Central Bank of Egypt (CBE)

Sukari Mining, CBE hold barter agreement, increasing gold reserves
Egypt

Sukari Mining, CBE hold barter agreement, increasing gold reserves

The Sukari Mining Company in the Red Sea governorate implemented in February a barter agreement with the Central Bank of…
Egypt govt mulls establishing new public transport company
Egypt

Egypt govt mulls establishing new public transport company

Egypt Prime Minister Sherif Ismail discussed on Monday with the Governor of the Central Bank, Transport, Local Development ministers, and…
Egypt negotiates with Saudi Arabia, Kuwait to extend deposit maturity
Business

Egypt negotiates with Saudi Arabia, Kuwait to extend deposit maturity

Egypt is negotiating with Saudi Arabia and Kuwait to extend the maturity of deposits for a new term, high-level government sources…
Over LE100 bn in cash flows since flotation of the pound: CBE governor
Business

Over LE100 bn in cash flows since flotation of the pound: CBE governor

The volume of cash flows into the Egyptian economy since the flotation of the pound in November 2016 has exceeded…
Egypt’s foreign reserves jump to $38.2 bln in January
Business

Egypt’s foreign reserves jump to $38.2 bln in January

The Central Bank of Egypt (CBE) on Sunday said that foreign currency reserves rose by $1.2 billion to $38.209 billion…
Fitch Ratings raises Egypt’s financial outlook to ‘positive’
Business

Fitch Ratings raises Egypt’s financial outlook to ‘positive’

Fitch Ratings Inc., one of the three biggest credit rating agencies in the world, raised Egypt’s long-term Foreign-Currency Issuer Default…
Meet Rania Mashat, Egypt’s first female Tourism Minister, set to revolutionize the industry
Egypt

Meet Rania Mashat, Egypt’s first female Tourism Minister, set to revolutionize the industry

Prime Minister Sherif Ismail’s latest cabinet changes took a step towards female empowerment, with two of the four newly-appointed ministers…
Annual inflation rate declines by 0.2%, lowest since November 2015: CAPMAS
Egypt

Annual inflation rate declines by 0.2%, lowest since November 2015: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) stated on Wednesday that the annual inflation rate declined by 0.2…
CBE warns against Bitcoin transactions
Egypt

CBE warns against Bitcoin transactions

The Central Bank of Egypt (CBE) warned against using virtual currencies, namely Bitcoin, due to the high risks involved, describing…
Foreign currency reserves rose to record-high $37.19 bn in December 2017: CBE
Economy

Foreign currency reserves rose to record-high $37.19 bn in December 2017: CBE

Egypt’s net foreign currency reserves climbed to an all-time high of $37.19 billion in December 2017, the Central Bank of Egypt (CBE)…
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