Business
Egypt’s central bank cuts interest rates by 50 basis points
November 13, 2020
Egypt’s central bank cuts interest rates by 50 basis points
Egypt’s central bank cut its main interest rates by 50 basis points on Thursday, moving to support an economy badly…
Sixteen hotels planned to open on Red Sea archipelago by Saudi Arabia in 2023
November 12, 2020
Sixteen hotels planned to open on Red Sea archipelago by Saudi Arabia in 2023
The Red Sea Development Company (TRSDC), a tourism project of Saudi Arabia, is planning to inaugurate 16 hotels by the…
Egypt’s debt declines to 78 percent in June 2020: Minister
November 11, 2020
Egypt’s debt declines to 78 percent in June 2020: Minister
Minister of Finance Mohamed Maait on Wednesday announced that Egypt’s debt declined to 78 percent in June 2020 and 90.2…
Egypt, World Bank agree to invest US$450 mn to battle coronavirus
November 11, 2020
Egypt, World Bank agree to invest US$450 mn to battle coronavirus
Egyptian Minister of International Cooperation Rania al-Mashat and the World Bank on Tuesday has agreed to invest US$450 million to…
Egypt’s headline inflation quickens to 4.5% in October
November 10, 2020
Egypt’s headline inflation quickens to 4.5% in October
Egypt’s annual urban consumer price inflation rose to 4.5 percent in October from 3.7 percent in September, official statistics agency…
Gold prices rise again after Monday’s unprecedented decline
November 10, 2020
Gold prices rise again after Monday’s unprecedented decline
After a historic drop of LE38 on Monday, the price of gold rose again Tuesday morning, recording an increase of…
Egypt, European Investment Bank to sign €1.1 billion financing agreement for upcoming major projects
November 10, 2020
Egypt, European Investment Bank to sign €1.1 billion financing agreement for upcoming major projects
Egypt’s Ministry of Transportation agreed on Monday to sign a financing agreement worth €1.1 billion with the European Investment Bank (EIB)…
Dollar hits ten-week low following US presidential election
November 9, 2020
Dollar hits ten-week low following US presidential election
The US dollar fell to its lowest level in ten weeks on Monday, with investors buying trade-exposed currencies in anticipation…
FEC: Egyptian food exports up 2 percent this year
November 9, 2020
FEC: Egyptian food exports up 2 percent this year
The Food Export Council (FEC) in Egypt announced on Monday that the country’s processed food exports from January to September…
Egypt’s credit rating maintains stable outlook: Standard and Poor’s
November 7, 2020
Egypt’s credit rating maintains stable outlook: Standard and Poor’s
Standard and Poor’s (S&P) has kept Egypt’s credit rating in domestic and hard currencies at level B, maintaining a stable…