S&P Global upgrades Egypt’s outlook to positive
S&P Global Ratings upgraded Egypt’s outlook to positive, maintaining its B-/B long and short-term foreign and…
Browsing Tag
reserves
Dana Gas to drill Egypt’s second largest gas field
UAE-based Dana Gas will start drilling in an area in 2019 that could become the second largest Egyptian natural gas…
Egypt expects higher dollar demand as it repays debt
Egypt will have to repay $14.7 billion this year to international creditors, including Arab countries that…
Egypt posts $111.5 mln initial surplus in FY2018: FinMin
Egypt's Finance Minister Mohamed Maait said the government has managed to achieve an initial surplus of 2 billion…
Egypt’s foreign debt ups to $92.64 bln in June: PM
Egypt’s foreign debt rose to $92.64 billion at the close of the financial year in June, up from $88.2 billion at…
Egypt repaid $30bn in due bonds, foreign debt in 2017
Egypt repaid a total of US$30 billion during the 2017 , distributed across due bonds and foreign debt to…
Egyptian banks’ foreign deposits rose 2.9% in March, says c.bank
Egypt banks' foreign currencies rose by 2.9 percent last March
C.bank says Egypt’s gold reserves increase by 5% in January
Egypt’s gold reserves rose by $135 million or 5 percent month-on-month in January 2018, according to the…
Egyptian Agiba Petroleum to dig 7 oil fields in FY2018/19
Egyptian leading oil and gas firm Agiba Petroleum Company plans to to dig seven developmental oil fields within the…
Gold reserves fall 1% in Egypt last December
Egypt’s gold reserves declined by $30 million or 1.1 percent month-on-month in December 2017, according to data…
Egypt’s vegetable oil reserves at 3 months and sugar at 5: ministry
Egypt’s strategic vegetable oil reserves are enough to meet consumption needs for more than three months…
IMF to upgrade Egypt’s economic growth forecast to 5.5% in FY2018/19
The International Monetary Fund (IMF) will raise its forecast for Egypt’s economic growth to 5.5 percent within…
Exxon Mobil targets a foray into Egypt’s offshore oil and gas
Exxon Mobil is considering a foray into Egypt's offshore oil and gas, seeking to replicate rivals’ success in the…
Egypt’s debt hits 3.7 trillion pounds in 2017: minister
Egypt’s Minister of Finance Amr El-Garhy said on Tuesday that the country’s internal and external debt totalled…
Egypt’s foreign debt ups by 42% in FY2016/17: CBE
Egypt’s foreign debt rose by 42 percent to $79 billion during the financial year 2016/2017, said Central Bank of…
Egyptian currency float boosts foreign investment: chairman
Foreign investors have bought a net 11 billion Egyptian pounds ($615.90 million) worth of shares since the country…
HC expects fall in US dollar to hit 15.72 Egyptian pounds at end-FY2017/18
HC Securities and Investment expected Tuesday that U.S. dollar's exchange rate will drop to 15.72 Egyptian pounds…
Egypt’s foreign reserves nearing $35 bln: Sisi
Egypt's President Abdel Fattah al-Sisi announced that the country's foreign reserves are now close to $35 billion.…
Nonperforming loans drop by 5.7% in Egypt’s banks at end-March: CBE
The ratio of non-performing loans at banks operating in the Egyptian market fell to 5.7 percent of the total loan…
Egypt’s fuel consumption jumps by 4.7% in 2016
Egypt’s consumption of various energy resources rose 4.7 percent to reach 91 million tonnes of oil…
Oil prices fall as White House proposes US oil reserve sales
Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil…
Egypt procures 2.33 mln tonnes of wheat since start of harvest
Egypt, the world's largest importer of wheat, has procured 2.33 tonnes of wheat from local farmers since its…
Egypt’s foreign reserves jump to $28.641 bln by end-April
Egypt's foreign reserves edged up to $28.641 billion at the end of April from $28.5 billion at the end of March,…
Egypt’s rice reserves enough for six months
Egypt's strategic supply of rice will cover more than six months' worth of domestic consumption, state news agency…
Egyptians protest subsidised bread lack after government decision to reduce bakeries quota
Hundreds of Egyptians took to the streets on Tuesday to protest the lack of subsidised bread in several…
Egypt signed 8 deals to find energy reserves in FY2015-16
Egypt's petroleum ministry said it signed in 2015/16 eight agreements with six international and local companies to…
Foreign reserves rise by $4 bln in November: Egypt’s CBE
The Central Bank of Egypt (CBE) said on Monday that the country's foreign reserves reached $23 billion by the end…
Sugar reserve sufficient until February : Egypt’s Cabinet
Egyptian Prime Minister Sherif Ismail met Thursday with agriculture, trade, finance, supply, and public enterprise…
CBE allocates $1.8b to secure strategic goods reserves for 6 months
Egypt's central bank has allocated $1.8 billion to ensure six months of reserves in all strategic goods, Supply…
Egypt to increase oil tenders to raise reserves
Egypt's recent spike in purchase tenders for petroleum products is part of ongoing efforts to build strategic…
Sugar reserves sufficient until next February: Egypt’s Supply Minister
Egypt's strategic reserves of sugar are safe and sufficient until February 2017, Supply Minister Mohamed Ali…
Gas and power reserves are sufficient until 2026; Egypt’s Premier says
Egyptian Prime Minister Sherif Ismail announced Thursday that state's reserves of electricity and gas are…
China’s July forex reserves fall to $3.20 trillion
China's foreign exchange reserves fell to $3.20 trillion in July, central bank data showed on Sunday, in line with…
Banking sector must have access to foreign cash via EGX: EFSA
Egypt’s current crisis of low foreign currency reserves requires that the banking sector has direct access to…
Strategic wheat reserves enough to last until mid-January 2017: Egyptian minister
Egypt, the world's biggest buyer of wheat, has enough strategic reserves of the commodity to last until…
Economists vary on interest rate decision amid Egypt’s record core inflation
Five economists had different predictions on whether Egypt's central bank would raise or hold interest rates at its…
CBE sold around $16 bln to banks in six months
The Central Bank of Egypt (CBE) has injected around $16 billion into domestic banks from November 2015 to April…
Arabtec to use $272 mln reserves to wipe out losses
A meeting of shareholders in Dubai-listed construction firm Arabtec Holding approved on Wednesday a plan to use 1…
IMF to identify holdings of China’s yuan in reserves surveys
The International Monetary Fund said on Friday it will separately identify China's yuan currency in its official…
Egypt’s foreign reserves slightly rise in January for fourth month in row
Egypt’s foreign currency reserves inched up in January for the fourth consecutive month, to reach $16.477 billion…