#Central Bank of Egypt
Inflation slows to 9.7 percent in January
Annual headline Consumer Price Inflation slowed to 9.66 percent in January, down from 10.13 in December 2014, despite a drop in the…
2 دقيقة قراءة
تصنيف
Economy
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#corruption
Leaked files reveal $3.5 billion in Egyptian funds kept in Swiss HSBC accounts
Leaked files from Swiss HSBC accounts reveal that funds kept hidden by Egyptian citizens and legal entities in Swiss HSBC accounts amount…
3 دقيقة قراءة
#black market
As pound stabilizes, CBE moves against the black market
The Egyptian pound held steady at LE7.53 to the dollar Sunday for the fourth auction in a row, after losing 5.5 percent…
3 دقيقة قراءة
#black market
Watching the pound slide
The Egyptian pound has declined by 5.46 percent against the dollar since January 18, reflecting a clear shift in the Central Bank's policy to keep the rate relatively stable against…
Isabel Esterman
8 دقيقة قراءة
#HSBC
After six months of growth, private sector reports contraction
For the first time since July 2014, Egypt’s non-oil private sector slid into contraction in January, according to HSBC’s Purchasing Manager’s Index.…
2 دقيقة قراءة
#internet use
Nielsen: Consumer confidence up in Egypt
Egypt gained five points on global information firm Nielsen’s fourth quarter consumer confidence index, closing 2014 with a score of 90. Scores…
2 دقيقة قراءة
#Hesham Zaazou
2014 tourism up 27 percent, but below expectation
Tourism revenue rose to US$7.5 billion in 2014, up from US$5.9 billion in 2013, Tourism Minister Hesham Zaazou announced Sunday. According to…
2 دقيقة قراءة
#Ain Sokhna
Deal finalized to place gas import terminal in Ain Sokhna
After two years of negotiations, the Petroleum Ministry has finalized an agreement to dock a floating natural gas import terminal at the…
2 دقيقة قراءة
#Central Bank of Egypt
Central Bank continues to allow the pound to slide
After almost eight months of holding the pound steady at LE7.14 to the US dollar, Egypt’s Central Bank has allowed the official exchange…
3 دقيقة قراءة
#Mahalla
Mahalla textile workers strike for 3rd day over unpaid bonuses
Hundreds of workers from the Mahalla Textile Company completed their third day of strikes on Thursday as they continue to demand their overdue…
4 دقيقة قراءة
#budget deficit
Egypt signs US$400 mln in oil and gas contracts
Egypt signed six new agreements for oil and gas exploration in the Western Desert and the Gulf of Suez this week. Worth a total…
3 دقيقة قراءة
#agriculture
Subsidy removal will ‘break the backs of cotton farmers’
The government has eliminated cotton farming subsidies, Agriculture Minister Adel al-Beltagy announced on Sunday, warning farmers they would be responsible for securing their own contracts to sell the crop to…
Isabel Esterman
5 دقيقة قراءة
#Central Bank of Egypt
Foreign reserves drop to US$15.33 bln in December
Egypt's foreign reserves have dropped yet again, plummeting to US$15.33 billion at the end of December, the Central Bank of Egypt (CBE) announced Tuesday.…
2 دقيقة قراءة
#budgets
98% drop in aid prompts widening deficit
Despite a jump in tax revenues, a dramatic fall in grants paired with spending increases led to a deficit of 4.6 percent of…
3 دقيقة قراءة
#BG Group
Egypt starts paying off debts to Dana Gas, BG Group
The Egyptian government has made a payment of US$60 million to the United Arab Emirates-based company Dana Gas, an amount representing 28…
2 دقيقة قراءة
#budget deficit
Egypt’s current account slides to US$1.4 bln deficit
Egypt’s current account registered a deficit of US$1.4 billion from July to September 2014, compared to a surplus of US$609.6 million during the…
2 دقيقة قراءة
#Beltone Financial
EGX lists first Exchange Traded Fund
The Egyptian Exchange approved the listing of the country’s first Exchange Traded Fund certificates on Wednesday. The fund will trade like an…
1 دقيقة قراءة
#Bisco Misr
Abraaj pulls out of Bisco Misr bidding
Abraaj Group, an equity firm based in the United Arab Emirates, announced Wednesday that it is pulling out of the bidding process…
2 دقيقة قراءة
#economic competitiveness
Deadline extended for Bisco Misr takeover bids
Cereal manufacturer Kellogg’s and UAE-based equity firm Abraaj have been in a bidding war that has pushed the company’s value above LE1…
2 دقيقة قراءة
#corruption cases
French power company pleads guilty in Egypt bribery case
French power and rail transport firm Alstom pleaded guilty to bribery charges last week, agreeing to pay a US$772 million fine to…
5 دقيقة قراءة
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