Economy
IMF Executive Board approves expanded US$8 billion loan to Egypt
March 30, 2024
IMF Executive Board approves expanded US$8 billion loan to Egypt
The Executive Board of the International Monetary Fund (IMF) on Friday completed the first and second reviews of the extended…
National Bank of Egypt intends to invest five billion LE this year
March 27, 2024
National Bank of Egypt intends to invest five billion LE this year
The National Bank of Egypt, the largest government bank in Egypt, intends to invest up to five billion LE during…
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
March 23, 2024
Egypt signs MoU to establish a Turkish logistics industrial zone in Jarjoub
The Egyptian Group for Multi-Purpose Terminals Company (EGMPT), the commercial arm of the Egyptian Transport Ministry for maritime transport and…
Egypt allocates over US$12 billion to support citizens in new budget
March 20, 2024
Egypt allocates over US$12 billion to support citizens in new budget
The Egyptian government has allocated LE596 billion (US$12.66 billion) to the support system, as part of the upcoming draft budget…
Standard & Poor’s raises its outlook for Egypt from stable to positive
March 19, 2024
Standard & Poor’s raises its outlook for Egypt from stable to positive
The Standard & Poor’s credit rating agency upgraded Egypt’s outlook from stable to positive, affirming its rating at B-. Standard…
EU to announce financial package for Egypt totaling 7.4 billion euros: Report
March 17, 2024
EU to announce financial package for Egypt totaling 7.4 billion euros: Report
The Financial Times reported that a large financial package from the European Union (EU) worth 7.4 billion euros may be…
Goldman Sachs expects surplus in foreign financing to Egypt
March 17, 2024
Goldman Sachs expects surplus in foreign financing to Egypt
The Goldman Sachs bank expects a surplus in foreign financing to Egypt worth US$26.5 billion over the next four years,…
Egypt’s government exchange companies earn LE 2.1 billion from foreign currencies
March 16, 2024
Egypt’s government exchange companies earn LE 2.1 billion from foreign currencies
The branches of Al-Ahly Exchange, Misr Exchange, and Cairo Exchange, companies affiliated with the three largest government banks, reaped the…
US dollar exchange rate in Egypt stable on Thursday
March 14, 2024
US dollar exchange rate in Egypt stable on Thursday
The exchange rate of the US dollar price is witnessing a state of relative calm in Egyptian banks on Thursday,…
Moody’s changes rating for 5 Egyptian banks
March 13, 2024
Moody’s changes rating for 5 Egyptian banks
Credit rating agency Moody’s announced on Tuesday that it has changed the ratings and estimates of five internationally ranked Egyptian…