currency floatation
US dollar at LE17.65 in Egypt banks
Egypt
February 12, 2017
US dollar at LE17.65 in Egypt banks
The US dollar exchange rate continued to decline in banks on Sunday; the lowest rate found in banks was LE17.65…
US dollar exchange rate declines slightly
Business
February 8, 2017
US dollar exchange rate declines slightly
The US dollar exchange rate declined slightly in banks on Wednesday; the lowest rate found in banks was LE18.15 to…
Egypt’s Banque Misr signs MoU with Chinese lender over US$500 mln loan
Business
December 19, 2016
Egypt’s Banque Misr signs MoU with Chinese lender over US$500 mln loan
Egypt's second-largest state-owned lender, Banque Misr, signed a memorandum of understanding with the Industrial and Commercial Bank of China (ICBC)…
Egypt received inflows of $1 billion in month since currency float: central bank
Business
December 11, 2016
Egypt received inflows of $1 billion in month since currency float: central bank
Egypt's central bank governor Tarek Amer said on Saturday the country had received inflows of around $1 billion in the…
Increase in White Taxi, Uber, Careem fares approved
Egypt
November 22, 2016
Increase in White Taxi, Uber, Careem fares approved
Cairo governor Atef Abdel Hamid approved on Monday evening the new tariff for white taxis, following an increase in fuel…
US dollar hits LE18 again
Business
November 21, 2016
US dollar hits LE18 again
The US dollar continued its rise against the Egyptian pound in the banks for the second consecutive day on Monday,…
Egypt’s pound weakens as dollar demand surges, interest rates steady
Business
November 20, 2016
Egypt’s pound weakens as dollar demand surges, interest rates steady
The Egyptian pound weakened significantly on Sunday as banks scrambled to meet a surge in demand for dollars and the…
Up to 45% increase in EgyptAir tickets next week
Egypt
November 9, 2016
Up to 45% increase in EgyptAir tickets next week
EgyptAir is set to announce within hours or on Sunday, an increase of 35 to 45 percent to the price…
Egypt currency floatation drives up budget deficit
Business
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,…
Saudi’s Savola says faces 171 mln riyal Q4 hit from Egypt pound float
Business
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…