Business
Trade exchange between Egypt, Ukraine reaches US$941 mn in 2015
February 25, 2016
Trade exchange between Egypt, Ukraine reaches US$941 mn in 2015
Trade exchange between Egypt and Ukraine reached US$941 million during an 11-month period in 2015, according to Ukrainian Ambassador to…
Air France-KLM revenue stuck in Egypt amid dollar crisis
February 24, 2016
Air France-KLM revenue stuck in Egypt amid dollar crisis
Air France-KLM has urged Egypt to release upward of 100 million Egyptian pounds (US$13 million) in revenue it is unable…
Egypt’s Midor signs US$1.2 billion loan agreement
February 23, 2016
Egypt’s Midor signs US$1.2 billion loan agreement
Egypt's state-owned Middle East Oil Refinery Company (Midor) has signed an initial loan agreement with three banks for US$1.2 billion,…
Egyptian pound steady at forex sale, weaker on black market
February 23, 2016
Egyptian pound steady at forex sale, weaker on black market
The Egyptian pound held steady against the dollar at an official foreign currency auction on Tuesday but weakened on the…
CBE not to reduce pound exchange rate: governor
February 22, 2016
CBE not to reduce pound exchange rate: governor
The Central Bank of Egypt (CBE) will not reduce the exchange rate of the Egyptian pound before the foreign reserves…
Orascom projects in Ethiopia delayed, not cancelled, says chairman
February 21, 2016
Orascom projects in Ethiopia delayed, not cancelled, says chairman
Samih Sawiris, Chairman of Orascom Development Holding, has blamed the delayed investment of his company in Ethiopia on Egypt’s stance…
Egyptian pound steady at forex sale and black market
February 21, 2016
Egyptian pound steady at forex sale and black market
The Egyptian pound held steady against the dollar at an official foreign currency auction on Sunday and on the black…
China removes stocks regulator head after market woes
February 21, 2016
China removes stocks regulator head after market woes
China has removed the head of its securities regulator following a turbulent period in the country's stock markets, appointing a…
Central Bank chief dismisses reports of investor exit as ‘malicious’
February 20, 2016
Central Bank chief dismisses reports of investor exit as ‘malicious’
Central Bank Governor Tareq Amer has assured Egyptians of the resilience of the country’s economy, dismissing reports about investors leaving…
Egypt signs US$500 mn facility agreement with Afreximbank to ease FX shortage
February 20, 2016
Egypt signs US$500 mn facility agreement with Afreximbank to ease FX shortage
The African Export-Import Bank (Afreximbank) has agreed a US$500 million facility with the Central Bank of Egypt (CBE) to help…