Business
US dollar exchange rates decline locally after Trump victory
November 10, 2016
US dollar exchange rates decline locally after Trump victory
The US dollar exchange rate continued to decline globally and locally on Thursday after Donald Trump was elected new US…
Egypt currency floatation drives up budget deficit
November 9, 2016
Egypt currency floatation drives up budget deficit
The decision to float the Egyptian pound caused confusion and revealed flaws in government estimates, which led, in preliminary indicators,…
Uber, Careem expected to raise fares, Ousta announces price increase
November 8, 2016
Uber, Careem expected to raise fares, Ousta announces price increase
Egypt’s ride-hailing services Uber and Careem are considering increasing their fares, while Ousta has already raised their fares in the…
Egypt to cut down imported medicines for three months
November 8, 2016
Egypt to cut down imported medicines for three months
After the Central Bank of Egypt (CBE) announced the pound floatation last Thursday, pharmaceutical companies have notified pharmacies Monday that…
Lawyer files lawsuit to cancel floating of Egyptian pound
November 7, 2016
Lawyer files lawsuit to cancel floating of Egyptian pound
Lawyer Ali Ayyub filed a lawsuit on Sunday at the State Council to demand canceling of the decision by Central…
Saudi’s Savola says faces 171 mln riyal Q4 hit from Egypt pound float
November 7, 2016
Saudi’s Savola says faces 171 mln riyal Q4 hit from Egypt pound float
Saudi Arabia's Savola Group , the country's largest food products company, said on Monday that the floatation of the Egyptian…
Dollar jumps after Clinton gets eleventh-hour election boost
November 7, 2016
Dollar jumps after Clinton gets eleventh-hour election boost
The dollar jumped on Monday as news that Hillary Clinton would not face criminal charges related to her use of…
Saudi Aramco halts petroleum product shipments to Egypt until further notice
November 7, 2016
Saudi Aramco halts petroleum product shipments to Egypt until further notice
National oil firm Saudi Aramco informed Egyptian authorities that it would halt shipments of petroleum products to Egypt "until further…
Egypt to submit letter of intent to IMF within three days -fin min quoted
November 7, 2016
Egypt to submit letter of intent to IMF within three days -fin min quoted
Egypt will submit within two or three days a letter of intent to the International Monetary Fund for a $12…
Egypt delays third LNG terminal until electricity needs determined – official
November 7, 2016
Egypt delays third LNG terminal until electricity needs determined – official
Egypt will delay plans to rent a third liquefied natural gas import (LNG) terminal for one month, until the ministry…