Finance News
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Egypt's pound steady after earlier depreciation
Egypt's central bank held the Egyptian pound steady at 7.73 pounds to the dollar at a regular forex auction.
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Egypt's domestic debt surpasses two trillion pounds
The central bank statement showed that the balance of bonds and bills reached about 1.7 trillion pounds for the third quarter, which ended in March.
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$520m increase in Egypt’s foreign exchange reserves in June
Reserves were supported by government-issued dollar bonds in the international markets during June.
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Egypt's stock market hits lowest point in over a year
Emaar Misr and the Greek crisis drag Egypt's stock market with the benchmark index EGX 30 dropping by 4.23 percent at closing reaching 7870 points.
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Egypt's central bank governor says pound depreciation not worrying
Ramz: There is nothing to worry about from the dollar's rise. This is a normal movement. It only moved 2.5 percent and this happens in many markets.
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Egypt's market loses LE11.9 billion on Monday, EGX30 falls 4.2%
The EGX market capital lost LE11.9 billion (US$1.5 billion), hitting LE484.19 billion, compared to LE496.1 billion on Sunday.
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Egypt's market gains LE12.2 billion on Sunday, while EGX30 drops 1.2%
The EGX market capital hit LE496.1 billion due to Emaar Misr shares that started trading on Sunday.
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Egypt’s currency drops to new low against the dollar
The dollar was sold at banks at 7.83 EGP on Sunday, 0.10 EGP above the official rate. CBE imposed a daily ceiling for cash deposits in hard currency.
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Total insurance instalments paid stands at EGP 5.7bn by April 2015
Total value of compensations paid in properties insurance has reached EGP 1.3bn, compared to EGP 1.06bn during the same period in 2014.
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7 Things we know about Egypt's 2015/2016 budget
The main features include an increase in expenditure, revenues, growth and a decrease in deficit, subsidies and grants.
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Egypt's market loses LE2.2 bn in a week
The main EGX30 index, small and mid-cap EGX70 index and broader EGX100 index fell by 1.09 percent, 0.99 percent and 0.81 percent, respectively.
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Egypt: Sinai attacks scare investors
Egypt's stock market was heavily affected by the unrest in Sinai and Cairo. The gauge declined becoming the Middle East's worst performer.
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Egypt's central bank lets pound weaken by 1.3%
The depreciation led to a new rate that is sending the currency to its weakest level since auctions began in December 2012.
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Egypt passes new budget for fiscal year 2015-2016
The budget was delivered to the President after the cabinet had approved it in mid-June but the Presidents asked for ammendments.
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Egypt cuts projected deficit to 8.9% in new 2015/2016 draft budget
International credit rating agency Moody's had labelled the previous draft budget as “credit negative” for slowing reform.
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Government targets EGP 262bn loan for budget deficit in Q1 of FY 2015/2016
Ministry of Finance to issue treasury bills with EGP 189.5bn and treasury bonds with EGP 72.5bn between July and September 2015.
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Egypt's budget awaits amendments demanded by Sisi: Source
According to a cabinet statement, the approved proposal targets a 9.9 percent deficit with revenues projected at LE612 bn, expenditure LE431 bn.
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Fawry financial transactions increase by 50% in Q1 of 2015
The company started working through a paid capital worth EGP 77m, of which 75% belonged to Egyptian banks and entities.
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Egypt's bourse closed Tuesday on 30 June anniversary
The market will also be closed on Wednesday for the start of the new fiscal year.
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NBG-Egypt continues activities unaffected by Greek banks’ closure
“We work under the umbrella of the CBE and our clients did not make any withdrawals,” says bank official.