Egypt: Inflation to go above 10%, IMF
The International Monetary Fund has voiced out its observations about Egypt, citing that inflation will rise to 10,9% this year; thereby surpassing the previous estimation […]
Egypt
Egyptian pound settles for a another new record
The Egyptian pound has strike a new low against the US dollar, after official exchange rates reached LE7, a rate unseen since 2003, in commercial […]
Suez Canal investment project launched
Prime Minister Hesham Qandil has pointed out that the government is willing to offer some areas around the Suez Canal for investment projects, but it […]
Egypt: Islamists keep tourism orthodox
Tourism minister, Hisham Zaazou, said the government still has “optimistic goals” for tourism and welcomes visitors who can drink alcohol and wear bikinis during their […]
Bank Asset sales lure investors back to Egypt
The National Bank of Egypt (NBE) and Banque Misr have made clear their desire to sell their foreign assets, prompting investors to term the Egyptian […]
The sinking of Egypt’s currency
The Egyptian pound is still going through its worst period after reaching a new all-time low against the United States dollar at an average of […]
Egypt: Central bank holds special auction
The obligation to provide basic imported commodities has forced the Egyptian central bank to auction $600 million. Despite such an amount, foreign exchange dealers believe […]
Egypt and the IMF: towards a bigger loan?
The update given by the Egyptian Planning Minister after talks with the International Monetary Fund has raised eyebrows. Minister Ashraf El-Araby described the talks as […]
Libya, Egypt & Sudan Mull Setting Up Mining Fund
Libya, Egypt & Sudan are considering the possibility of setting up a joint mining fund destined to finance projects in Arab countries and to study […]
Egypt: European MPs Tie Financial Support to Democracy, IMF Loan not Coming yet
While Egypt is in dire need of foreign assistance to take up the various challenges triggered by the severe downturn of its economy, Members of […]