Economy

Egypt to offer local currency bonds on Hong Kong Stock Exchange: Minister

Egypt to offer local currency bonds on Hong Kong Stock Exchange: Minister

Egypt has agreed to sign an agreement to prevent double taxation this year, promote the offering of local currency bonds…
Moody’s alters outlook for five Egyptian banks to negative

Moody’s alters outlook for five Egyptian banks to negative

Global credit rating agency Moody’s Investors Service has altered the outlook for five Egyptian banks, bringing their long-term deposit ratings…
Egypt issues official statement revealing reasons behind record rise in gold prices

Egypt issues official statement revealing reasons behind record rise in gold prices

The Gold, Jewelry and Precious Metals Division of the Chamber of Mineral Industries of the Federation of Egyptian Industries issued…
CIB raises the interest rate on triple option CDs to 22 percent

CIB raises the interest rate on triple option CDs to 22 percent

The Commercial International Bank (CIB) has raised the interest rate on the triple option certificate of deposits to 22 percent…
Egypt responds to Moody’s changing its future outlook to negative

Egypt responds to Moody’s changing its future outlook to negative

Egypt’s Finance Ministry assured that the government is working to manage macroeconomic risks with flexibility to contain successive external shocks,…
‘A tough new year for Egypt’ – Moody’s expects significant economic pressures

‘A tough new year for Egypt’ – Moody’s expects significant economic pressures

The Moody’s credit rating agency anticipates that Egypt will face significant pressures in 2024 for both debt and financial liquidity.…
Dollar rates stable at start of Monday’s transactions in Egypt’s major banks

Dollar rates stable at start of Monday’s transactions in Egypt’s major banks

CAIRO, Jan 15 (MENA) – The dollar exchange rate was stable at the start of Monday’s transactions at Egypt’s major…
Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation

Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation

Capital Economics, an independent economic research business based in the UK, noted that Egypt’s agreement with the International Monetary Fund…
Proceeds of new CDs exceeded LE 32 billion in 3 days

Proceeds of new CDs exceeded LE 32 billion in 3 days

A banking source revealed that the proceeds of the new certificates of deposits at the National Bank of Egypt and…
Expert explains Egyptian state’s economic plans up to 2030, including US dollar exchange rate

Expert explains Egyptian state’s economic plans up to 2030, including US dollar exchange rate

The assistant to the Prime Minister and Head of the Information and Decision Support Center at the Egyptian Cabinet (IDSC),…
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