Private sector development is still a huge challenge for Egypt's economy. The business climate should be one of the prime targets for the government, particularly as Egypt dropped down in the Doing Business ranking for 2015–2016. There could not be (...)
Secretary-General of the Arab League, Nabil El-Araby met Monday with Somali President, Hassan Sheikh Mohamud in Cairo to discuss Somalia's monthly grant and reconstruction.
According to a statement issued by the Arab League, the meeting revolved (...)
Egypt has recently enacted a new law on investment that amends the Egyptian investment law, with high hopes that such a new law increases the chances in restoring confidence in Egypt's investment climate. An objective evaluation of the new law (...)
Secretary-General of the Arab League, Nabil El-Araby denounced in a press release Friday the Iranian interference in the internal affairs of the Kingdom of Bahrain.
El-Araby added that the recent statements by senior Iranian officials about the (...)
On Tuesday, Egypt Central Bank (CBE) has offered 7-day maturity worth EGP 18 billion to the local banks at interest rates of 10.25% through its Fifth repurchase agreements (Repo) since the reactivation last June so as to provide liquidity.
CBE , via (...)
The Central Bank of Egypt (CBE) will be offering today US$ 40 million to the local banks at its 77th foreign exchange auction. Accordingly, CBE has pumped US$ 2.4 billion, through periodic auctions, in the foreign exchange market since last (...)
Egypt's Central Bank (CBE) has decided to delay its 75th Foreign Exchange Auction on Monday for it coincides with the banks' official vacation of the new fiscal year 2013/14.
CBE has used to raise USD 40 million through periodic FX Auctions on (...)
Today, the Central Bank of Egypt (CBE) will be offering US$ 40 million to the local banks at its 70th foreign exchange auction and its 54th since Hisham Ramez hold the office of the CBE's Governor last February. Accordingly, CBE has pumped US$ 2.14 (...)
Latest report of the Central Bank of Egypt (CBE) revealed that tourism came in at US$ 8.1 billion revenues, up from US$ 7.1 billion in the first 9 months of the current fiscal year.
Egyptian remittance posted an increase of US$ 1 billion to reach (...)
On Wednesday, the US dollar's exchange rates against the Egyptian pound has surged to EGP 7.0001 for buying and EGP 7.0302 for selling, from EGP 6.9957 for buying and EGP 7.0258 for selling on Tuesday.
Euro's price also edged higher on Wednesday EGP (...)
Egypt Central Bank (CBE) has offered on Tuesday 7-day deposits worth EGP 8 billion to the local banks at interest rates of 10.25% through its second repurchase agreements (Repos) since reactivation.
Over the last 10 weeks, the CBE had withdrawn (...)
The Central Bank of Egypt (CBE) is offering today US$ 40 million to local banks at its 69th foreign exchange auction and its 53th since Hisham Ramez hold the office of the CBE's Governor last February. Consequently, CBE has pumped worth US$ 2.14 (...)
Egypt Central Bank (CBE) has offered on Tuesday 7-day deposits worth EGP 5 billion to the local banks at interest rates of 10.25% through repurchase agreements (Repos). This comes after a 10-week halt of the Repo operations. Over the last 10 weeks, (...)
Central Bank of Egypt (CBE) has offered on Monday US$ 40 million to local banks at its 66th auction and the 48th since Hisham Ramez hold the office of the CBE's Governor last February.
Accordingly, CBE has pumped around US$ 1.94 billion in the (...)
On Monday, the US dollar's price slightly rose against the Egyptian pound to EGP 6.9908 for buying and EGP 7.0209 for selling, compared to EGP 6.9889 for buying and EGP 7.019 for selling on Sunday.
The euro has recorded EGP 9.2018 for buying and EGP (...)
In its last FX Auction for this week, the Central Bank of Egypt (CBE) has offered on Thursday US$ 40 million to local banks to become its 65th auction and the 49th since Hisham Ramez hold the office of the CBE's Governor last February.
Consequently, (...)
Egypt's Foreign Reserves have recorded a remarkable rise of US$ 1.613 billion to reach US$ 16.03 billion by the end of June against US$ 14.4 billion last April, reporting its highest levels since the outbreak of January 25th revolution.
A number of (...)
By the end of this week, the US dollar's exchange rates against the Egyptian pound has increased in banks to EGP 6.9889 for buying and EGP 7.019 for selling, compared to Wednesday's levels of EGP 6.9873 for buying and EGP 7.0174 for selling.
Euro's (...)
Central Bank of Egypt (CBE) has offered on Wednesday US$ 40 million to local banks at its 64th auction and the 48th since Hisham Ramez hold the office of the CBE's Governor last February.
Accordingly, CBE has pumped around US$ 1.94 billion in the (...)
At its 10th deposit auction, Egypt's Central Bank (CBE) is seeking to obtain deposits of EGP 6 billion from local banks at fixed interest rates of 10.25% on Tuesday.
In a statement, the CBE referred that it had obtained loans worth EGP 6 billion (...)
Central Bank of Egypt has offered on Monday US$ 40 million to local banks at its 63th auction and CBE's 47th one since Hisham Ramez hold the office of the CBE's Governor last February.
This raises the value of dollars offered at regular FX auctions (...)
The volume of the indirect funds provided by the Industrial Development & Workers Bank of Egypt (IDBE) for the small and medium enterprises (SMEs) , reached EGP 80 million last April.
Hamdi Azam, board member at IDBE, said to "Amwal Al Ghad" that (...)
The Central Bank of Egypt (CBE) offers US$ 40 million to local banks at its 62nd FX auction and 46th one since the appointment of Hisham Ramez as Governor of CBE last February.
This raises the value of dollars offered at regular FX auctions to US$ (...)
On Wednesday, the exchange rate of the US dollar against the Egyptian pound have slightly increased to EGP 6.983 for buying and EGP 7.0131 for selling, compared to Thursday's levels of EGP 6.9819 for buying and EGP 7.012 for selling
Euro's price has (...)
Barclays Bank-Egypt's net profit rose 126.5% (EGP 64.3 million) to reach EGP 115.09 million at the end of the first quarter of 2013, compared to EGP 50.7 million at the end of the first quarter of 2012.
Barclays Bank's financial statements showed (...)