Economy

Egypt’s annual inflation rate rises to 39.7%

Egypt’s annual inflation rate rises to 39.7%

The Central Agency for Public Mobilization and Statistics (CAPMAS) in Egypt announced that the annual inflation rate rose to 39.7…
Politician proposes selling state-owned sports clubs to pay off Egypt’s debts

Politician proposes selling state-owned sports clubs to pay off Egypt’s debts

The representative of the Free Egyptians Party at the National Dialogue, Mohamed Khalil Badra, proposed selling state-owned assets such as…
Egypt’s currency expected to be devalued after presidential elections

Egypt’s currency expected to be devalued after presidential elections

Former Assistant Finance Minister Sherine al-Shawarby on Tuesday announced that a new devaluation for the Egyptian pound is expected after…
Eni plans to inject US$7.7 billion towards new investments in Egypt

Eni plans to inject US$7.7 billion towards new investments in Egypt

Italian company Eni plans to inject upwards of US$7.7 billion into new investments in Egypt during the next four years,…
British Petroleum plans to invest $3.5 bln in Egypt’s oil and gas sector

British Petroleum plans to invest $3.5 bln in Egypt’s oil and gas sector

British Petroleum (BP) announced that it plans to invest about US$3.5 billion into the Egyptian oil and gas sector over…
Egypt’s stock market hits highest historical peak ever, gaining LE 16.6 billion

Egypt’s stock market hits highest historical peak ever, gaining LE 16.6 billion

The Egyptian stock exchange ended Sunday’s trading at its highest historical peak ever, with market capital profit totaling LE 16.6…
Expert reveals the steps BRICS can take to reduce the US dollar’s dominance

Expert reveals the steps BRICS can take to reduce the US dollar’s dominance

Banking expert and former vice-president of Banque Misr, Sahar al-Damaty said that cooperation with the BRICS will require new foundations…
The impact of a unified BRICS currency on the US dollar and Egypt’s economy

The impact of a unified BRICS currency on the US dollar and Egypt’s economy

The BRICS bloc on Thursday has invited six countries, including Egypt, to join starting January 2024. The bloc, which comprises…
NBE, Banque Misr offer new dollar certificates

NBE, Banque Misr offer new dollar certificates

Banque Misr and the National Bank of Egypt are now offering up new US dollar savings certificates, characterized by high…
Apache plans to invest US$1.4 billion in Egypt

Apache plans to invest US$1.4 billion in Egypt

Prime Minister Mostafa Madbouly held a meeting on Sunday at the government headquarters in the New Administrative Capital with officials…
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