money
ITFC to provide US$1.5 billion to Egypt during 2023
Economy
January 23, 2023
ITFC to provide US$1.5 billion to Egypt during 2023
Minister of Planning and Economic Development, and Governor of Egypt at the Islamic Development Bank Group, Hala al-Saeed announced that…
CBE cancels fees on bank transfer and mobile wallet
Egypt
December 26, 2022
CBE cancels fees on bank transfer and mobile wallet
The Board of Directors of the Central Bank of Egypt has chosen to exempt customers dealing with electronic payment and…
Limiting use of bank cards abroad prevents manipulation, says Egyptian expert
Egypt
December 26, 2022
Limiting use of bank cards abroad prevents manipulation, says Egyptian expert
Egyptian economist Hani Abul-Fotouh said that the withdrawal of foreign currency from outside the country using Egyptian bank cards is…
Gov’t: IMF’s approval of new support package reflects confidence in Egypt’s ability to meet int’l obligations
Egypt
December 18, 2022
Gov’t: IMF’s approval of new support package reflects confidence in Egypt’s ability to meet int’l obligations
The International Monetary Fund’s (IMF) recent approval of Egypt’s comprehensive national economic reform program is a further confirmation of the…
CBE to receive billion dollars from RSF in January
Business
December 4, 2022
CBE to receive billion dollars from RSF in January
Informed sources said that the loan decided by the Resilience and Sustainability Facility (RSF), of the International Monetary Fund recently…
Soaring food prices in Egypt to ease soon, assure officials
Egypt
December 3, 2022
Soaring food prices in Egypt to ease soon, assure officials
Members of the Egyptian chambers of commerce announced that the soaring prices of several commodities in the Egyptian market is…
‘It changes nothing.’ Nigerians unimpressed with redesigned banknotes
World
November 27, 2022
‘It changes nothing.’ Nigerians unimpressed with redesigned banknotes
Abuja, Nigeria CNN Business — Nigerians have criticized the “redesigning” of the country’s local currency proposed by its central bank…
Crypto crash and gold sell-off show there’s no place for investors to hide
Technology
November 14, 2022
Crypto crash and gold sell-off show there’s no place for investors to hide
New York CNN Business — The spectacular implosion of cryptocurrency exchange FTX, a so-called unicorn startup that was recently valued…
There’s a 98 percent chance of a global recession, research firm warns
World
October 1, 2022
There’s a 98 percent chance of a global recession, research firm warns
New York CNN Business — Warning lights are flashing in the global economy as high inflation, drastic rate hikes and…
CBE raises required reserve ratio from 14% to 18%
Business
September 25, 2022
CBE raises required reserve ratio from 14% to 18%
The Central Bank of Egypt decided on Saturday to raise the required reserve ratio in banks from 14 percent to…