Economy
Four US investment banks offer support for London after Brexit vote
July 7, 2016
Four US investment banks offer support for London after Brexit vote
Four U.S. investment banks promised British finance minister George Osborne on Thursday that they would try to help London keep…
Bank of England eases rules for banks to meet Brexit challenge
July 5, 2016
Bank of England eases rules for banks to meet Brexit challenge
The Bank of England took steps on Tuesday to ensure British banks keep lending and insurers do not dump corporate…
Egypt surges on expectations of currency devaluation
July 5, 2016
Egypt surges on expectations of currency devaluation
Cairo's main stock index rose 2.9 percent on Monday on expectations of a further currency devaluation this fiscal year, while…
Egypt’s foreign reserves edge up to US$17.546 bln at end of June
July 5, 2016
Egypt’s foreign reserves edge up to US$17.546 bln at end of June
Egypt's net foreign reserves rose slightly to US$17.546 billion at the end of June, the central bank said on Monday.…
Oil climbs as market seen in balance, but slow demand weighs
July 4, 2016
Oil climbs as market seen in balance, but slow demand weighs
Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although…
Bank of Israel buying ‘hundreds of millions’ of dollars: sources
July 4, 2016
Bank of Israel buying ‘hundreds of millions’ of dollars: sources
The Bank of Israel bought "hundreds of millions" of dollars of foreign currency on Monday, dealers said, after the shekel…
Egypt reduces arrears owed to foreign oil companies to US$3.4 bln
July 4, 2016
Egypt reduces arrears owed to foreign oil companies to US$3.4 bln
Egypt has reduced the arrears it owes foreign oil companies to US$3.4 billion in 2015/16 from $3.5 billion a year…
Egypt to finish re-count of local wheat in private silos in a month
July 3, 2016
Egypt to finish re-count of local wheat in private silos in a month
Egypt's Supply Minister said on Sunday a re-count of wheat in privately held silos would be finished in less than…
Egypt’s current account deficit at US$14 bln in first nine months of 2015/16
July 3, 2016
Egypt’s current account deficit at US$14 bln in first nine months of 2015/16
Egypt's current account deficit almost doubled in the first nine months of 2015/16 to US$14 billion from $8 billion in…
Egypt in talks with UAE over US$500 mln grant
July 3, 2016
Egypt in talks with UAE over US$500 mln grant
The government is negotiating with the United Arab Emirates a US$500 million non-refundable grant to finance several developmental projects, including…