Fitch’s downgrade comes amid severe pressure on Egypt’s economy
Egypt’s Minister of Finance, Mohamed Maait has commented on Fitch’s decision to downgrade Egypt from B+ to B,…
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coronavirus pandemic
World Bank cuts 2023 economic growth forecasts to 1.7%
The World Bank (WB) slashed its growth forecasts for most countries and regions to 1.7 percent for 2023, compared…
UAB: Egypt has 3rd best banking system in Arab world as for assets, deposits, loans
The Union of Arab Banks (UAB) said that Egypt has third best banking system in Arab world in terms of assets,…
Around $35 billion ‘hot money’ left Egypt since pandemic – minister
Egypt's Finance Minister Mohamed Maait said on Sunday that around $35 billion in short-term investment “hot money”…
Egypt’s economy grew 9.8% in Q1 FY2021-22, highest in two decades – Cabinet
Egypt’s economy grew by 9.8 percent in the first quarter of the financial year 2021-2022, the highest quarterly…
Sisi urges precautions against Covid-19 ahead of new academic year
Egypt's President Abdel Fattah al-Sisi directed on Wednesday that all precautionary measures be taken to protect…
African Reinsurance distributes $3.3mn to fight against coronavirus in Africa
African Reinsurance Corporation (Africa Re) has decided to distribute $3.3. million to support the fight against…
Egyptian insurance sector’s premiums likely to fall 15% in FY21 due to coronavius
The premiums of Egypt’s insurance sector is expected to decline between 15-20 percent within the 2020/2021…
Tesla cuts Model Y SUV price as coronavirus weighs on auto sector
Tesla Inc cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the…
Chinese shares rise 2% as mainland stocks continue to see solid earnings for the week
Asia Pacific shares were mixed on Wednesday as concerns surrounding the coronavirus pandemic continued to linger.
