News
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Government to extend rice export ban to secure local market needs
farmers refuse to sell their crops at low prices to gov. which turns to import Indian rice while private rice mills buys at high prices.
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Egypt’s stock market gains EGP 4.7 bln
This was due to gains supported by foreign investors buying operations، and by Egyptian and Arab investors tended towards selling operations.
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Egypt investment bank gets brokerage licence
EFG-Hermes has been licensed to operate a stockbroker unit in Kenya with an eye on an investment bank permit.
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Abu Dhabi fund grants $1bn for projects in Egypt UAE Business
The funded projects spanned over diverse sectors, transport, housing, agriculture and irrigation, energy, industry and mining, education & healthcare.
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Moody says IMF review is 'credit positive' for Egypt
The IMF's executive board completed the first review of a $12 billion loan to Egypt, disbursing the final instalment of $1.25 billion.
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Egypt's Sisi inaugurates largest military base in Mideast
The President raised the Armed Forces flag at the new Mohamed Naguib base in el Hammam city, west of Alexandria.
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Interest rates stir new wave across auto market
Car companies expected a drop in sales due to pressure from the Central Bank's decision to raise the benchmark interest rate for 2nd time in 2 months.
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Egypt agricultural exports up 12.1 pct in first half 2017
Exports increased in citrus, potatoes, grapes, and strawberries, and fell only for onions.
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US dollar exchange rate relatively declines Wednesday
The rate went down to LE17.90 for purchase and LE18 for sale at al-Baraka Bank, the Commercial International Bank (CIB) and National Bank of Greece.
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Egypt receives final $1.25 bln in first tranche of IMF loan
According to an informed source at the CBE, the bank received the installment on Tuesday.
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Average yields on Egypt's five- and 10-year T-bonds rise
The average yield on the five-year bonds rose to 18.934 on Monday from 18.349 at the last similar auction on June 19.
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US dollar exchange rate surpasses LE18
The rates at the National Bank of Egypt (NBE) are LE17.82 for purchase and LE17.92 for sale.
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Egypt’s GASC seeks wheat for Aug. 21-31 shipment
Tenders should reach GASC by noon local time (1000 GMT) on Tuesday.
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Egypt to open new areas in Red Sea for oil, gas exploration
Discussions about the establishment of a petrochemical factory in the Suez governorate at a cost of 4 million U.S. dollars.
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Egypt completes 13,000 social housing units
The Egyptian ministry has also completed utilities and electricity works for the units.
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IMF chief praises Egypt's measures on economic reforms
The head of the International Monetary Fund has praised Egypt's reform measures, saying they will set the country on "a path of stability."
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Egypt Economy to recover in 2018 with expected inflation hikes
A gradual recovery in the economy is expected in 2018, with 2017 being difficult but paving the way for a better year: Arqaam Capital.
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Abu Dhabi’s Etihad to increase flights to Egypt
Airline sees increased flights as ‘timely’ with resurging economy in Egypt.
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Egypt, Turkmenistan not ready to join oil production cut deal
OPEC and non-OPEC countries extended the oil production limiting agreement for nine months until March 2018 on May 25.
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Egypt sees rice paddy production jumping to 6.5mn tonnes
Egypt's strategic rice reserves are set to rise to about 12 months worth within 10 days from a current level of four months' supply.