Economy
Egypt launches investment scheme to lure expat dollars
February 29, 2016
Egypt launches investment scheme to lure expat dollars
Egypt launched a new scheme on Monday to encourage millions of Egyptians living abroad to pour their dollar savings into…
Eni to invest US$2 bn in Egypt in 2017: official
February 28, 2016
Eni to invest US$2 bn in Egypt in 2017: official
The Italian multinational oil and gas company Eni will add US$2 billion to Egypt's investments in the first quarter of 2017 through its Zohr natural gas…
After G20 stalemate, focus turns to signs of growth momentum
February 28, 2016
After G20 stalemate, focus turns to signs of growth momentum
Investors worried about the risk of a new global recession are hoping that data over the coming week will show…
Egyptian T-bill yields rise, signals possible interest rate hike
February 28, 2016
Egyptian T-bill yields rise, signals possible interest rate hike
Yields on Egypt's three-month and nine-month treasury bills rose sharply at Sunday's auction, data from the central bank showed, signalling…
Egyptian pound steady at forex sale, stronger on black market
February 28, 2016
Egyptian pound steady at forex sale, stronger on black market
The Egyptian pound held steady against the dollar at an official foreign currency auction on Sunday but was stronger on…
Egypt racing time to bridge budget gap with Islamic bonds: Finance Ministry
February 28, 2016
Egypt racing time to bridge budget gap with Islamic bonds: Finance Ministry
The Ministry of Finance is working on amendments to laws regulating the issuance of Islamic bonds (sukuk) as a means…
Saudi to increase oil supplies to Egypt in new five-year deal
February 28, 2016
Saudi to increase oil supplies to Egypt in new five-year deal
Saudi Arabia is to meet Egypt's oil needs for a five-year period, increasing the quantity of imported oil from 500,000…
Egypt’s CIB appoints former central bank governor Ramez as managing director
February 28, 2016
Egypt’s CIB appoints former central bank governor Ramez as managing director
Commercial International Bank (CIB), Egypt's largest listed company, said on Sunday it had appointed former central bank governor Hisham Ramez…
Deepening default fears cast shadow over Venezuela’s oil flows
February 27, 2016
Deepening default fears cast shadow over Venezuela’s oil flows
As Venezuela grows closer to exhausting nearly every means of paying its debt, some oil market participants are seriously pondering…
G20 communique says monetary policy alone cannot bring balanced growth
February 27, 2016
G20 communique says monetary policy alone cannot bring balanced growth
Policymakers from the world's top economies said on Saturday that the world needs to look beyond easy monetary policy to…