Thursday, May 26, 2022
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Egypt

Cash reserves within safe limits, cover six months: Banque du Caire head

The Central Bank of Egypt uses its tools with flexibility and unconventional form to maintain price levels, Tarek Fayed, Chairman of the Board of Directors of Banque du Caire, said, stressing that cash reserves are within safe...

FEI’s Tobacco Division warns of disruptions in tobacco production

The Tobacco Division of the Federation of Egyptian Industries warned against the cessation of cigarette and tobacco factories from production due to the reluctance of banks to open documentary credits required to import raw tobacco – the main...

Central Bank of Egypt announces interest rate increase

 The Monetary Policy Committee of the Central Bank of Egypt decided in its extraordinary meeting on Monday to raise the overnight deposit and lending rates.The central bank’s main operation rate by 100 basis aims to reach 9.25%, 10.25%...

US dollar exchange rate stable in Egypt banks

 The US dollar exchange rate maintained stable prices in Egypt banks against the local currency on Tuesday.Despite increasing prices of commodities against the backdrop of the Russian-Ukrainian conflict.The exchange rate for US dollars at the Central Bank of...

Egypt among top 10 investment destinations in Africa: Business Insider

The “Business Insider” website has named Egypt as one of the top 10 investment destinations in Africa.The list also includes Nigeria, South Africa, Algeria, Morocco, Kenya, Ethiopia, Ghana, Angola, and Cote d’Ivoire, according to a report issued by...

Winter sale in Egypt kicks off on Monday with 50% discounts

The Egyptian Ministry of Supply and Internal Trade announced the start of the first seasonal clearance season – winter sale – for the year 2022 on Monday, set to run for a month.In a statement on Sunday, the...

Egypt’s Sisi, China’s Xi Jinping hold economic talks in Beijing

Egyptian President Abdel Fattah al-Sisi held summit talks with Chinese President Xi Jinping on Saturday morning at the Great Hall of the People in Beijing.The official spokesperson for the Egyptian Presidency Bassam Rady, said that the Chinese president...

Suez Canal sets a new record revenues during January

The head of the Suez Canal Authority Osama Rabie, announced on Tuesday that the navigation movement in the vital waterway during January 2022 made unprecedented records.He explained that the figures that were achieved came in terms of the...

Immigration Ministry launches savings and investment pots for expats

The Ministry of Immigration and the Egyptian Stock Exchange has launched savings and investment pots in response to the request of Egyptian expatriates.A statement from the ministry said that these vessels provide gains in the stock exchange.The ministry...

Egypt seeks to establish drug factory in Senegal

A pharmacist searches for medicine at a pharmacy in Cairo, Egypt, November 17, 2016. REUTERS/Mohamed Abd El GhanyThe President of the Egyptian Export Council of Medical Industries (ECMI), Majed George, held talks with Senegalese President Macky...
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