economy

Egypt to consider yen, yuan bonds after dollar sale last week
Business

Egypt to consider yen, yuan bonds after dollar sale last week

Egypt may issue bonds in other international currencies, after successfully selling $4 billion of Eurobonds last week, Finance Minister Amr…
Egypt plans currency swap with Russia
Business

Egypt plans currency swap with Russia

The Egyptian government is considering signing a currency swap agreement with Russia, following in the footsteps of its agreement with…
Hermes projects US dollar at LE15 by the end of 2017
Business

Hermes projects US dollar at LE15 by the end of 2017

EFG Hermes investment bank is expecting improvement in the Egyptian pound exchange rate by the end of the current year…
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…
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