Business
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…
CBE suspends work for Resurrection Sunday and Sham al-Nassim
April 15, 2020
CBE suspends work for Resurrection Sunday and Sham al-Nassim
The Central Bank of Egypt (CBE) has suspended work across all its banks for April 19 and April 20 due…
Oman says will cut oil output by 200,000 bpd from May 1
April 14, 2020
Oman says will cut oil output by 200,000 bpd from May 1
DUBAI (Reuters) — Oman has told its oil producing companies to cut 200,000 barrels per day starting from May 1…
UAE central bank urges commercial lenders to use stimulus scheme
April 13, 2020
UAE central bank urges commercial lenders to use stimulus scheme
DUBAI (Reuters) — The United Arab Emirates (UAE) central bank has urged commercial lenders to use the US$70 billion-worth of…