In devotion of Robert Springborg’s description of Egypt as “beggar state”, with respect to reliance on foreign support, South Korea announces it will lend Egypt $1bn, as soft loan South Korea has announced that it [ More … ]
Saudi Arabia has deposited $3 billion each in the Central Bank of Egypt, according to the Saudi Press Agency (SPA). The SPA Monday report cited a statement by the Saudi Finance Ministry, saying that Riyadh [ More … ]
Annual core inflation computed by Central Bank of Egypt records 6.4% in July 2021 Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the annual rate of urban inflation rose to 5.4% [ More … ]
Turkey’s lira currency had reached to new all-time lows after president Erdogan called for interest rate cuts in the next two months and said he spoke to the central bank’s new governor about it. “I [ More … ]
The agreement was signed in Tehran last Saturday by Iran’s Foreign Minister Mohammad Javad Zarif and China’s Foreign Minister Wang Yi. Wang, who touched down in Tehran on Friday for a two-day visit as part [ More … ]
Saudi Arabia’s crown prince says oil firm Aramco and petrochemical firm SABIC will lead investments of five trillion riyals ($1.3 trillion) by the country’s private sector by 2030 under an economic diversification programme. The move, [ More … ]
Sisi’s regime has decided to sell the bulk of government procured COVID-19 vaccines, rather than provide them for free. BY; MAGED MANDOUR The two-dose Astra Zeneca inoculation will be sold for 100-200 Egyptian pounds (EGP), though [ More … ]
More than 200 people were arrested after “riots” targeting public and private property in Tunisia, according to an official in the Tunisian Ministry of Interior. An official in the Tunisian Ministry of Interior said yesterday [ More … ]
Turkish President Recep Tayyip Erdogan has vowed to further boost the country’s defense industry “We can never tolerate procuring [defense-related] products from abroad when we can produce them ourselves,” said Turkish President Erdogan at the inauguration ceremony of a new [ More … ]
pledged a new economic growth strategy on Wednesday based on stability, lower inflation “We are building a growth structure which creates qualified employment, which does not cause inflation and a current account deficit,” he said. [ More … ]
Egypt to deduct 1% of state employees’ income for one year amid coronavirus crisis. Egypt’s Prime Minister Mostafa Madbouly approved on Wednesday a draft law cutting the net monthly income all of state employees by [ More … ]
The World Bank Group’s board of directors approved a $50 million loan to Egypt to finance emergency response activities related to the coronavirus (COVID-19) pandemic. Egypt has been eligible to receive $50 million loan, the [ More … ]
A paper the World Bank released last February shows that countries dependent on aid from the organization see increased flows into tax secrecy havens, suggesting that some of its funds are ending up in the wrong hands. [ More … ]
Turkey officials have held talks with Japan and the UK on setting up currency swap lines, sources tell Reuters. The recently embattled Turkish lira edged up on Friday and held gains from late Thursday following reports that [ More … ]
Talks began on Wednesday with Lebanon seeking a multi-billion-dollar bailout to avoid bankruptcy. Lebanon’s leaders are seeking a financial lifeline from the International Monetary Fund. Talks began on Wednesday with Lebanon seeking a multi-billion-dollar bailout [ More … ]
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