Egypt has resumed onion exports to Saudi Arabia on April 1st, in conjunction with the start of the harvest season, its minister of agriculture said late on Sunday.
Since the beginning of this month, Minister El Sayyed El Quseir said Egypt had (...)
The private sector should make up at least 65 – 70 per cent of Egypt's economy, said Finance Minister Mohamed Maait during a panel discussion in Washington on Wednesday.
Speaking at of the International Monetary Fund's (IMF) Governor Talks series (...)
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The Information Technology Industry Development Agency (ITIDA), part of the Egyptian Ministry of Communications, has released a new report highlighting the most in-demand jobs in Egypt's ICT and offshoring sector.
Drawing insights (...)
Egypt's economy will grow by 3.0 per cent in 2024, slower than previously forecast, the International Monetary Fund (IMF) said in its upgraded World Economic Outlook on Tuesday.
The IMF also forecast Egypt's economic growth at 4.4 per cent in 2025 (...)
Egypt's central bank decided on Monday to increase the maximum amount of cash customers can withdraw in-branch from their bank accounts to 250,000 Egyptian pounds ($5155.78) from 150,000 pounds.
This is the second time for the Central Bank of Egypt (...)
Egypt's central bank decided on Monday to increase daily ATM withdrawals to 30,000 Egyptian pounds ($619.22) from 20,000 pounds.
In August 2022, the Central Bank of Egypt (CBE) scrapped ceilings on daily ATM withdrawals, increasing the withdrawal (...)
Egypt's economic growth is expected at 2.8 per cent in the 2024 financial year – which runs from July 2023 to June 2024, the World Bank said on Monday.
The growth outlook for 2024 was reduced from 3.5 per cent as forecast in January.
According to (...)
Egypt registered an initial budget surplus of 416 billion Egyptian pounds ($8.75 billion) in the first nine months of its 2023/2024 financial year, Finance Minister Mohamed Maait said in a statement released by the Cabinet on Monday.
"The Egyptian (...)
The Top 50 Women Forum on Tuesday congratulated Egyptian President Abdel Fattah al-Sisi on his inauguration for a new presidential term and firm commitment to continue building the new republic and achieving development goals across entire (...)
Bank of Israel Governor Amir Yaron has urged the government to realise the importance of "responsible" economic policy while dealing with current challenges of the war as the economy is facing significant challenges.
In a letter sent to the (...)
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The Egyptian healthcare sector, burgeoning with potential, offers a landscape rich in opportunities for investors, Minister of Health Khaled Abdel Ghaffar stated in a recent event organised by the British Egyptian Business (...)
The International Monetary Fund's (IMF) executive board has approved the the augmentation of the current loan programme with Egypt by $5 billion, the IMF said in a statement on Friday.
"The Executive Board of the International Monetary Fund (IMF) (...)
The People's Bank of China (PBC) announced on Monday that it had conducted 50 billion yuan (about US$7.04 billion) of seven-day reverse repos at an interest rate of 1.8 per cent.
The move aims "to maintain stable liquidity at quarter end" in the (...)
Evergrande liquidators said applications were made by each of the Company, SJ and Tianji to the US Court on Friday to withdraw Chapter 15 bankruptcy protection, Reuters reported on Sunday.
According to a filing to the Hong Kong Stock Exchange, (...)
Turkey's central bank has raised its key interest rate from 45 per cent to 50 per cent, citing the continuing need to counter climbing inflation in the country.
The bank's Monetary Policy Committee (MPC) decided to raise the policy rate (the (...)
The Swiss National Bank (SNB) has on Thursday cut its main interest rate by 25 basis points, the first-rate reduction made by the SNB in nine years.
This made the SNB the first major central bank to dial back tighter monetary policy to curb (...)
Saudi Arabia's Cabinet approved on Tuesday an agreement to set up a regional office for the International Monetary Fund (IMF) in the capital, Riyadh, Saudi state news agency SPA reported. The office is expected to further strengthen the IMF (...)
Egypt has released a backlog of imported goods worth $14.5 billion stuck at ports since the beginning of this year, Minister of Finance Mohamed Maait announced on Tuesday.
During a meeting with key media figures in the country, Minister Maait said (...)
The Egyptian banking sector saw its net profit grew by more than half throughout 2023, the central bank said in its latest report on Monday.
Egyptian banks' net profit rose to 283.388 billion Egyptian pounds ($6 billion) at the end of 2023, compared (...)
The World Bank announced on Monday plans to provide more than $6 billion in support to Egypt throughout the coming three years. The anticipated funding is subject to the international lender's board approval.
"Over the coming three years, the World (...)
As Egypt enforced exchange rate reforms, signed landmark multi-billion agreements, and received the thumbs up from international financial institutions, Banque Misr's chairman Mohamed El-Etreby announced on Wednesday that Egyptian expatriates are (...)
Egyptian President Abdel Fattah al-Sisi issued the presidential decree no. 483 of 2023 approving the use of SOFR as a replacement of LIBOR in setting interest rates of the European Bank for Reconstruction and Development's (EBRD) loan agreements, as (...)
Emirates NBD-Egypt reported on Thursday a 174 per cent growth in its net profits for 2023, marking the highest annual growth rate in the bank's profits since the start of its business in the North African country.
According to its statement, the (...)
The new International Monetary Fund (IMF) deal is expected to catalyse a total of $20 billion in foreign support for Egypt, Bloomberg reported citing Finance Minister Mohamed Maait as saying on Thursday.
During a business event in Cairo, Minister (...)
Egypt has on Wednesday signed an agreement with the International Monetary Fund (IMF) to extend the current $3 billion loan deal to $8 billion.
The agreement was announced during a press conference attended by Prime Minister Mostafa Madbouly, (...)