Amid a major hard currency crisis in Egypt the North African country is suffering a massive backlog across the country’s ports, with goods worth $9.5 billion are still stuck there. The Egyptian ports have recently [ More … ]
Egypt’s revenues from Suez Canal trade recorded a three-year low in February after registering $375.8 million compared to $401.4 million the same month last year, according to data from the Suez Canal Authority published by [ More … ]
Commenting on the vvisit of Football Legend Lionel Messi to Egypt, the Egyptian people said, “We are ‘too poor’ to bear the costs of such visit,” which the government claimed it was a move to promote [ More … ]
British companies have arrived in Cairo and Alexandria to explore investment deals, many of them for the first time in what the British embassy describes as “one of the UK’s biggest trade delegation to date.” [ More … ]
Tarek Amer, the governor of the Central Bank of Egypt (CBE) told a parliament’s economic committee that foreign exchange revenues from tourism has declined from $11 billion in 2011 to $3.4 billion in 2016. In [ More … ]
Egypt’s Finance Minister Amr El-Garhy said that Egypt will make further cuts to energy subsidies, raise taxes and seek more international financing as it pursues economic reforms this year. In a press conference in Cairo, [ More … ]
While Egypt is striving to revive tourism to rescue its wrecked economy, Egypt’s Minister of Immigration and Expatriates Affairs Nabila Makram said in an interview with al-Ghad T.V,”We don’t need now the foreign tourist, but we [ More … ]
Abdel Fattah al-Sisi has pledged to carry out mega projects for the Egyptians , but nothing remained from these promises except the statements found in the scraps of newspapers and the web, which proved in the last few [ More … ]
Egypt received the first $1 billion tranche of a three-year $3 billion loan from the World Bank to fund government plans to boost growth, according to Bloomberg. Egypt’s Minister of International Cooperation Sahar Nasr said [ More … ]
It seems that only in Egypt’s al-Sisi, nothing goes on the right track even “art”! A sculpture that appeared in one of the squares of an Upper Egyptian governorate in Egypt has raised many angry comments on the [ More … ]
Egypt’s external debt would reach $53.4 billion if it received an international Monterey Fund (IMF) loan said Egypt’s finance minister said in a television interview, according to Reuters. Egypt announced last week that it was [ More … ]
Egypt’s Navigation Lines Agencies held an emergency negotiating session to discuss the decision of “CMA CGM” company in Egypt to collect Terminal Handling Charges in hard currency instead of Egyptian pound from their importers and exporters [ More … ]
The Egyptian pound continues its decline in black market trading, with speculations that policy makers will weaken the official exchange rate to end the country’s shortage of foreign currency, reported Bloomberg. According to the average quote [ More … ]
Moscow has asked for Russian officers to deploy at Egyptian airports in return for resuming flights to Egypt, which have been suspended since a Russian jet crashed over Sinai. A senior official at the Egyptian [ More … ]
The Central Bank of Egypt’s Governor Tarek Amer considered the focus on defending the Egyptian pound over the past five years was a “grave mistake,” signaling the possibility of another devaluation after he weakened the [ More … ]
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