Economy
Agreement with World Bank underway for US$150 mn fund: trade minister
March 1, 2017
Agreement with World Bank underway for US$150 mn fund: trade minister
An agreement with the World Bank for a new funding program is underway, targeting the development of infrastructure and labor-intensive…
EgyptAir re-allows cheaper ‘sold outside, ticketed outside’ fares
March 1, 2017
EgyptAir re-allows cheaper ‘sold outside, ticketed outside’ fares
Minister of Civil Aviation Sherif Fathy issued a decision to revive the SOTO booking system in Egypt from March 1.
Egypt banks cleared to repatriate foreign firms’ long-held profits
March 1, 2017
Egypt banks cleared to repatriate foreign firms’ long-held profits
Egyptian banks are set to allocate about a quarter of their excess hard currency to foreign firms seeking to repatriate…
European delegations to visit Cairo for investment opportunities
February 28, 2017
European delegations to visit Cairo for investment opportunities
Several European countries have started organizing official visits to Cairo for delegations comprised of investors and businessmen to discuss investment opportunities in…
Russia to sign agreement on flights resumption in March: minister
February 27, 2017
Russia to sign agreement on flights resumption in March: minister
Russian Transport Minister Maxim Sokolov expected Moscow to sign an agreement on the resumption of flights with Cairo in March. "In…
20 foreign, Egyptian companies propose Red Sea investments worth LE50 bn
February 24, 2017
20 foreign, Egyptian companies propose Red Sea investments worth LE50 bn
The Red Sea Governorate announced its cooperation with the Ministry of Investment to decide by mid-March on offers made by…
Trump calls Chinese ‘grand champions’ of currency manipulation
February 24, 2017
Trump calls Chinese ‘grand champions’ of currency manipulation
President Donald Trump declared China the "grand champions" of currency manipulation on Thursday, just hours after his new Treasury secretary…
US dollar exchange rate goes up at 10 banks
February 23, 2017
US dollar exchange rate goes up at 10 banks
US dollar exchange rate recorded its highest increase at the Egyptian-Gulf Bank, out of 23 banks operating in Egypt, to…
Oil prices rise after report shows drop in US stocks
February 23, 2017
Oil prices rise after report shows drop in US stocks
Oil prices rose on Thursday after US data showed a surprise decline in inventories, suggesting that a global glut may…
Germany spends on migrants, boosting growth as budget surplus soars
February 23, 2017
Germany spends on migrants, boosting growth as budget surplus soars
Germany posted a record budget surplus last year helped by rising tax revenues and employment and low debt costs, creating conditions for…