The Central Bank of Egypt’s (CBE) Monetary Policy Committee has announced it will postpone a much-anticipated interest rate decision that was scheduled…
Suez Canal revenues declined to US$408.4 million in November, posting year-on-year declines for the tenth month in a row. During the same…
Egypt, which is facing dwindling foreign reserves and a yawning budget deficit, will be getting a major boost this month, thanks to…
The taxi application Uber has announced it will allow Cairo passengers to pay their rides in cash — but with minimum fares rising from LE8 to LE10, riders will be…
As the RiseUp summit, which bills itself as the region’s top entrepreneurship event convenes for its third year in downtown Cairo, the…
In April 2011, when the Arab Spring was still in its first bloom, then-World Bank President Robert Zoellick promised to usher in what he called “a new social contract for…
A new wave of labor unrest has swept Egypt over the past two days as several thousand workers commenced industrial action. Demands include higher wages, workplace parity, the…
Business conditions deteriorated sharply in November, dropping at the fastest pace in more than two years, according to businesses surveyed for the…
Egypt will appeal an International Chamber of Commerce order to pay Israel US$1.76 billion within six weeks for halting gas sales, Prime Minister Sherif Ismail announced, and has also taken measures to halt…
Foreign reserves inched up in November, closing the month at US$16.423 billion compared to $16.415 at the end of October, the Central…
The Central Bank of Egypt plans to increase dollar liquidity in the market and will introduce a special auction to meet the…
The business community has high hopes for new Central Bank of Egypt (CBE) Governor Tarek Amer, but at the close of the first banking day since he officially took the…
Around 5,000 workers are on strike at the Jawhara Food Processing Company over poor wages and three years' worth of unpaid bonuses. Workers began striking…
In a decreee published in Thursday’s Official Gazette, President Abdel Fattah al-Sisi reshuffled the Central Bank of Egypt’s coordination council, appointing former Central…
A batch of new high-yield accounts offered by Egypt’s state owned banks represent a bid by the government to curb inflation, ease demand for the dollar and shore up the…
Egyptian firm Dolphinus Holdings and its Israeli partner Delek Group signed a non-binding letter of intent on Tuesday, confirming that they are…
Egypt’s Ministry of Electricity announced the signing of financing deals for two major electricity projects on Monday. A consortium of banks agreed…
The Suez Canal has posted year-on-year declines for nine months in a row as of October, and global trade metrics suggests the…
«Three years after the first investments arrived in Egypt, Jordan, Tunisia and Morocco from the European Bank for Reconstruction and Development (EBRD), the London lender announced…»
When the US Kellogg Company bought a majority stake in local snack maker Bisco Misr in January 2015, the Egyptian company’s shareholders walked away with around US$125 million. The Kellogg Company,…
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