IMF and Egypt reach agreement on loan instalment of $2 billion
Egypt has reached a staff level agreement with the International Monetary Fund for an instalment of around $2…
Browsing Tag
Floating
Egypt government spent $5.65bn over-budget in 2016-17 due to currency float
Egypt’s government spent over 100 billion Egyptian pounds ($5.65 billion) more than it planned to in the 2016-17…
Egypt’s pound shows Nigeria must overcome its fear of floating free – Reuters
A currency devaluation may do little to fix Nigeria's problems unless it follows the examples of emerging market…
Electrolux Egypt: prices increased by 20-25% amid floating pound
Electrolux Egypt increased the prices of its products by 20-25 percent after the move of the Egyptian government to…
Banque du Caire: new certificates of deposit brought in 12bn Egyptian pounds
Egypt’s third biggest bank, state-owned Banque du Caire has received around 12 billion Egyptian pounds (around…
Egypt’s NBE bank sold $220 mln in week to cover imports – v.chairman
Egypt’s biggest lender, the state-owned National Bank of Egypt, provided around $220 million to cover import…
World Bank hails Egypt reforms saying will create job, boost social inclusion
The World Bank welcomed on Friday the Egyptian economic reforms, saying they would create jobs and promote social…
Cairo hopes to finalise IMF loan deal in days – c.bank chief
Egypt hopes to finalise a $12 billion IMF loan programme within days as it has secured pledges worth $16.3 billion…
Local autos prices to jump 50% amid floating Egyptian pound: official
The prices of local and imported automotives would be increased by 50 percent and 15 percent respectively due to…
Egypt’s currency float move to spur foreign investments: market regulator
Egypt’s move to freely float the local pound will contribute to support and boost non-banking financial activities,…
Floating pound is a ‘late’ good step towards reform- Egypt’s FEDCOC
The decision of Egypt's Central bank to float pound against US dollar is a good step towards reform but it came…
All banks can trade forex after Egypt pound ‘historic’ float: CIB chairman
Egypt's "historic" move to freely float the local currency will allow all 39 banks licenced in the country to trade…
Egypt central bank to hold $4 billion auction to cover imports on pound float
Egypt’s central bank will hold Thursday an exceptional auction for $4 billion, senior banking sources told Amwal Al…
Stocks soar following floating Egyptian pound
Egyptian stocks jumped after the central bank said it would allow the currency to float as part of measures…
Business tycoon Sawiris hails Egypt currency floating move
Egyptian business tycoon Naguib Sawiris, chairman of Orascom Telecom Media & Technology (OTMT), has hailed the…
Egypt’s central bank hikes key interest rates by 300 basis points, floats pound…
Egypt's central bank announced Thursday it had hiked interest rates by 300 basis points in a move to rebalance…
Gulf currencies climb on Egypt currency float
Gulf currencies have rallied against the Egyptian pound in massive early trade on Thursday after Egypt’s central…
Egypt’s tender for a third FSRU draws four firms’ attention
Egypt's tender to lease a third floating and storage regasification unit (FSRU) has drawn interest from four…
Egypt to start floating state firms in 3-5 years: minister
Egypt will start floating parts of some state-owned firms on the country’s stock exchange within a timeframe of…
Arab Investment Bank may become 3rd Egypt public bank to seek bourse listing
State-run Arab Investment Bank plans to float some of its shares on Egypt stock exchange, the bank’s chairman Hani…
Dairy maker Domty seeks to raise $140mn by floating shares in Cairo bourse
Egypt's dairy producer Domty have commenced steps of floating its shares on Cairo bourse with the aim of collecting…
CBE to consider floating pound when foreign reserves hit $30bn
The Central Bank of Egypt (CBE) will consider floating the local currency when foreign reserves hit between $25bn…
Egypt plans to rent third regasification unit by early 2017
Egypt is looking to rent a third floating storage and regasification unit (FSRU) late next year or early in…
Chinese Plane Sees Floating ‘White Objects’ In Search For Malaysian Jet
A Chinese military aircraft searching for the missing Malaysia Airlines jetliner spotted several "suspicious"…