economy
Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors
Business
December 3, 2016
Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors
Egypt's largest listed lender CIB sold a near-72 percent stake in its investment banking arm CI Capital to Egyptian and…
Kuwait to supply Egypt with 2 million barrels of oil a month
Business
November 16, 2016
Kuwait to supply Egypt with 2 million barrels of oil a month
Egypt's state news agency says Kuwait has agreed to supply Egypt with 2 million barrels of crude per month, starting…
No quick portfolio inflows due to Egypt devaluation, fund managers say
Business
November 6, 2016
No quick portfolio inflows due to Egypt devaluation, fund managers say
Egypt's currency devaluation may eventually bring foreign money into the country, but fund managers say uncertainty about the economy means…
Egypt cancels treasury bill auctions signalling more moderate rate hike
Business
October 31, 2016
Egypt cancels treasury bill auctions signalling more moderate rate hike
Egypt cancelled its three and nine month treasury bill auction on Sunday, data from the central bank showed, confounding market…
FEDCOC calls for halt to importation of non-essential goods
Business
October 30, 2016
FEDCOC calls for halt to importation of non-essential goods
The Federation of Egyptian Chambers of Commerce (FEDCOC) has called for a rationalization of imports over the next three months,…
External debt rose by 16% in 2015-2016: CBE
Egypt
October 26, 2016
External debt rose by 16% in 2015-2016: CBE
The Central Bank of Egypt (CBE) said on Wednesday that external debt rose by $7.7 billion by the end of…
Italy warns of disaster if Europe rejects its budget: paper
Business
October 23, 2016
Italy warns of disaster if Europe rejects its budget: paper
Italy's economy minister said on Sunday the European Union must choose between allowing Rome to raise its deficit to cope…
Britain’s banks to reveal solid third-quarter results, warn of Brexit storm ahead
Business
October 23, 2016
Britain’s banks to reveal solid third-quarter results, warn of Brexit storm ahead
Britain's major banks are set to report stronger-than-expected results this week, confounding expectations that political and economic upheaval caused by…
Egypt’s annual inflation drops to 14.6% in September: CAPMAS
Business
October 10, 2016
Egypt’s annual inflation drops to 14.6% in September: CAPMAS
Egypt's annual inflation rate dropped to 14.6 percent in September down from 16.4 percent in August, the state statistics agency…
Egypt to boost subsidies on household goods to balance currency devaluation
Egypt
October 4, 2016
Egypt to boost subsidies on household goods to balance currency devaluation
The Egyptian government is planning to increase subsidies on household goods to prevent soaring prices resulting from an imminent currency…