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HomeForeign currency

Foreign currency

Egypt Latest News

Egypt: Economy hit by a ‘catastrophic’ foreign currency crisis

January 2, 2023 MEO Staff

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 Latest News

Suez Canal Revenues Recorded low in February Compared to Last Year

March 27, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

Will Messi’s Visit Rescue the Egyptian Economy?

February 23, 2017 Ahmed Rashed

 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 … ]

Egypt Latest News

One of UK’s Biggest Trade Delegation Arrived in Cairo to Explore Investment Deals

February 13, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

Egypt’s CBE Governor: Foreign Exchange Revenues from Tourism Declined

January 25, 2017 Ahmed Rashed

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 Latest News

Egypt’s Finance Minister: Further cuts to energy subsidies and more taxes this year

January 17, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

Egypt’s Immigration Minister: We Don’t Need Foreign Tourists

December 22, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

The New Administrative Capital, Another Failure In Al-Sisi’s Delusional Mega Projects

October 11, 2016 Ahmed Rashed

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 Latest News

Egypt Receives the First Tranche of the World Bank Loan

September 10, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

In Egypt’s Al-Sisi, Nothing Goes on The Right Track, Even Art!

September 7, 2016 Ahmed Rashed

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 Latest News

Egypt’s External Debt Would Reach $53.4 Billion With IMF Loan

August 1, 2016 Ahmed Rashed

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 Latest News

An Emergency Session to Discuss “CMA CGM” Decision to Collect Terminal Handling Charges in Hard Currency

July 25, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

The Egyptian Pound Continues Its Decline In Black Market Trading

July 20, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

Moscow Asks for Deploying Russian Officers In Egypt’s Airports

July 8, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

CBE Governor: Egypt Is to Witness Further Currency Devaluation

July 4, 2016 Ahmed Rashed

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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Egypt Latest News
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Egypt: Two bloggers arrested and the same accusation ready!

Egypt Latest News
January 30, 2023

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January 29, 2023
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