Business

Maait: Up to LE768 bn transferred to social insurance authority in 52 months

Maait: Up to LE768 bn transferred to social insurance authority in 52 months

Finance Minister Mohamed Maait asserted the state budget allocated more than LE768 billion to the National Authority for Social Insurance,…
CBE launches cash withdrawal from ATMs for InstaPay users soon

CBE launches cash withdrawal from ATMs for InstaPay users soon

The Deputy Assistant Governor of the Central Bank of Egypt for Banking Operations and Payment Systems Ehab Nasr, announced on…
CBE reveals number of InstaPay users & volume of Egyptian transactions

CBE reveals number of InstaPay users & volume of Egyptian transactions

The Assistant Deputy Governor for Payment Systems and Services at the Central Bank of Egypt (CBE) Ehab Nasr, announced that…
Egypt, Saudi Arabia mull over trade exchange in local currencies

Egypt, Saudi Arabia mull over trade exchange in local currencies

Egypt and Saudi Arabia are considering the possibility of using local currencies in part of their trade exchange during the…
Saudi Arabia’s FAS Real Estate to invest US$1.5 billion in Egypt during 2024

Saudi Arabia’s FAS Real Estate to invest US$1.5 billion in Egypt during 2024

Saudi Arabia’s FAS Investment and Real Estate Development, a subsidiary of the Saudi Fawaz Al Hokair Group, aims to pump…
Central Bank of Egypt issues treasury bills worth LE 3 billion

Central Bank of Egypt issues treasury bills worth LE 3 billion

The Central Bank of Egypt on Monday launched treasury bills with fixed and variable returns at a total value of…
Egypt mulls barter trade with other countries: Official  

Egypt mulls barter trade with other countries: Official  

The Head of the Environmental Compliance and Sustainable Development Office at the Federation of Egyptian Industries Sherif al-Gabaly revealed on…
Expectations of unprecedented inflation in Egypt

Expectations of unprecedented inflation in Egypt

The head of Egypt’s sovereign wealth fund Ayman Soliman said that Egypt’s inflation, which has accelerated to record levels, has…
Dollar price in Egypt rises to LE48 up from LE42 last week

Dollar price in Egypt rises to LE48 up from LE42 last week

The price of the dollar rose against the Egyptian pound by at least five pounds, exceeding LE47 according to the…
What does Fitch’s downgrading of Egypt’s credit rating and outlook mean?

What does Fitch’s downgrading of Egypt’s credit rating and outlook mean?

For the second time in six months, Fitch Ratings on Friday moved to reduce Egypt’s sovereign rating for long-term debt…
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