Measures to support industrial facilities that halted their activities in the wake of the 2011 Revolution have been set in motion to allow them to resume production as part of a programme announced following a meeting between president Abdel-Fattah (...)
Egypt's foreign debt rose to $109.4 billion by the end of the first quarter of the current fiscal year, recording an annual increase of 17.4 per cent, compared to $93.1 billion registered during the same period last year, recent figures released by (...)
Finance Ministry reports are pointing to increasing demand for Egypt's debt instruments – treasury bills and bonds – among foreign investors despite lower yields.
Central Bank of Egypt (CBE) Governor Tarek Amer announced at the Annual Arab Banking (...)
Until the 1920s Egypt housed one of the world's leading cotton exchanges, reflecting the fame that Egyptian cotton had worldwide at the time. However, as the century wore on the exchanges disappeared until recent decades when the country no longer (...)
In 2005, Egypt and Turkey signed a free-trade agreement (FTA) that came into force in 2007. According to this FTA, custom duties on vehicles imported from Turkey would be subject to a gradual decrease of 10 per cent a year until they were cancelled (...)
The Central Bank of Egypt (CBE) launched a LE50 billion initiative earlier this month to fund middle-income Egyptians wanting to buy residential units with a 10 per cent interest rate that decreases over time and in 20-year installments.
The CBE's (...)
The Ministry of Public Enterprise has decided to change the zoning of 182 plots of industrial land owned by public-sector companies to real-estate use. The move is planned to help fund the restructuring of state-owned companies, said Hisham Tawfik, (...)
Egypt's annual inflation hit its lowest rate in nine years, recording 2.4 per cent in October from 4.3 per cent in September, the Central Agency for Public Mobilisation and Statistics (CAPMAS) has reported.
The country's inflation rates have been (...)
Many real-estate developers are bidding to purchase the 10 per cent stake with management rights in the Heliopolis Company for Housing and Development (HCHD), whose privatisation started this week, said Hisham Tawfik, the minister of public (...)
A government plan to impose a 10 per cent tax on capital gains on stock-exchange trades in May 2020 is soon to be reviewed by the cabinet and parliament. The plan was temporarily shelved in 2015 and 2017.
The Egyptian Capital Market Association (...)
The Monetary Policy Committee of the Central Bank of Egypt (CBE) cut interest rates by one per cent (100 basis points) on 26 September. The new cuts included decreasing overnight interest rates to 13.25 per cent, overnight lending rates to 14.25 per (...)
Accumulated debts of $2.1 billion, online competition, shifting tastes and global geopolitical events led Thomas Cook, the British tour operator with 178 years of history in travel operations behind it, to liquidate its assets, file for bankruptcy, (...)
With the Africa Cup of Nations (AFCON) football tournament kicking off in Cairo tomorrow, it is not only the sport's fans that are elated that the tournament is being held in Egypt. So is the country's tourism sector in the hope that the competition (...)
With the Africa Cup of Nations (AFCON) football tournament kicking off in Cairo tomorrow, it is not only the sport's fans that are elated that the tournament is being held in Egypt. So is the country's tourism sector in the hope that the competition (...)
Since the beginning of the year, the US dollar has been taking a plunge, with the buying price at most of Egypt's banks hovering around LE16.99.
The trend was not anticipated by economic experts, who nevertheless believe that the dollar's journey (...)
Egypt is making new efforts to promote tourism on the international stage by partnering with the US channel CNN to launch a global tourism campaign and making a series of documentaries on Egypt's archaeological wonders with an Italian media group, (...)
Egypt is making new efforts to promote tourism on the international stage by partnering with the US channel CNN to launch a global tourism campaign and making a series of documentaries on Egypt's archaeological wonders with an Italian media group, (...)
Since the beginning of the year, the US dollar has been taking a plunge, with the buying price at most of Egypt's banks hovering around LE16.99.
The trend was not anticipated by economic experts, who nevertheless believe that the dollar's journey (...)
Banque du Caire has announced it will offer a portion of its shares for sale on the stock market. The offering will take place before the end of the year and is expected to garner between $300 and $400 million.
The bank, owned by Banque Misr, the (...)
The Suez Canal city of Port Said will be the first in Egypt to witness the implementation of the government's new e-payment act, effective on 1 May, that regulates cashless payments and assists the country on its journey towards digital (...)
The International Monetary Fund (IMF) released its fourth review of Egypt's economy on 6 April as part of the economic reform programme carried out as a condition of an extended loan of $12 billion.
The report, the fifth and final one being due (...)
The International Monetary Fund (IMF) released its fourth review of Egypt's economy on 6 April as part of the economic reform programme carried out as a condition of an extended loan of $12 billion.
The report, the fifth and final one being due (...)
Egypt's draft budget for 2019-20 is with the House of Representatives, the lower house of the country's parliament, for approval after having passed cabinet scrutiny. The House has three months to deliberate on the document before it is signed into (...)
To the delight of pensioners, President Abdel-Fattah Al-Sisi ordered the Ministry of Social Solidarity last week to withdraw its appeal against a High Administrative Court ruling issued in February on the right of pensioners to receive annual (...)
The government's strategy to lower Egypt's public debt to 80 per cent of gross domestic product (GDP) by 2022 has now started, after the country's domestic and foreign public debt stood at around 97 per cent of GDP in June 2018.
Two key components (...)
