Egypt issued on Thursday US-dollar dominated eurobonds in three types with a total amount of about $3 billion, the Ministry of Finance announced on Friday.
Eurobonds issuance is one of the debt instruments the country resorts to in order to finance (...)
Huawei Technologies has invested about $10 million over the past five years to set up three innovation centres in Cairo, according to Vice President of Global Communications at Huawei Technologies Karl Song.
Song's comments came in response to a (...)
The heads of the International Monetary Fund (IMF), World Bank Group (WBG), World Health Organization (WHO) and World Trade Organisation (WTO) met with the CEOs of leading vaccine manufacturing companies to discuss strategies to improve the access (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has maintained the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.
The (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene on Thursday to review the key interest rates for the sixth time in 2021.
In the last meeting — held on 5 August — the MPC decided to maintain the CBE's current (...)
Egyptian expats' remittances jumped to an unprecedented rate of 13.2 percent in FY 2020/2021 to post $31.4 billion, up from $27.8 billion in FY 2019/2020, the Central Bank of Egypt (CBE) announced on Wednesday.
CBE data showed that Egyptian expats' (...)
Green recovery, securing development finance, and mobilising international efforts to achieve the UN Sustainable Development Goals (SDGs) while recovering from the repercussions of the Covid-19 pandemic were the main topics at the two-day (...)
The International Financial Corporation (IFC), a member of the World Bank Group, announced on Tuesday that it has provided the UAE-based BCI Holding SA Group — a leading regional manufacturer and distributor of polyurethane (PU) raw materials, (...)
The Global Finance magazine has chosen the Governor of the Central Bank of Egypt (CBE) Tarek Amer as among the top-ten central banks' governors list for 2021, awarding him "A" grade.
The list contains the central bank governors who earned "A" or (...)
The Ministry of Planning and Economic Development and the Ministry of Petroleum and Mineral Resources have inked a cooperation protocol concerning financing the implementation of natural gas grid projects in accordance with the Decent Life (...)
As the world deals with the repercussions of two years of the Covid-19 pandemic that have slowed down efforts to meet the 17 UN Sustainable Development Goals (SDGs) that are slated to be reached by 2030, Egypt's Ministry of International Cooperation (...)
Egypt plans to raise the Suez Canal's contribution to the GDP in the current FY2021/2022 by 5.6 percent so that it may reach EGP 99.3 billion (in fixed prices), up from EGP 93.9 billion in FY2020/2021, Minister of Planning and Economic Development (...)
Egypt's Ministry of International Cooperation has announced that it will launch the 'Egypt - International Cooperation Forum (ICF): Engaging for Impact' on 8 September over two days, under the patronage of President Abdel-Fattah El-Sisi, with (...)
The Africa Singapore Business Forum (ASBF), a platform for business exchange and boosting trade between Africa and Asia, kicked off on Monday for its sixth edition and is scheduled to conclude on 27 August.
Organised by Enterprise Singapore, a (...)
Germany is set to allocate soft development funds to the tune of €151.5 million to finance 15 development projects in eight sectors in Egypt, the Ministry of International Cooperation announced on Wednesday.
The sectors are technical education, (...)
Egypt's Minister of International Cooperation Rania Al-Mashat met on Sunday with Japanese Ambassador to Egypt Masaki Noke to discuss Egyptian-Japanese economic relations and future development cooperation projects.
The meeting came as part of (...)
In an interview with Al-Ahram Weekly, director of financial institutions at the international ratings agency Fitch Ratings Zeinab Abdallah described the operating environment of Egypt's banks, explaining why the agency has upgraded its outlook for (...)
The World Bank Group (WBG) has extended finance support worth $84.3 billion in fiscal year (FY) 2021, 15 percent higher than FY2020, in response to the COVID-19 pandemic and its related repercussions.
In its report on FY2021 (1 July 2020 to 30 June (...)
Egypt's Minister of International Cooperation Rania Al-Mashat along with Minister of Higher Education and Scientific Research Khaled Abdel-Ghaffar signed an agreement with the Japanese Embassy and the Japan International Cooperation Agency (JICA) (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to maintain interest rates for the sixth time in a row since December 2020.
It decided to keep the overnight deposit rate, overnight lending rate and the rate of the main (...)
The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) is scheduled to meet on 5 August to review key interest rates in the light of recent economic updates on the global and domestic levels. This will be the MPC's fifth meeting this (...)
Over 1600 export companies submitted their requests to benefit from the cash repayment for exporters initiative in its third stage, Finance Minister Mohamed Maait announced on Thursday.
The Ministry of Finance launched the initiative's third stage (...)
On Tuesday, the International Monetary Fund (IMF) launched its new World Economic Outlook report, which sheds light on the consequences of the Covid-19 pandemic and recovery efforts made across the world.
In an interview with Al-Ahram Weekly, Malhar (...)
German Development Bank (KfW) has provided financing worth €41 million for Egypt to support the country's techincal education sector, Egypt's Minister of International Cooperation Rania Al-Mashat announced on Sunday.
The financing, which comes as (...)
Egypt placed third in Forbes Middle East's list of largest economies in the Arab region with a total GDP value that is expected to jump to $394.3 billion in 2021, up from the $361.8 billion recorded in 2020.
Egypt retreated to third place behind the (...)
