When the Egyptian government signed an agreement with the International Monetary Fund in November 2016, it committed to the all-too-familiar austerity measures of subsidy cuts and tax hikes, in addition to the flotation of the [ More … ]
Egypt’s Beltone Financial said that they expect the Central Bank of Egypt (CBE) will float the pound “within hours,” considering the al-Sisi’s recent meeting with the CBE governor as a “final political endorsement” of the decision. Beltone [ More … ]
The Central Bank of Egypt will likely raise its key borrowing costs to the highest level in more than a decade, as it tries to curb surging consumer prices amid growing speculation of another currency [ More … ]
KLM Royal Dutch Airlines announced a shocking news that it has decided to temporarily suspend flights to Cairo effective on 8 January 2017 as a result of “economic reasons”, said Al-Watan, an Egyptian independent newspaper. [ More … ]
The Ministry of International Cooperation said that Egypt is expecting to sign agreements with the European Investment Bank worth EUR575 million in the second half of October. According to a statement by the ministry citing [ More … ]
The UAE has agreed to pour Egypt’s central bank with a $1bn deposit for a duration of six years in a new show of support for Abdel Fattah al-Sisi, reported the BBC. Emirates News Agency [ More … ]
Despite the slogans that were chanted during January 25 Revolution in 2011 calling for ” bread, freedom and social justice”, however, Egypt is still living in what was called by Reuter’s Fortune as “The Economic Winter”. Egypt [ More … ]
The Egyptian economy is going through its worst fall for decades. Over the past five years, the Central Bank of Egypt has been suffering from declining foreign currency reserves as a result of the withdrawal [ More … ]
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