Economy
Egyptian pound tumbles to LE30 against US dollar, breaking all previous records
January 11, 2023
Egyptian pound tumbles to LE30 against US dollar, breaking all previous records
The Egyptian pound witnessed a historic low on Wednesday, hitting LE30 versus the US dollar in the money markets. Egypt…
CIB Egypt offers Certificates of Deposit with distinctive return, following NBE, Banque Misr
January 11, 2023
CIB Egypt offers Certificates of Deposit with distinctive return, following NBE, Banque Misr
Commercial International Bank Egypt announced Tuesday, that it would raise the interest on Certificates of Deposit (CDs) for a year…
US dollar price in Egypt on Thursday
January 5, 2023
US dollar price in Egypt on Thursday
On Thursday, January 5, 2023, the price of the US dollar against the Egyptian pound rose in Egypt one bank…
Ten years in prison, fine in millions for US dollar manipulators, CBE
December 27, 2022
Ten years in prison, fine in millions for US dollar manipulators, CBE
The Central Bank of Egypt has revealed a prison sentence of no less than three years and no more…
Egyptian expert predicts ease to US dollar shortage in the next year
December 17, 2022
Egyptian expert predicts ease to US dollar shortage in the next year
Economic expert Hany Geneina shot down recent news that the Egyptian pound is going the same fate of the Sudanese…
New ’Narges’ gas field discovered in Egypt’s Mediterranean waters
December 15, 2022
New ’Narges’ gas field discovered in Egypt’s Mediterranean waters
Egyptian Petroleum Minister, Tariq al-Mulla, announced that Egypt has discovered a new gas field in the Mediterranean Sea, which is…
Bloomberg: PIF prepares to acquire a bank in Egypt
December 13, 2022
Bloomberg: PIF prepares to acquire a bank in Egypt
The Saudi Public Investment Fund is in advanced talks for the acquisition of The United Bank, which is owned by…
Finance Ministry refutes rumors on US dollar rate reaching LE40
December 10, 2022
Finance Ministry refutes rumors on US dollar rate reaching LE40
During a phone-in with Sada al-Balad channel on Thursday, Maait touched on rumors on social media regarding the rise in…
US dollar price rises in Egypt on Thursday’s mid-trading
December 8, 2022
US dollar price rises in Egypt on Thursday’s mid-trading
On Thursday December 8, the price of the US dollar rose against the Egyptian pound. This is the case in…
MP calls on govt to clarify plans about floating the Egyptian pound
December 8, 2022
MP calls on govt to clarify plans about floating the Egyptian pound
Member of the Egyptian Parliament, Amira Abu Shaqqa, called on the Ministry of Industry and Trade to draw up a…