Business

Virus-hit Gulf has little room to boost revenue after oil price shock

Virus-hit Gulf has little room to boost revenue after oil price shock

DUBAI (Reuters) — The coronavirus outbreak and plunging crude prices are a double blow that leaves Gulf Arab governments with…
Coronavirus likely to increase US dollar exchange rate in Egypt: Experts

Coronavirus likely to increase US dollar exchange rate in Egypt: Experts

Experts anticipate that the worldwide spread of the novel coronavirus will increase the US dollar’s exchange rate against the Egyptian…
CBE announces measures to mitigate coronavirus impact on banking sector

CBE announces measures to mitigate coronavirus impact on banking sector

The Central Bank of Egypt (CBE) announced, on Sunday, a set of preventive measures in light of the coronavirus (COVID-19)…
Egypt set for agreement with France’s Rungis to develop wholesale markets

Egypt set for agreement with France’s Rungis to develop wholesale markets

Egypt’s Ministry of Supply and Internal Trade on Monday will sign a partnership agreement with Rungis, the largest French company…
Stocks, crude hammered as Trump’s Europe ban fans recession fears

Stocks, crude hammered as Trump’s Europe ban fans recession fears

Equities and oil prices fell through the floor again on Thursday after Donald Trump banned all travel from Europe to…
Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank

Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank

DUBAI (Reuters) — A record drop in oil prices and the coronavirus outbreak have left the Middle East and North…
US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices

US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices

The price of the US dollar against the Egyptian Pound went up in local banks during morning trading on Tuesday,…
Saudi Arabia increases oil output to record high

Saudi Arabia increases oil output to record high

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude…
Gold prices jump in Egypt as coronavirus fears weigh on global economy

Gold prices jump in Egypt as coronavirus fears weigh on global economy

The price of gold made a record jump in the Egyptian market on Monday by about LE 4, a result…
Egypt’s stock indexes tumble due to coronavirus

Egypt’s stock indexes tumble due to coronavirus

Egyptian stock indexes fell Monday during a sales session by Egyptian and Arab investors, following an announcement of rising coronavirus…
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