Economy

Egypt announces more flexible exchange rate policy as it devalues pound

Egypt announces more flexible exchange rate policy as it devalues pound

Egypt's central bank devalued the pound on Monday and said it would move to a more flexible exchange rate policy…
Oil back below $40 as Iran dashes hopes for quick deal on output

Oil back below $40 as Iran dashes hopes for quick deal on output

Oil fell around 2 percent on Monday after Iran dashed hopes that there would be a coordinated production freeze any…
China’s supply-side slogan means different things to different people

China’s supply-side slogan means different things to different people

To some it means upgrading China's ubiquitous hole-in-the-wall noodle shops, to others it is manufacturing high-tech toilet seats."Supply-side reform" is…
Central bank devalues Egyptian pound to LE8.85 per dollar at special FX auction

Central bank devalues Egyptian pound to LE8.85 per dollar at special FX auction

Egypt's central bank said on Monday it had devalued the Egyptian pound to LE8.85 per dollar at a special foreign…
Banque Misr: dollar black market rate down to LE9

Banque Misr: dollar black market rate down to LE9

The rate quoted for the US dollar among black market dealers has dropped to nearly LE9, down from a recently…
As market rallies back, investors turn eyes to the Fed

As market rallies back, investors turn eyes to the Fed

Investors who have pushed the US stock market higher over the past month will be taking their cues about the…
Oil pipeline agreement with Iraq, Jordan should be implemented: former minister

Oil pipeline agreement with Iraq, Jordan should be implemented: former minister

Former Petroleum Minister Osama Kamal has praised plans to build a two-way oil pipeline linking Egypt to Iraq via Jordan,…
FAO expert to arrive in Egypt on Sunday, work on ergot laws

FAO expert to arrive in Egypt on Sunday, work on ergot laws

A UN Food and Agriculture Organization (FAO) expert will arrive in Cairo on Sunday to study the effect of ergot…
AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

At least three major US companies, AT&T Inc (T.N), Starwood Hotels & Resorts Worldwide Inc (HOT.N) and Marriott International Inc…
Tourism real-estate firms lure potential investors are ITB Berlin trade show

Tourism real-estate firms lure potential investors are ITB Berlin trade show

Egypt's representatives at the ITB Berlin travel trade show have reported large numbers of visitors to the Egypt area, including…
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