Business

Kuwait to supply Egypt with 2 million barrels of oil a month

Kuwait to supply Egypt with 2 million barrels of oil a month

Egypt's state news agency says Kuwait has agreed to supply Egypt with 2 million barrels of crude per month, starting…
Oil pinned near three-month lows as gloom grows over OPEC

Oil pinned near three-month lows as gloom grows over OPEC

Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak…
US dollar exchange rate continues to decline

US dollar exchange rate continues to decline

The US dollar exchange rate continued to decline compared to the Egyptian pound in major banks since the IMF announced…
Dollar soars as US yields spike; global shares divided

Dollar soars as US yields spike; global shares divided

The US dollar hit an 11-month peak on Monday as the risk of faster domestic inflation and wider budget deficits…
Egypt nears $800 million European aid deal to expand social safety net

Egypt nears $800 million European aid deal to expand social safety net

Egypt is in advanced talks with European countries to secure bilateral loans worth US$800 million as it expands efforts to…
In largest deal since 2011, exchange company sells US$2.5 million to NBE

In largest deal since 2011, exchange company sells US$2.5 million to NBE

Egyptian Exchange Company and state-run National Bank of Egypt (NBE) struck the largest foreign currency deal in the local market…
Egypt projects LE100 billion investments in industry by 2020

Egypt projects LE100 billion investments in industry by 2020

Egypt’s Industry Ministry on Saturday declared its strategy to promote industrial development and foreign trade, targeting to double the rate…
IMF bailout for Egypt seeks major reduction in public debt

IMF bailout for Egypt seeks major reduction in public debt

The International Monetary Fund said on Friday that its $12 billion bailout program for Egypt aims to reduce the country's…
Egypt central bank in $2 bln financing deal with global banks

Egypt central bank in $2 bln financing deal with global banks

Egypt's central bank said on Thursday it had reached a $2 billion financing agreement with a consortium of international banks,…
Thomas Cook to operate 36 flights weekly to Egypt – Tourism Minister

Thomas Cook to operate 36 flights weekly to Egypt – Tourism Minister

Thomas Cook airlines will increase its flights to Egypt this winter, Tourism Minister Yehia Rashed said, adding that it is…
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