Economy
Gold prices rise on back of dollar shortage: traders
October 31, 2016
Gold prices rise on back of dollar shortage: traders
Gold prices rose on Sunday, with a pound of gold valued at LE5,040, while a gram of 24-carat gold cost…
Egypt reaches $2.7 bn currency swap deal with China
October 31, 2016
Egypt reaches $2.7 bn currency swap deal with China
Egypt has reached a currency swap agreement with China valued at $2.7 billion, according to a Central Bank of Egypt…
Egypt cancels treasury bill auctions signalling more moderate rate hike
October 31, 2016
Egypt cancels treasury bill auctions signalling more moderate rate hike
Egypt cancelled its three and nine month treasury bill auction on Sunday, data from the central bank showed, confounding market…
US dollar hits LE18 on black market as govt mulls official devaluation
October 31, 2016
US dollar hits LE18 on black market as govt mulls official devaluation
The US dollar continued its steep rise on Egypt's black market on Sunday, breaking the LE18 barrier for the first…
FEDCOC calls for halt to importation of non-essential goods
October 30, 2016
FEDCOC calls for halt to importation of non-essential goods
The Federation of Egyptian Chambers of Commerce (FEDCOC) has called for a rationalization of imports over the next three months,…
Chinese automaker BYD forecasts up to 84 percent profit rise for 2016
October 30, 2016
Chinese automaker BYD forecasts up to 84 percent profit rise for 2016
Chinese automaker BYD Co Ltd (1211.HK) (002594.SZ), backed by Warren Buffett's Berkshire Hathaway Inc (BRKa.N), on Sunday said 2016 full-year…
EU-Canada ready to sign long-delayed trade pact
October 30, 2016
EU-Canada ready to sign long-delayed trade pact
The European Union and Canada were set to sign a landmark trade pact on Sunday, ending days of drama after…
Non-OPEC yet to pledge concrete oil output steps after meeting OPEC
October 30, 2016
Non-OPEC yet to pledge concrete oil output steps after meeting OPEC
Non-OPEC producers made no specific commitment on Saturday to join the Organisation of the Petroleum Exporting Countries in limiting oil…
Egypt tourism in limbo a year after Russian plane bombing
October 30, 2016
Egypt tourism in limbo a year after Russian plane bombing
A year after jihadists bombed a Russian plane carrying holidaymakers in Egypt, tourism shows little sign of recovery in the…
OPEC meets non-OPEC nations for oil talks, gets Azeri support
October 29, 2016
OPEC meets non-OPEC nations for oil talks, gets Azeri support
Officials from OPEC and non-member oil producing countries met on Saturday aiming to build support for an OPEC plan to…