Economy
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,…
Egypt received inflows of $1 billion in month since currency float: central bank
December 11, 2016
Egypt received inflows of $1 billion in month since currency float: central bank
Egypt's central bank governor Tarek Amer said on Saturday the country had received inflows of around $1 billion in the…
UK retail sales in November show strongest growth in 14 months – BDO
December 10, 2016
UK retail sales in November show strongest growth in 14 months – BDO
Britain's retailers enjoyed their strongest monthly sales growth for 14 months in November, helped by a return to growth in…
Oil extends gains on hopes for non-OPEC output cuts
December 9, 2016
Oil extends gains on hopes for non-OPEC output cuts
Oil prices extended gains for a second session running on Friday on optimism that non-OPEC producers would agree to cut…
US dollar selling rate increases at four banks
December 8, 2016
US dollar selling rate increases at four banks
The US dollar surge has continued at banks on Thursday at four banks including the National Bank of Egypt (NBE),…
Oil rallies over $50 despite OPEC output cut doubts
December 8, 2016
Oil rallies over $50 despite OPEC output cut doubts
Oil prices recovered above US$50 a barrel on Thursday, bouncing back from the week's lows as the dollar weakened against…
Inflation rate in consumer prices rises to 19.4 percent – CAPMAS
December 8, 2016
Inflation rate in consumer prices rises to 19.4 percent – CAPMAS
The annual inflation rate in consumer prices in Egypt's cities rose to 19.4 percent in November, compared to 13.6 percent…
Egyptian oil company takes $200 million loan for electricity generation
December 7, 2016
Egyptian oil company takes $200 million loan for electricity generation
Egypt's state oil company signed a $200 million loan agreement on Tuesday with the African Export-Import Bank to help expand…
In blow to UK, EU rejects leeway for financial traders from tax avoidance rules
December 6, 2016
In blow to UK, EU rejects leeway for financial traders from tax avoidance rules
Most European Union finance ministers on Tuesday rejected a British-backed plan to exempt financial traders from new rules aimed at…