Latest in Tag: Pound flotation Highlight
Latest in Tag: Pound flotation
Egypt’s real estate prices have hiked by 75% since pound flotation
Real estate prices in the Egyptian market have hiked by an average of 75% since the floatation of the Egyptian pound till now, according to Mahmoud Abdel Halim, chairperson of MREC for Integrated Real Estate Services. Abdel Halim noted in a press statement on Thursday that the price spikes in some projects and regions reached …
CAPMAS monitors 78% hike in long-term loans to economic bodies in FY 2016/17
Increase in revenues came mainly from energy sector due to rise in international oil prices, pound flotation
50% decline in mobile sales since pound flotation: Mostafa
Past years have proven success of small companies, market is not monopolised
Pound flotation posed challenges for banks’ financial positions in 2016: Business News Index
SAIB, Audi, NBE recorded the lowest ratios of unregulated loans portfolios
Agricultural crop exports decline despite pound flotation
Egypt’s agricultural exports reached $1.03bn during the period from September 2016 to February 2017, compared to $1.07bn y-o-y
Pound flotation encourages British investors in Egypt: EBCC head
Government’s announcement of major national projects enhances investment opportunities, says the head of EBCC
Pound flotation increases costs of developing 10 archaeological projects to EGP 635m
The costs of the development and restoration of archaeological projects in the engineering projects division of the Ministry of Antiquities have recorded a noticeable increase with the decision to liberalise the exchange rate of the Egyptian pound. The budget allocated to develop 10 projects this year is estimated at EGP 635.5m, compared to EGP 350.9m …
NBE finances imports worth $4.3bn for public, private sectors since pound flotation
NBE’s proceeds reached $2.2bn since 3 November 2016, while savings certificates with 16-20% of interest collected more than $182bn, according to NBE vice president Abu ElFotouh
Pound flotation was mandatory, sector faces difficulty in marketing new units: real estate investors
The flotation of the Egyptian pound has increased the cost of construction
Amer Group restructures restaurants to keep up with consequences of pound flotation
Company begins establishment of residential project comprising 23,000 units near Porto Marina
Ministry of Electricity presents memorandum to cabinet to increase allocations after pound flotation
The ministry requires more than EGP 65bn in subsidies, and kilowatt production costs EGP 0.9-1.0 per hour
Pound flotation hinders calculation of artefact cost in Grand Egyptian Museum
52% of the project was implemented by the end of November
NBE provides $800m for imports following pound flotation
Fluctuations in the US dollar exchange rate are normal initially and will not last long, says Okasha
Pound flotation, signing of IMF loan agreement to contribute to reviving real estate investment: Coldwell Banker
Real estate sector nominated to grow by 30% annually
$500m investments in government debt tools, EGX since pound flotation: Deputy Finance Minister
Launch of international bonds to be determined by end of this week; promotion to start in January, says Finance Minister
Crédit Agricole collects $150m from clients since pound flotation
The bank does not intend to reconsider its interest rates on investment vessels
Banks secure $2.2bn to meet customers’ needs since pound flotation: cabinet
Banks have received $2.6bn as of Monday, says CBE governor
Pound flotation decision will encourage Indonesian companies to invest in tyre industry: Mohamed Baraka
Mohamed Baraka, the chairperson of Baraka Contracting and Trade, a subsidiary of the Indonesian GT Tires company, revealed that the Indonesian company has showed it is willing to reopen the case for investing in Egypt and establishing a tyre factory. Baraka told Daily News Egypt that the decision to float the Egyptian pound has encouraged …
60% drop in press institutions salary following pound flotation: Press Syndicate
Syndicate’s Freedoms Committee warns of degradation of journalists’ rights as a result of recent economic policies
Banks loosen restrictions on US dollars abroad after foreign exchange resources improve following pound flotation
Banks operating in the local market have begun to ease restrictions set earlier on Egyptians’ use of US dollars abroad through cash and electronic payment cards. Commercial state banks including the National Bank of Egypt (NBE), Banque Misr, and Banque du Cairo were the first to make this move, and were followed by other banks …
EGX continues heading north in 3rd session after pound flotation, recording highest rates since 2010
The Egyptian Exchange (EGX) closed on Monday on high rises in the third session following the flotation of the Egyptian pound. The main index EGX30 closed with a hike of 5.38%—the highest rise since February 2010—registering 9,852.7 points. The market saw trading valued at EGP 2.1bn, which is the highest since April 2010, with 688.9m …
Democratic Current parties study potential call for general strike ahead of 11 November protest calls
Free Egyptians Party launches “work for Egypt” initiative to face protest calls
Fuel subsidy cost to increase to EGP 64bn following pound’s flotation: Petroleum Minister
The cost of the petroleum product subsidies will increase to EGP 64bn in the current fiscal year (FY) of 2016/2017 in the wake of the Egyptian pound flotation and global oil price hikes, Minister of Petroleum Tarek El-Molla said. The government estimated the value of petroleum products for the current fiscal year’s budget at roughly …
Electricity Ministry may cease negotiations for new equipment purchases following pound flotation
Offers and prices of companies changed after the US dollar exchange rate appreciated, say sources
Pound flotation, increase in energy prices to revive Egypt’s economy: World Bank
The World Bank said on Saturday that the liberalisation of the Egyptian pound and an increase in energy prices will help Egypt create jobs and revive the economy. The Central Bank of Egypt (CBE) decided on Thursday to liberalise the national currency’s exchange rate and leave its value to the mechanisms of supply and demand. …