CAIRO: Egyptian stocks fell to eight-week lows on Monday after the Muslim Brotherhood challenged the government to change the terms of an emergency IMF loan, showing political powers remain far apart on how to stave off a payments crisis.
Muslim (...)
CAIRO: Growing local appetite for medium-term Egyptian government debt helped push the average yield on three-year bonds lower at an auction on Monday and market watchers said investors were shifting some funds from short-term tenors.
Egyptian (...)
CAIRO: Egypt's central bank unexpectedly raised interest rates on Thursday for the first time in more than two years, acting after depleting its foreign reserves trying to defend a local currency weakened by street violence and political (...)
CAIRO: Egypt's central bank left its benchmark overnight deposit and lending rates unchanged on Thursday, as expected by economists who say the government is more concerned about ending a recession than fighting inflation.
The decision came after (...)
CAIRO: Egyptian stocks posted their biggest drop in seven months and the pound dipped to its weakest against the dollar in almost six years on Monday as investors grew concerned that political turmoil in Tunisia could spread to Egypt.
Traders had (...)
CAIRO: The Egyptian pound traded as low as 5.7360 to the dollar on Tuesday, its weakest in three and a half years, with analysts saying the fall may be due to the central bank stepping up its buying of foreign currency.
The analysts said the (...)
CAIRO: Foreign investors are moving back into Egyptian Treasury bills, pushing yields lower, in the hope that the Egyptian pound has finally bottomed out and may appreciate in coming weeks or months.
The average yield on 91-day T-bills sank to (...)