IMF team back in town
Technical delegation resumes negotiations over loan
Mohamed Salah
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Latest by Mohamed Salah
EGX30 closes above resistance level
The standard stock exchange index, EGX 30, ended Monday’s session above the resistance level of 5,800 points for the first time this month amid expectations of a continuing increase. The index closed Monday at 5,893 points compared to 5,793 points on Sunday, gaining 1.73 per cent, while the EGX70 index for small and medium sized …
Egypt imports gas to meet its exportation requirements
Minister of Petroleum, Osama Kamal, refused to comment on the matter
Government to rely on solar energy to shore up power deficit
The project will be key in reducing the shortage of electricity in Egypt
Egypt ranks 109 on ease of conducting business
In the same ranking, Georgia, Rwanda, Belarus, Burkina Faso and Macedonia came before Egypt
Egypt and Cyprus to jointly explore Mediterranean deepwaters
The Cypriots have asked to use Egyptian expertise in reaching gas and oil discovery agreements, especially in deep water, and also in the seismic surveying.
Egypt and Iran to foster trade ties
The Iranian official said exchanging agricultural products will be the start of improved relations between Iran and Egypt.
For the seventh time: CBE fixes interest rates on deposits and loans
In its meeting Thursday, the monetary policy committee in the Central Bank of Egypt has decided to fix the interest rates on deposits at 9.25 per cent and on the one night lending at 10.25 per cent for the seventh time since February, in an attempt to maintain the bank’s monetary policy and to control …
Libya invites Egyptian investors to help in its reconstruction
The $65 billion worth plan will be executed within a 10 year time span according to the Libyan official, as reported by Al-Ahram.
Developers compete for Egyptian Steel contract
Four companies are competing for a contract of Egyptian Steel’s plant in Ein Sokhna. The bidding companies are Orascom Construction Industries (OCI), Petrojet, Hassan Allam Sons and SIAC, chairman of Egyptian Steel, Ahmed Abou Hashima, said on Wednesday. The winner of the EGP 220 million bid will be announced within the coming two weeks, said …
Egypt to receive first instalment of Turkey’s pledged $2bn loan
The Turkish loan to Egypt has triggered a political crisis in Turkey.
EFG deal fails to lift the market
Al-Saeed expects the market to resume its positive performance Wednesday despite price fluctuations.
EGX performance reacts oddly to political instability
The Egyptian Stock market index maintained its downward trend after a weekend of massive agitation.
Egypt close to agreement with IMF
An agreement on the proposed $4.8 billion loan to Egypt could be reached by mid-November, according to director of the International Monetary Fund (IMF), Christian Lagarde. Lagarde spoke to Egyptian reporters on Thursday in a press briefing that was held during the joint meeting of the IMF and the World Bank in Tokyo. “As you …
Exporta conference: growth in Africa, decline in Europe
The fifth annual “Egypt, Trade and Export Finance” conference was held yesterday in Cairo. Trade experts, bankers and businessmen convened to discuss export and trade opportunities for Egypt, in the context of the ongoing dialogue on the country’s economy. Optimism was driven by positive factors favouring the Egyptian economy which make it able to regain …
Investment in Egypt: A lot is being done, a lot is yet to be done
Most of the speakers tried to convey a reassuring message, however some participants insisted that most of the work is yet to be done.