Economy

Will the Chinese yuan truly relieve Egypt’s need for US dollar?

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

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

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

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

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

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

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

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

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

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,…
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