Economy
In surprise move, CBE hikes key interest rates
May 22, 2017
In surprise move, CBE hikes key interest rates
The Central Bank of Egypt raised its key interest rates by 200 basis points on Sunday, citing stronger economic growth…
OPEC, hedge funds and the Sistine Chapel
May 22, 2017
OPEC, hedge funds and the Sistine Chapel
It was an unconventional venue for an unusual encounter: in the Vatican’s Sistine Chapel in the summer of 2016, OPEC’s…
US dollar exchange rate stable during Sunday trading
May 21, 2017
US dollar exchange rate stable during Sunday trading
The US dollar exchange rate has been stable during Sunday trading. The purchasing rate at the National Bank of Egypt and Banque…
China and Egypt cooperate to manufacture electricity generators
May 19, 2017
China and Egypt cooperate to manufacture electricity generators
The National Organization for Military Production in Egypt and China’s Dongfang Electric Corporation signed a protocol of cooperation in the…
Egypt says coordinating with World Bank to finance $200 mn program
May 19, 2017
Egypt says coordinating with World Bank to finance $200 mn program
Minister of Trade and Industry Tarek Qabil said that his ministry is currently coordinating with the World Bank to finance…
Japan’s economy posts longest expansion in a decade
May 18, 2017
Japan’s economy posts longest expansion in a decade
Japan’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also…
IMF backs Egypt plan to remove fuel subsidies in three years, ease inflation
May 18, 2017
IMF backs Egypt plan to remove fuel subsidies in three years, ease inflation
The International Monetary Fund is encouraged by Egypt’s efforts to remove fuel subsidies within three years and push inflation down…
Financial crisis over, 2018 to witness boom: CBE governor
May 17, 2017
Financial crisis over, 2018 to witness boom: CBE governor
The financial crisis is over and 2018 will see a boom, said Governor of the Central Bank of Egypt Tarek…
CBE takes measures to protect Egypt’s banks against ransomware
May 17, 2017
CBE takes measures to protect Egypt’s banks against ransomware
The Central Bank of Egypt (CBE) issued instructions to banks operating in the local market to take precautionary measures to…
Foreign exchange rates stable at Egypt banks Tuesday
May 16, 2017
Foreign exchange rates stable at Egypt banks Tuesday
The Governor of the Central Bank of Egypt, Tarek Amer, said that the situation has improved greatly since the flotation…