Egypt's foreign debt amounted rose by $ 16.525 billion, representing 15 percent in 2020, compared to 2019, according to data issued by the Central Bank of Egypt (CBE).
CBE said that Egypt's foreign debt registered $129.195 billion at the end of (...)
Telecom Egypt signed a protocol of cooperation with Ora Developers to provide integrated communications services to the latter's real estate projects.
Under the protocol, the telecom operator will extend its network and provide advanced (...)
The non-oil trade deficit widened by 6.6 percent to record $ 19.1 billion, due to higher non-oil imports according to recent data by the Central Bank of Egypt.
Egypt's trade balance fell further into the red during 2Q2020-2021, reaching $ 10.6 bn as (...)
The Commercial International Bank-Egypt (CIB) saw its stock taking sharp nosedive to its lowest level in 28 months.
By 11:00 a.m., the heavyweight stock declined by 2.1 percent to 54.06 Egyptian pounds, its lowest level since December 2018.
About (...)
Hotels in Egypt, which are open at half capacity due to COVID-19 measures, had occupancy rates between 40 percent and 45 percent in the first quarter of the year, an official from the tourism ministry told Reuters on Sunday.
According to Reuters (...)
Egypt is one of the main partners to Russia in the Middle East and Africa, Russian Foreign Minister Sergey Lavrov confirmed.
The top Russian diplomat reiterated that there are promising horizons for strategic cooperation between Cairo and Moscow, (...)
Macro Group, one of the largest and the fastest growing cosmeceutical companies in Egypt, is delaying its planned initial public offering (IPO), which was expected to take place this month.
Despite strong appetite from international institutional (...)
The International Monetary Fund (IMF) expects the GDP for the Middle East and North Africa (MENA) region to reach 4 percent in 2021 and 3.7 percent in 2022 according to its April regional economic outlook.
This reflects an upturn from the -3.4 (...)
Abu Dhabi National Oil Company (ADNOC) and Egyptian businessman Nassef Sawiris-backed chemical producer OCI N.V. (OCI) are weighing an initial public offering (IPO) of their fertiliser joint venture Fertiglobe, two sources familiar with the matter (...)
Egypt's stock exchange's (EGX) indexes closed higher on Monday, with the benchmark EGX 30 index adding 0.55 percent to 10,450 points.
The EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) surged 1.75 percent to 1,970 points, (...)
Egypt's stock exchange's (EGX) indexes finished higher on Sunday, with the benchmark EGX 30 index advancing 0.87 percent to 10,393 points.
The EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) jumped 3.16 percent to 1,936 points, (...)
JPMorgan has confirmed that it is studying the possibility of to include Egypt in its emerging-markets government bond index, Reuters reports
In a statement on Thursday, the Bulge Bracket bank said it is looking at including 14 EGP-denominated bonds (...)
QNB ALAHLI, the Egyptian unit of Qatar National Bank, reported on Sunday a 5.18 percent year-on-year growth in net profit for the first quarter of 2021.
Net profit, including minority shareholders' rights, reached 1.966 billion Egyptian pounds (...)
Egypt registered 801 new coronavirus cases on Saturday, bringing total infections since the outbreak last year to 209,677.
The health ministry reported 43 deaths, bringing the death toll from the virus to 12,405.
600 patients have been discharged (...)
Egypt's hotel market may see occupancy rates of between 35-61 percent in 2021, according to Colliers International's latest Middle East and North Africa (MENA) Hotels Forecast.
The company forecast that the tourism hotspots of Hurghada and Sharm (...)
National Bank of Egypt's (NBE), the country's largest state bank, new microfinance and electronic payment arm, Al Ahly Tamkeen, has started to provide its services at certain branches in Upper Egypt.
The company seeks to achieve the the state and (...)
The National Bank of Greece (NBG) is terminating its activities in the Egyptian market after having submitted a formal request to the Central Bank of Egypt, according to Greek news outlet Business Daily.
NBG's decision comes after years of (...)
Supporting the corporate sector, including small and medium-sized enterprises (SMEs) must be a key priority for policy makers in emerging markets and developing economies, including Egypt, said Tobias Adrian, the financial counsellor and director of (...)
Egypt's banks could face further pressure on net income in 2021 due to the lower interest rate environment , Fitch Ratings said in a report.
The pressure may also arise due to a potential rise of Non-performing loans when the Central Bank of Egypt (...)
The Egyptian government's gross debt may jump to 92.9 percent of GDP in 2021, up from 90.2 percent in 2020,, according to the International Monetary Fund (IMF).
However, it is expected to decline to 88.9 percent in 2022 and down to 73.4 percent by (...)
Egypt's annual headline inflation rate increased by 0.6 percent month-on-month (MoM) to 110.9 points in March, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Thursday.
The rise in inflation rate happened due to an (...)
COVAX facility will be distributing 1.3 billion COVID-19 vaccin doses to the developing countries, including Egypt, by the end of 2021, managing director of the International Monetary Fund (IMF) Kristalina Georgieva said.
Georgieva made her remarks (...)
The International Monetary Fund (IMF) said that Egypt's fiscal position has improved over the past six months, though debt is expected to rise at a quicker pace than before according to Figures in the Fund's latest Fiscal Monitor Report.
Egypt's (...)
Egypt's stock exchange's (EGX) indexes closed higher on Thursday, with the benchmark EGX 30 index growing 0.74 percent to 10,303 points.
The EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) surged 1.97 percent to 1,876 points, (...)
EFG Hermes announced a new partnership between its NBFI subsidiaries valU for consumer finance and PayTabs Egypt with LuLu Group International in Egypt.
The partnership will allow LuLu shoppers to benefit from valU's affordable and convenient (...)
