Egypt has reached a staff level agreement with the International Monetary Fund for an instalment of around …
Tag:
Floating
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Banks
Egypt government spent $5.65bn over-budget in 2016-17 due to currency float
by Yomna Yasserby Yomna YasserEgypt’s government spent over 100 billion Egyptian pounds ($5.65 billion) more than it planned to in the …
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Banks
Egypt’s pound shows Nigeria must overcome its fear of floating free – Reuters
by Yomna Yasserby Yomna YasserA currency devaluation may do little to fix Nigeria’s problems unless it follows the examples of emerging …
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Industry & Trade
Electrolux Egypt: prices increased by 20-25% amid floating pound
by Noha Gadby Noha GadElectrolux Egypt increased the prices of its products by 20-25 percent after the move of the Egyptian …
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Banks
Banque du Caire: new certificates of deposit brought in 12bn Egyptian pounds
by Yomna Yasserby Yomna YasserEgypt’s third biggest bank, state-owned Banque du Caire has received around 12 billion Egyptian pounds (around $680.7 …
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forex news
Egypt’s NBE bank sold $220 mln in week to cover imports – v.chairman
by Yomna Yasserby Yomna YasserEgypt’s biggest lender, the state-owned National Bank of Egypt, provided around $220 million to cover import payments …
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Banks
World Bank hails Egypt reforms saying will create job, boost social inclusion
by Yomna Yasserby Yomna YasserThe World Bank welcomed on Friday the Egyptian economic reforms, saying they would create jobs and promote …
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Financial Institutions
Cairo hopes to finalise IMF loan deal in days – c.bank chief
by Yomna Yasserby Yomna YasserEgypt hopes to finalise a $12 billion IMF loan programme within days as it has secured pledges …
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Industry & Trade
Local autos prices to jump 50% amid floating Egyptian pound: official
by Noha Gadby Noha GadThe prices of local and imported automotives would be increased by 50 percent and 15 percent respectively …
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Financial Institutions
Egypt’s currency float move to spur foreign investments: market regulator
by Yomna Yasserby Yomna YasserEgypt’s move to freely float the local pound will contribute to support and boost non-banking financial activities, …
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