Economy
Will the Chinese yuan truly relieve Egypt’s need for US dollar?
December 14, 2016
Will the Chinese yuan truly relieve Egypt’s need for US dollar?
China's yuan joined the International Monetary Fund's basket of reserve currencies in October alongside the US dollar, the euro, the…
Abu Simbel Temple receives 620 tourists
December 14, 2016
Abu Simbel Temple receives 620 tourists
Abu Simbel archaeological area in Aswan received on Monday 620 tourists of different nationalities from European and east Asian countries,…
US dollar exchange rate surpasses LE18
December 14, 2016
US dollar exchange rate surpasses LE18
The exchange rate of the US dollar continued to rise against the Egyptian pound on Wednesday, to surpass LE18, the…
AFDB grants Egypt US$500 million: Minister
December 14, 2016
AFDB grants Egypt US$500 million: Minister
African Development Bank agreed on Tuesday to grant Egypt with US$500 million, which is the second category of the US$1.5…
Church blast expected to affect hotel bookings
December 13, 2016
Church blast expected to affect hotel bookings
Several hoteliers have confirmed the negative impact of the bomb blast at the Coptic cathedral on the bookings expected during…
Eni spreads Egypt gas field risk with Rosneft stake sale
December 13, 2016
Eni spreads Egypt gas field risk with Rosneft stake sale
Italian energy company Eni will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia's…
Oil surges after output cuts, strong dollar weighs
December 12, 2016
Oil surges after output cuts, strong dollar weighs
Oil prices jumped to their highest levels in a year and a half on Monday, after OPEC and non-OPEC producers…
Iran Air says signs deal to buy 80 Boeing passenger planes
December 11, 2016
Iran Air says signs deal to buy 80 Boeing passenger planes
Iran Air said it signed a deal on Sunday to buy 80 passenger planes from U.S. aircraft maker Boeing (BA.N),…
OPEC, non-OPEC agree first global oil pact since 2001
December 11, 2016
OPEC, non-OPEC agree first global oil pact since 2001
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a…
GASC gets one offer at white sugar tender
December 11, 2016
GASC gets one offer at white sugar tender
Egypt's state buyer, the General Authority for Supply Commodities (GASC), received one offer at its white sugar tender on Saturday,…