: planning minister

The growth rate during the first quarter of fiscal year 2016/17 has seen a 3.4 percent improvement, said Planning Minister A
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