Economy
China removes stocks regulator head after market woes
February 21, 2016
China removes stocks regulator head after market woes
China has removed the head of its securities regulator following a turbulent period in the country's stock markets, appointing a…
Central Bank chief dismisses reports of investor exit as ‘malicious’
February 20, 2016
Central Bank chief dismisses reports of investor exit as ‘malicious’
Central Bank Governor Tareq Amer has assured Egyptians of the resilience of the country’s economy, dismissing reports about investors leaving…
Egypt signs US$500 mn facility agreement with Afreximbank to ease FX shortage
February 20, 2016
Egypt signs US$500 mn facility agreement with Afreximbank to ease FX shortage
The African Export-Import Bank (Afreximbank) has agreed a US$500 million facility with the Central Bank of Egypt (CBE) to help…
ADB to support Egypt’s new capital with US$1.5 bn
February 20, 2016
ADB to support Egypt’s new capital with US$1.5 bn
The African Development Bank has vowed to provide a US$1.5 billion contribution to the financing of Egypt’s New Administrative Capital…
Egypt’s strategic wheat reserves to last until early June: minister
February 20, 2016
Egypt’s strategic wheat reserves to last until early June: minister
Egypt's strategic wheat reserves are enough to last until the start of June, Supply Minister Khaled Hanafi said in a…
Stocks knocked back as oil rally falters
February 19, 2016
Stocks knocked back as oil rally falters
A faltering oil price rally pushed back European stocks and sent benchmark German Bund yields below 0.20 percent on Friday…
Analysts expect further ‘dollarization’ after sharp declines in Egyptian currency
February 19, 2016
Analysts expect further ‘dollarization’ after sharp declines in Egyptian currency
Analysts and bankers expect an increase in Egyptians' demands to convert Egyptian pounds to US dollars, a phenomenon known as…
Egypt struggles to get subsidized food to poor amid dollar crisis
February 19, 2016
Egypt struggles to get subsidized food to poor amid dollar crisis
"Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's…
Egypt’s stocks inch down mid-trade after morning rise
February 18, 2016
Egypt’s stocks inch down mid-trade after morning rise
After making a slight increase half an hour into trading, the Egyptian stock market’s benchmark index EGX 30 edged down…
Egyptian pound steady at forex sale, black market under pressure
February 18, 2016
Egyptian pound steady at forex sale, black market under pressure
The Egyptian pound was steady against the dollar at an official forex auction on Thursday and black market traders quoted…