Economy
Gold prices in Egypt rise locally on Thursday
April 4, 2024
Gold prices in Egypt rise locally on Thursday
The price of 21-karat gold reached LE 3,110 in jewelry stores across Egypt. The global price of gold has been…
IMF Official Lauds Serious Reforms To Enhance Financial Stability In Egypt
April 4, 2024
IMF Official Lauds Serious Reforms To Enhance Financial Stability In Egypt
Alex Segura-Ubiergo, the IMF’s Resident Representative in Egypt, lauded serious reforms introduced by the Egyptian government to enhance financial stability…
Egyptian concessions on foreign currencies now at LE8 billion
March 31, 2024
Egyptian concessions on foreign currencies now at LE8 billion
Three exchange companies affiliated with Egypt’s largest government banks – the National Bank of Egypt (Al-Ahly Exchange), Banque Misr (Misr…
IMF Executive Board approves expanded US$8 billion loan to Egypt
March 30, 2024
IMF Executive Board approves expanded US$8 billion loan to Egypt
The Executive Board of the International Monetary Fund (IMF) on Friday completed the first and second reviews of the extended…
National Bank of Egypt intends to invest five billion LE this year
March 27, 2024
National Bank of Egypt intends to invest five billion LE this year
The National Bank of Egypt, the largest government bank in Egypt, intends to invest up to five billion LE during…
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
March 23, 2024
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
The Egyptian Group for Multi-Purpose Terminals Company (EGMPT), the commercial arm of the Egyptian Transport Ministry for maritime transport and…
Egypt allocates over US$12 billion to support citizens in new budget
March 20, 2024
Egypt allocates over US$12 billion to support citizens in new budget
The Egyptian government has allocated LE596 billion (US$12.66 billion) to the support system, as part of the upcoming draft budget…
Standard & Poor’s raises its outlook for Egypt from stable to positive
March 19, 2024
Standard & Poor’s raises its outlook for Egypt from stable to positive
The Standard & Poor’s credit rating agency upgraded Egypt’s outlook from stable to positive, affirming its rating at B-. Standard…
EU to announce financial package for Egypt totaling 7.4 billion euros: Report
March 17, 2024
EU to announce financial package for Egypt totaling 7.4 billion euros: Report
The Financial Times reported that a large financial package from the European Union (EU) worth 7.4 billion euros may be…
Goldman Sachs expects surplus in foreign financing to Egypt
March 17, 2024
Goldman Sachs expects surplus in foreign financing to Egypt
The Goldman Sachs bank expects a surplus in foreign financing to Egypt worth US$26.5 billion over the next four years,…