economy
Egypt’s economy to grow 3.9 percent in 2016/17, missing government target: poll
Business
January 20, 2017
Egypt’s economy to grow 3.9 percent in 2016/17, missing government target: poll
Egypt's economy will expand by 3.9 percent in the fiscal year ending in June, missing the government's target of around…
Moody’s expects 4% economic growth for Egypt in 2017
Business
January 17, 2017
Moody’s expects 4% economic growth for Egypt in 2017
Moody's Investor Service expects that Egypt's economy will grow by 4% in 2017, and the growth rate will increase 4.5%…
Egyptian importers face bankruptcy after currency float
Egypt
January 6, 2017
Egyptian importers face bankruptcy after currency float
Mohsen al-Gedamy has run a successful business for the past seven years importing beans, a staple food for many Egyptians,…
Egyptian pound approaches 20 to US dollar in banks
Business
December 20, 2016
Egyptian pound approaches 20 to US dollar in banks
The Egyptian pound depreciated further against the dollar in some banks mid-Tuesday, reaching a selling price of 19.75 compared to…
Egypt’s non-oil business activity falls to 40-month low as costs rise: PMI
Business
December 5, 2016
Egypt’s non-oil business activity falls to 40-month low as costs rise: PMI
Business activity in Egypt shrank in November, with the deterioration picking up pace for the fourth consecutive month, as weakness…
Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors
Business
December 3, 2016
Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors
Egypt's largest listed lender CIB sold a near-72 percent stake in its investment banking arm CI Capital to Egyptian and…
Kuwait to supply Egypt with 2 million barrels of oil a month
Business
November 16, 2016
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…
No quick portfolio inflows due to Egypt devaluation, fund managers say
Business
November 6, 2016
No quick portfolio inflows due to Egypt devaluation, fund managers say
Egypt's currency devaluation may eventually bring foreign money into the country, but fund managers say uncertainty about the economy means…
Egypt cancels treasury bill auctions signalling more moderate rate hike
Business
October 31, 2016
Egypt cancels treasury bill auctions signalling more moderate rate hike
Egypt cancelled its three and nine month treasury bill auction on Sunday, data from the central bank showed, confounding market…
FEDCOC calls for halt to importation of non-essential goods
Business
October 30, 2016
FEDCOC calls for halt to importation of non-essential goods
The Federation of Egyptian Chambers of Commerce (FEDCOC) has called for a rationalization of imports over the next three months,…