Economy

Barclays sells Egyptian business to Morocco’s Attijariwafa Bank

Barclays sells Egyptian business to Morocco’s Attijariwafa Bank

Britain's Barclays has completed the sale of its Egyptian business to Morocco's Attijariwafa Bank as part of its shift towards focusing…
Oil hits highest since June on possible US inventory drop

Oil hits highest since June on possible US inventory drop

Oil rose towards $52 a barrel on Wednesday, hitting its highest since June, supported by an industry report that U.S.…
UK banks target eurosceptic ministers as ‘hard Brexit’ fears grow

UK banks target eurosceptic ministers as ‘hard Brexit’ fears grow

As Britain's banks brace for a "hard Brexit" that could sever their links with the EU market, they are changing…
IMF predicts consumer prices index at 18.2% in 2017

IMF predicts consumer prices index at 18.2% in 2017

The International Monetary Fund (IMF) has projected a rise in the Egypt's consumer price index (CPI) to 18.2 percent during…
CBE announces $3 bn rise in net foreign reserves on last month

CBE announces $3 bn rise in net foreign reserves on last month

The Central Bank of Egypt (CBE) has announced a US$3 billion increase in net foreign reserves in late September compared…
Egypt surges on hope of good news on IMF loan

Egypt surges on hope of good news on IMF loan

Egypt's stock market rose sharply in early trade on Monday on hopes that an international financing package for the country…
Egyptian pound devaluation, partial floatation expected this week

Egyptian pound devaluation, partial floatation expected this week

The Egyptian pound could be devalued this week, ahead of a national holiday commemmorating the 6th October War, according to…
Egypt to seeks bids for retinal scan system at airports

Egypt to seeks bids for retinal scan system at airports

Egypt will soon announce a tender for a new security system for Cairo Airport employees involving retinal scans, in an…
Volkswagen will pay $1.21 billion to settle U.S. dealer claims

Volkswagen will pay $1.21 billion to settle U.S. dealer claims

Volkswagen AG confirmed late Friday it will make $1.21 billion in payments to 652 U.S. brand dealers as part of…
EgyptAir resumes flights between Luxor and London after one-year halt

EgyptAir resumes flights between Luxor and London after one-year halt

Safwat Mesallam, chairman of EgyptAir Holding Company, said on Sunday that the company is resuming flights between Luxor and London…
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