Economy

Moody’s changes rating for 5 Egyptian banks

Moody’s changes rating for 5 Egyptian banks

Credit rating agency Moody’s announced on Tuesday that it has changed the ratings and estimates of five internationally ranked Egyptian…
Germany pledges to make 258 million euros available to Egypt as debt swap: Minister

Germany pledges to make 258 million euros available to Egypt as debt swap: Minister

Egyptian Minister of International Cooperation Rania al-Mashat explained that Egyptian-German developmental cooperation is witnessing remarkable developments, enhancing Egypt’s developmental efforts…
Egypt awaits up to US$6 billion from the European Union

Egypt awaits up to US$6 billion from the European Union

Egypt expects to receive about five to six billion dollars (LE246 to LE296 billion) in funding from the European Union…
Visa and Western Union cooperate to transfer money across 40 countries

Visa and Western Union cooperate to transfer money across 40 countries

Visa announced the signing of a seven-year agreement with Western Union (WU), allowing WU customers to receive money from their…
Egyptian banks adjust withdrawals and purchases limits for cards abroad

Egyptian banks adjust withdrawals and purchases limits for cards abroad

Banks operating in the Egyptian market have begun raising credit card withdrawal limits following orders from the Central Bank of…
Moody’s change to Egyptian economy outlook is a prelude to improved rating: Minister

Moody’s change to Egyptian economy outlook is a prelude to improved rating: Minister

Egyptian Finance Minister Mohamed Maait said that Moody’s changing the future outlook of the Egyptian economy from negative to positive…
Dollar rises against Egyptian pound following CBE’s devaluation of dollar exchange rate

Dollar rises against Egyptian pound following CBE’s devaluation of dollar exchange rate

The price of the dollar rose against the Egyptian pound on Wednesday morning in government and private banks, following several…
The value of Egyptian international bonds rises after the Central Bank’s decision: Reuters

The value of Egyptian international bonds rises after the Central Bank’s decision: Reuters

Egypt’s international bonds increased more than two cents following the Central Bank of Egypt‘s Wednesday decision to raise interest rates…
Egypt allows exchange rate to be determined by market mechanisms: CBE

Egypt allows exchange rate to be determined by market mechanisms: CBE

The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided on Wednesday to allow the exchange rate to…
Egypt plans to increase US dollar proceeds: Official

Egypt plans to increase US dollar proceeds: Official

Egyptian cabinet spokesperson Mohamed al-Hommosany announced that the government has a plan to increase US dollar proceeds by raising investments…
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