Economy

Special Report: Vladimir’s Venezuela, Leveraging loans to Caracas, Moscow snaps up oil assets

Special Report: Vladimir’s Venezuela, Leveraging loans to Caracas, Moscow snaps up oil assets

Venezuela’s unraveling socialist government is increasingly turning to ally Russia for the cash and credit it needs to survive, and…
Egypt’s Suez Canal revenues jump to $446.3 million in July: Reuters calculations

Egypt’s Suez Canal revenues jump to $446.3 million in July: Reuters calculations

Egypt’s Suez Canal revenues jumped to $446.3 million in July from $427.2 million in June, according to Reuters’ calculations. A…
US dollar prices fall below LE 17.90 Sunday

US dollar prices fall below LE 17.90 Sunday

The US dollar exchange rate against Egyptian pound declined slightly within bank dealings Sunday in Egypt. “The trade movement of…
Egypt’s foreign direct investment rises to about $8.7 bln in FY 2016-17 -Investment Minister

Egypt’s foreign direct investment rises to about $8.7 bln in FY 2016-17 -Investment Minister

Foreign direct investment in Egypt is expected to have risen to about $8.7 billion in the 2016-17 fiscal year that…
USD bank exchange rate below LE18, stable

USD bank exchange rate below LE18, stable

The USD exchange rate on Thursday is stable in Egyptian banks, according to local bankers. The US dollar is being…
Egypt Reserves Reach Record High of Over $36 Billion

Egypt Reserves Reach Record High of Over $36 Billion

Egypt’s foreign reserves reached $36.036 billion in July, a record high, which the prime minister described as “good news” as…
US dollar still stands below LE18

US dollar still stands below LE18

The US exchange rate against the Egyptian pound slightly stood under LE18 within the bank dealings on Tuesday morning. According to…
Private sector still faces “risks” after EGP devaluation: Financial Times

Private sector still faces “risks” after EGP devaluation: Financial Times

Factories and entrepreneurs in Egypt are still facing tremendous “risks” after the flotation of the Egyptian pound in November 2016, the…
Custom US dollar price declines to LE16.25: Minister of Finance:

Custom US dollar price declines to LE16.25: Minister of Finance:

In a statement Sunday, the Minister of Finance Amr al-Garhi said the Ministry will decline the custom US dollar price…
US dollar records less than LE18

US dollar records less than LE18

US dollar exchange rates against Egyptian pound fell below LE18 in bank dealings on Sunday morning. According to the latest currency…
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