Economy
Dollar exchange rate sees slight decline on Monday: Egypt banks
November 13, 2017
Dollar exchange rate sees slight decline on Monday: Egypt banks
US dollar prices against the Egyptian pound declined in several Egyptian banks on Monday after the greenback maintained prices in October…
US dollar exchange rate stable during Sunday trading
November 12, 2017
US dollar exchange rate stable during Sunday trading
The US dollar exchange rate was stable against the Egyptian pound on Sunday morning trading in Egypt’s banks. The National Bank of…
S&P lifts Egypt’s sovereign rating outlook to ‘positive’
November 11, 2017
S&P lifts Egypt’s sovereign rating outlook to ‘positive’
International rating agency Standard and Poor’s (S&P) raised on Friday Egypt’s sovereign rating outlook to ‘positive’ from ‘stable’. S&P affirmed Egypt’s…
Dollar set for biggest weekly drop in four weeks
November 10, 2017
Dollar set for biggest weekly drop in four weeks
The dollar edged higher on Friday as an overnight spike in US Treasury bond yields prompted some investors to buy…
Egypt inflation eases, paving way for looser monetary policy
November 10, 2017
Egypt inflation eases, paving way for looser monetary policy
Egypt’s inflation dipped for the third month in a row in October after hitting a record high on energy price…
Oil steadies as Middle East tensions offset concern over China demand
November 8, 2017
Oil steadies as Middle East tensions offset concern over China demand
Oil steadied on Wednesday as Chinese crude imports fell to a one-year low, but losses were offset by investor caution…
Billionaire Naguib Sawiris says dreams of owning bank in Egypt
November 8, 2017
Billionaire Naguib Sawiris says dreams of owning bank in Egypt
Egyptian billionaire businessman Naguib Sawiris said Tuesday that he wants to open a private bank in Egypt. “If the Governor of…
Saudi banks freeze more than 1,200 accounts in probe, number still rising: sources
November 7, 2017
Saudi banks freeze more than 1,200 accounts in probe, number still rising: sources
Saudi Arabian banks have frozen more than 1,200 accounts belonging to individuals and companies in the kingdom as part of…
Egypt’s foreign reserves jump to $36.7 bln in October, highest in history
November 6, 2017
Egypt’s foreign reserves jump to $36.7 bln in October, highest in history
Egypt recorded its highest level of foreign reserves in its history, Egypt’s Central Bank announced on Sunday, climbing from $36.535 billion at…
No fuel price hikes in current fiscal year: minister reiterates
November 3, 2017
No fuel price hikes in current fiscal year: minister reiterates
Petroleum Minister Tarek al-Mulla reiterated on Thursday that the Cabinet does not plan to raise the prices of petroleum products…