Business

Egypt aims to reduce government debt to 77.5% by June 2022

Egypt aims to reduce government debt to 77.5% by June 2022

The Egyptian Finance Ministry announced on Friday that the government is targeting the budget for the fiscal year 2019/2020 with…
Sisi approves 350 mn euro loan from European Investment Bank for metro’s first line

Sisi approves 350 mn euro loan from European Investment Bank for metro’s first line

President Abdel Fattah al-Sisi issued on Thursday Presidential Decree No. 76 of 2019 approving a government agreement with the European…
Egypt’s stock exchange, banks resume work on Wednesday

Egypt’s stock exchange, banks resume work on Wednesday

Egypt’s stock exchange and banks will resume work on Wednesday following the three-day-vacation from August 11 till August 13 for…
Egypt to increase oil production to 690,000 barrels per day: minister

Egypt to increase oil production to 690,000 barrels per day: minister

Egyptian Minister of Petroleum Tarek al-Mulla announced a program to increase oil production and make further oil discoveries. In remarks…
Egypt’s banks to pay back dues of Suez Canal certificates in September

Egypt’s banks to pay back dues of Suez Canal certificates in September

Investor experts said that Egyptian banks will pay back on September 4 the dues of Suez Canal certificates amounting LE64…
Egypt’s inflation rate sees 1.5% increase in July: CAPMAS

Egypt’s inflation rate sees 1.5% increase in July: CAPMAS

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) said on Thursday that the country’s inflation rate increased by 1.5 percent…
Sisi officially approves Egypt-EIB loan agreement

Sisi officially approves Egypt-EIB loan agreement

President Abdel Fattah al-Sisi has approved a government agreement between Egypt and the European Investment Bank (EIB) on the Kitchener…
Minister: Companies sign MoU establishing ammonia plant in Suez

Minister: Companies sign MoU establishing ammonia plant in Suez

Egypt’s Minister of Public Business Sector Hesham Tawfik witnessed on Wednesday the signing of a Memorandum of Understanding (MoU) between…
Egypt’s foreign currency reserves increase to US$44.916 bn in July: CBE

Egypt’s foreign currency reserves increase to US$44.916 bn in July: CBE

The Central Bank of Egypt (CBE) said on Tuesday that the value of the country’s foreign currency reserves reached US$44.916…
Summer sales, Eid al-Adha boost clothes sales

Summer sales, Eid al-Adha boost clothes sales

The coming of the Eid al-Adha holiday along with the announcement of summer sales at the end of July, 40…
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