Egypt's supply ministry has received 1.03 million tonnes of wheat from farmers nationwide since the harvest season commenced in mid-April, the ministry's media advisor Mohamed Sweed told Ahram Online on Tuesday.
The government previously said it (...)
Egypt asked the Nile Basin Initiative (NBI) council of ministers for more time to study a report by the council's special committee addressing Cairo's concerns regarding the Co-operative Framework Agreement (CFA), the initiative said in a statement (...)
Egypt's agriculture ministry has announced a temporary ban on imports of meat and poultry from Brazil in view of a probe by Brazilian authorities into the export of expired meat, the ministry's spokesman told Ahram Online on Wednesday.
"We are (...)
Water ministers from Egypt, Sudan, Uganda and Rwanda are meeting in Khartoum on Monday to discuss the issues raised by Egypt over the new Cooperative Framework Agreement (CFA) between Nile Basin countries, the Egyptian Ministry of Irrigation said in (...)
The foreign holdings of Egyptian treasury bills have reached EGP 53 billion (roughly $3.3 billion), Egypt's finance minister said on Sunday.
During a news conference organised by the American Chamber of Commerce in Egypt, Amr El-Garhy said that the (...)
Egypt's financial regulator confirmed Thursday that the finance ministry has consulted with the Egyptian Financial Supervisory Authority (EFSA), the Stock Exchange and the Egyptian Capital Market Association over a projected stamp duty on Egyptian (...)
A workers strike at two factories owned by Egypt's Misr Spinning and Weaving Company, also known as Mahalla El-Kubra, was suspended on Wednesday and production has resumed, according to company chairman Hamza Abul Fath.
One worker, who asked to (...)
Egypt's supply ministry has increased the price of the subsidised sugar sold through ration cards by 14 percent to reach EGP 8 per kilogramme, the ministry's spokesman Ibrahim Amer told Ahram Online on Tuesday.
“The new price - which goes into (...)
The Nile Basin Initiative is currently preparing a delegation to visit Cairo to discuss Egypt's possible return to the regional grouping after seven years of inactivity, the initiative's head said.
“Hopefully by March, the NBI can send the (...)
The International Monetary Fund (IMF) said in an online conference on Wednesday that the second tranche of the $12 billion loan to Egypt will be disbursed to Cairo in late April, praising Egypt's “good start” in implementing its economic reform (...)
As I stepped out of the capital's international airport, my unconscious mind tried to tell me that I was in a cosmopolitan, eye-catching European city, as I found myself surrounded by green mountains integrated with well-designed modern (...)
The Central Bank of Egypt (CBE) has confirmed to Ahram Online that it received on Friday an initial $2.75 billion from the International Monetary Fund (IMF) following the board's approval for Egypt's $12 billion loan.
CBE governor Tarek Amer told (...)
The value of the Egyptian pound was further weakened on Tuesday among local lenders to register an average of EGP 17.8 per US dollar, falling from an average of EGP 16.8 on Monday, according to online data from four major banks.
However, in the (...)
Egypt's central bank (CBE) said it sold $98.7 million to local banks in its last regular forex auction held on Thursday at EGP 14.3.
“A second forex auction on Thursday isn't expected,” a banker familiar with the matter told Ahram Online, denying (...)
Egypt's supply ministry has increased the price of the subsidised sugar sold through ration cards by 40 percent to reach EGP 7 per kilogramme, an official at the interior ministry said on Tuesday.
“The decision aims to stop the price manipulation in (...)
Egypt will hold a series of meetings with investors in the second week of November to promote its dollar-denominated Eurobonds of at least $3 billion, the country's finance minister Amr El-Garhy said in a Cairo conference on Monday.
El-Garhy said in (...)
When the Iraqi football team won the 2007 Asian Cup, cafes, restaurant terraces, and parking lots were filled with Iraqis, Palestinians and Egyptians celebrating the Mesopotamian nation's victory over Saudi Arabia; the scene of celebration was not (...)
Egypt's parliament gave a final approval on Monday to the implementation of the long-delayed value-added tax (VAT) at a rate of 13 percent for the current fiscal year.
Parliament also increased the list of exempted goods and services to 56 from 52 (...)
"You have the High Dam in Egypt, and we hope to have the GERD, because we want electricity and our country to grow,” an Ethiopian taxi driver in Addis Ababa told Ahram Online, “and I am paying for this dam.”
“It's not fair for Egyptians to think (...)
The rate of Egypt's long-delayed Value-added tax (VAT) has been set at 14 percent instead of the previous rate of 10 percent as parliament iis set to discuss the new law, finance minister said on Tuesday.
The VAT was previously set at a flat rate of (...)
Egyptian tourism receipts are expected to range between $4 billion to $4.5 billion by end of the current year, finance minister Amr El-Garhy said at press conference on Tuesday.
The total tourism revenues in 2015 registered $6.1 billion.
El-Garhy (...)
The Central Bank of Egypt (CBE) has not filed an official request for a loan program from the International Monetary Fund (IMF), said the bank's governor Tarek Amer on Monday.
“The CBE governor is the country's governor at the IMF, and we [the bank] (...)
Egypt will sign the final version of four funding accords with Saudi Arabia worth roughly $22 billion, to come into effect as of Friday, during King Salman's first official visit to Cairo, official sources said on Tuesday.
The Saudi King Salman, who (...)
The Egyptian pound "has been strengthened" against the US dollar in the Central Bank's exceptional auction held earlier on Wednesday to sell $1.5 billion to banks, a senior CBE official said to Ahram Online without providing further details.
Reuters (...)
Egypt's Central Bank (CBE) sold $198.1 million to local banks in a $200 million exceptional auction earlier Monday at a "more flexible exchange rate" of EGP 8.85 per dollar against 7.73 in previous auctions, the bank stated on its website.
The (...)