News
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Egypt central bank liberalizes exchange rate
The exchange rate will be set by “supply and demand,” Amer said.
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Egypt government raises price of subsidised sugar
This is the third time the minister has upped the price of sugar.
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Indian tea delegation in Egypt to enhance trade ties
The Tea Board of India is a government body tasked with the regulation of tea cultivation and promotion of tea.
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Egypt PM says central bank to fix currency crisis soon
Egypt’s economy has been suffering from a shortage of hard currency that officials have said a $12 billion loan from the IMF would help solve.
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Will Egypt's new marketing campaign in Italy bring tourists back?
The marketing effort in Rome starts in November and is part of three-month campaign across Europe implemented by marketing firm J. Walter Thompson.
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Sisi says military economy is 1.5% of Egypt’s GDP, but how accurate is this?
Analysts raise concerns over lack of transparency regarding the economic activities of the Armed Forces.
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Egypt stock exchange head says longer suspension of capital gains tax will spur more investment
The decision was a surprise to the market and everyone ... but a pleasant surprise ... The tax had a negative impact, Omran said.
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Asian Diplomats' spouses to hold crafts bazaarin Egypt
As customary, the Asian embassies will sell traditional hand-made products and the food for which their countries are famous.
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Egypt's parliament renames state agricultural bank, putting it under CBE
There are currently 7941 farmers struggling to pay their installments, owing the Cairo-based bank around EGP 365 million in debt.
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After Saudi halts oil shipments, Egypt turns to Iraq deal
Egypt's oil ministry has signed a memorandum of understanding with its Iraqi counterpart to pave the way for Egypt to import oil from Iraq.
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Misr Financial contracts with Hermes, HSBC to offer Banque du Caire share on EGX
The CBE also plans to offer 20% of its shares from the Arab African International Bank (AAIB) in the EGX, as well as offering the United Bank for sale
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Suez Canal Authority doing everything right to transform Egypt’s ailing economy
Experts: The now dual carriage waterway had the potential to become the epicenter of a new “Dubai” scale maritime hub.
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Egypt's staple foodstuff sufficient for 5-6 months
Egypt has been suffering from a shortage of certain basic foodstuff, including sugar and rice, due to an acute dollar shortage.
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Singapore firm PIL opens Egypt logistics hub
About 60km east of Cairo is a gleaming new 20,000 sq m logistics centre that can store goods from high-tech electronics to food.
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Rapid currency slide chokes business in Egypt
Factories are halting production, shops are running low on stocks and a sense of panic is spreading.
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IMF’s Lagarde says there is a ‘crisis’ in Egypt’s currency market
Egypt is turning to the IMF as it seeks to restore investor confidence in an economy that’s been undermined by persistent political unrest.
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Egypt’s military economy ‘only 1-1.5 percent of GDP’
The size of the military which produces everything from bottled water to macaroni, has been a topic of speculation but official comments are rare.
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Egypt rises to 122 in World Bank's 2017 Doing Business report
Egypt merged procedures at the one-stop shop with a follow-up unit for liaising with the tax and labor authority on behalf of the companies.
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Russian wheat export prices up on Egypt's demand
Egypt's state grain buyer acquired 120,000 tonnes of Russian wheat on October 20 in its third tender since the start of October.
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Egypt's Suez Canal sees revenue up 4pct in August
The canal authority is considering an initiative that would have container shippers pay tolls in advance.