foreign reserves
Pound weakens to new record low
Business
February 13, 2013
Pound weakens to new record low
The Egyptian pound weakened to a record low against the US dollar in interbank trade and slid further still on…
Moody’s cuts Egypt, cites unrest and IMF doubt
Business
February 12, 2013
Moody’s cuts Egypt, cites unrest and IMF doubt
Ratings agency Moody's cut Egypt's credit rating on Tuesday, citing doubts about its ability to secure International Monetary Fund support…
US Ambassador: Egypt’s foreign reserves at critical low
Egypt
February 11, 2013
US Ambassador: Egypt’s foreign reserves at critical low
Saying that "Egypt's numbers paint a bleak picture," US Ambassador to Egypt Anne Patterson said that the country must focus…
IMF postpones loan talks, again
Egypt
February 7, 2013
IMF postpones loan talks, again
The International Monetary Fund has once again postponed negotations on a long-awaited US$4.8 billion loan to Egypt, said a government…
Stock market loses LE3.6 billion Wednesday
Business
February 6, 2013
Stock market loses LE3.6 billion Wednesday
Egyptian stock prices fell Wednesday as investor fears ratcheted up over Egypt's gloomy economic prospects. Shares had dropped nearly LE3.6…
Authorities looking for revenue boost, says planning minister
Business
February 5, 2013
Authorities looking for revenue boost, says planning minister
Minister of Planning and International Cooperation Ashraf al-Araby confirmed Tuesday that Egypt’s foreign cash reserves are enough to cover three…
Central Bank: Foreign reserves at 16-year low
Business
February 5, 2013
Central Bank: Foreign reserves at 16-year low
The Central Bank announced on its website Tuesday that foreign reserves had fallen to US$13.613 billion in January, compared to…
Central Bank cancels currency auction, to announce new mechanism Monday
Business
February 4, 2013
Central Bank cancels currency auction, to announce new mechanism Monday
Egypt's central bank cancelled an auction of foreign currency on Sunday and said it would announce details of upcoming auctions…
Pound dips as weekend violence prompts caution
Business
January 27, 2013
Pound dips as weekend violence prompts caution
The pound weakened against the dollar Sunday, as street violence and deaths added to the political crisis, extending a steady…
Central Bank: US$5 bn in foreign investments left Egypt in six months
Business
January 16, 2013
Central Bank: US$5 bn in foreign investments left Egypt in six months
A total of US$5 billion in foreign investments left Egypt during the last six months, the Central Bank of Egypt…