Economy
Egypt’s balance of payments turns into deficit of US$410 million: CBE data
April 9, 2024
Egypt’s balance of payments turns into deficit of US$410 million: CBE data
The decline in remittances from Egyptians abroad and the decline in petroleum exports has led to the Egyptian balance of…
After a 12-year hiatus, Misrayon & Polyester Fiber Company resumes exports
April 9, 2024
After a 12-year hiatus, Misrayon & Polyester Fiber Company resumes exports
The Misrayon & Polyester Fiber Company in Kafr al-Dawar city managed to export the first shipment of its production for…
Gold prices in Egypt rise locally on Thursday
April 4, 2024
Gold prices in Egypt rise locally on Thursday
The price of 21-karat gold reached LE 3,110 in jewelry stores across Egypt. The global price of gold has been…
IMF Official Lauds Serious Reforms To Enhance Financial Stability In Egypt
April 4, 2024
IMF Official Lauds Serious Reforms To Enhance Financial Stability In Egypt
Alex Segura-Ubiergo, the IMF’s Resident Representative in Egypt, lauded serious reforms introduced by the Egyptian government to enhance financial stability…
Egyptian concessions on foreign currencies now at LE8 billion
March 31, 2024
Egyptian concessions on foreign currencies now at LE8 billion
Three exchange companies affiliated with Egypt’s largest government banks – the National Bank of Egypt (Al-Ahly Exchange), Banque Misr (Misr…
IMF Executive Board approves expanded US$8 billion loan to Egypt
March 30, 2024
IMF Executive Board approves expanded US$8 billion loan to Egypt
The Executive Board of the International Monetary Fund (IMF) on Friday completed the first and second reviews of the extended…
National Bank of Egypt intends to invest five billion LE this year
March 27, 2024
National Bank of Egypt intends to invest five billion LE this year
The National Bank of Egypt, the largest government bank in Egypt, intends to invest up to five billion LE during…
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
March 23, 2024
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
The Egyptian Group for Multi-Purpose Terminals Company (EGMPT), the commercial arm of the Egyptian Transport Ministry for maritime transport and…
Egypt allocates over US$12 billion to support citizens in new budget
March 20, 2024
Egypt allocates over US$12 billion to support citizens in new budget
The Egyptian government has allocated LE596 billion (US$12.66 billion) to the support system, as part of the upcoming draft budget…
Standard & Poor’s raises its outlook for Egypt from stable to positive
March 19, 2024
Standard & Poor’s raises its outlook for Egypt from stable to positive
The Standard & Poor’s credit rating agency upgraded Egypt’s outlook from stable to positive, affirming its rating at B-. Standard…