Business
Egypt lowers growth target for next fiscal year to 3.5 percent due to coronavirus
April 21, 2020
Egypt lowers growth target for next fiscal year to 3.5 percent due to coronavirus
Egypt has lowered its growth target for fiscal year 2020-2021 to 3.5 percent, down from its original target of 5.8…
Moody’s expects Egypt’s economy to grow by 4.4 percent by end of current fiscal year
April 21, 2020
Moody’s expects Egypt’s economy to grow by 4.4 percent by end of current fiscal year
The Moody’s corporation anticipates the Egyptian economy to grow 4.4 percent by the end of the current fiscal year 2019/2020…
US dollar exchange rate stabilizes in Egyptian banks
April 20, 2020
US dollar exchange rate stabilizes in Egyptian banks
The exchange rate of the US dollar against the Egyptian pound stabilized on Monday in Egyptian banks, compared with Sunday’s…
Egypt to establish giant commodity stores at LE21 bn cost
April 19, 2020
Egypt to establish giant commodity stores at LE21 bn cost
Egyptian Ministry of Supply’s Internal Trade Development Authority on Sunday consulted with several global companies to establish giant commodity stores…
Africa needs US$114 bn this year in its fight against coronavirus: IMF
April 18, 2020
Africa needs US$114 bn this year in its fight against coronavirus: IMF
Africa needs an estimated US$114 billion in 2020 as it fights against the coronavirus, leaving a financing gap of around…
Saudi Arabia faces coronavirus crisis with strong reserves, low debt-minister
April 17, 2020
Saudi Arabia faces coronavirus crisis with strong reserves, low debt-minister
CAIRO (Reuters) — Saudi Arabia is facing the global crisis from a position of strength, given its strong financial position…
US job losses mount as economic pain deepens worldwide
April 16, 2020
US job losses mount as economic pain deepens worldwide
WASHINGTON (AP) — The ranks of Americans thrown out of work by the coronavirus ballooned Thursday to more than 20…
Egypt to receive more than 186 mn euros in loans
April 16, 2020
Egypt to receive more than 186 mn euros in loans
Egypt’s Official Gazette on Thursday issued a decree made by President Abdel Fattah al-Sisi approving a loan for 186 million…
IMF predicts global recession, forecast for Egypt is positive
April 15, 2020
IMF predicts global recession, forecast for Egypt is positive
The International Monetary Fund on Tuesday significantly reduced its expectations for global economic growth, anticipating a global recession amid the…
Egypt buys less wheat than anticipated at tender to boost reserves
April 15, 2020
Egypt buys less wheat than anticipated at tender to boost reserves
* Traders say prices offered were high * Egypt wants to buy 800,000 tonnes from abroad * Rare purchasing tender…