Economy

Naguib Sawiris urges significant devaluation of the Egyptian pound

Naguib Sawiris urges significant devaluation of the Egyptian pound

Egyptian billionaire Naguib Sawiris criticized the delay in implementing the long-awaited devaluation of the Egyptian pound, proposing that authorities match…
IMF determines agreement with Egypt regarding tranches of existing loan and additional financing

IMF determines agreement with Egypt regarding tranches of existing loan and additional financing

The Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), Jihad Azour, said that…
IMF lowers growth expectations for Egypt economy for the 3rd time

IMF lowers growth expectations for Egypt economy for the 3rd time

The International Monetary Fund (IMF) lowered its growth expectations for the Egyptian economy during 2024, while maintaining its expectations for…
IMF reportedly increasing loan to Egypt to US$8 billion: TV host

IMF reportedly increasing loan to Egypt to US$8 billion: TV host

Egyptian TV host Lamis al-Hadidi said on Tuesday during her show “Last Word” (Kalema Akhera) that there is upcoming news…
Bourse posts collective gains at end of Sunday’s transactions

Bourse posts collective gains at end of Sunday’s transactions

CAIRO, Jan 28 (MENA) – Egyptian Exchange (EGX) indexes posted collective gains at the close of Sunday’s trading session backed…
Egypt to offer local currency bonds on Hong Kong Stock Exchange: Minister

Egypt to offer local currency bonds on Hong Kong Stock Exchange: Minister

Egypt has agreed to sign an agreement to prevent double taxation this year, promote the offering of local currency bonds…
Moody’s alters outlook for five Egyptian banks to negative

Moody’s alters outlook for five Egyptian banks to negative

Global credit rating agency Moody’s Investors Service has altered the outlook for five Egyptian banks, bringing their long-term deposit ratings…
Egypt issues official statement revealing reasons behind record rise in gold prices

Egypt issues official statement revealing reasons behind record rise in gold prices

The Gold, Jewelry and Precious Metals Division of the Chamber of Mineral Industries of the Federation of Egyptian Industries issued…
CIB raises the interest rate on triple option CDs to 22 percent

CIB raises the interest rate on triple option CDs to 22 percent

The Commercial International Bank (CIB) has raised the interest rate on the triple option certificate of deposits to 22 percent…
Egypt responds to Moody’s changing its future outlook to negative

Egypt responds to Moody’s changing its future outlook to negative

Egypt’s Finance Ministry assured that the government is working to manage macroeconomic risks with flexibility to contain successive external shocks,…
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