economy

Egypt’s economy to grow 3.9 percent in 2016/17, missing government target: poll
Business

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

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

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

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

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

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

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

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

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

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,…
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