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Severe bottleneck in supply chains due to Red Sea tensions
January 22, 2024
Severe bottleneck in supply chains due to Red Sea tensions
Tensions in the Red Sea have impacted global supply chains, causing inflation in addition to a rise in shipping costs…
IMF begins review of Egypt’s economic reform program
January 21, 2024
IMF begins review of Egypt’s economic reform program
An International Monetary Fund (IMF) team, led by the head of the fund’s mission to Egypt Ivanna Vladkova Hollar, began…
Egypt responds to Moody’s changing its future outlook to negative
January 20, 2024
Egypt responds to Moody’s changing its future outlook to negative
Egypt’s Finance Ministry assured that the government is working to manage macroeconomic risks with flexibility to contain successive external shocks,…
Owing to Egypt’s economic situation, several international brands to close stores
January 19, 2024
Owing to Egypt’s economic situation, several international brands to close stores
The Al Shaya Group, a Kuwaiti retail company, has decided to close some of its stores in Egypt due to…
‘A tough new year for Egypt’ – Moody’s expects significant economic pressures
January 18, 2024
‘A tough new year for Egypt’ – Moody’s expects significant economic pressures
The Moody’s credit rating agency anticipates that Egypt will face significant pressures in 2024 for both debt and financial liquidity.…
Large gold mine discovered in Egypt’s Eastern Desert
January 18, 2024
Large gold mine discovered in Egypt’s Eastern Desert
The advisor to the Egyptian Minister of Supply for Gold Industry affairs Naji Farag, announced the discovery of a new…
Clashes on Egypt-Israel borders, smugglers arrested
January 16, 2024
Clashes on Egypt-Israel borders, smugglers arrested
The Israeli army announced that 20 people, including gunmen, approached the Israeli border with Egypt near the Nitzana Border Crossing…
Russia accuses US of starting ‘world war’
January 14, 2024
Russia accuses US of starting ‘world war’
The US and UK’s attacks on Huthi groups in Yemen continue to escalate, while Russian has demanded to prosecute US…
Egyptian official responds to Israel’s claims regarding Rafah crossing
January 13, 2024
Egyptian official responds to Israel’s claims regarding Rafah crossing
The head of the Egyptian State Information Service (SIS), Diaa Rashwan, responded to claims made by Israel’s defense at the…
Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation
January 12, 2024
Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation
Capital Economics, an independent economic research business based in the UK, noted that Egypt’s agreement with the International Monetary Fund…