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Business
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Markets & Companies
5/21/2025 10:51:00 PM
Despite a slight rise in new vehicle registrations this spring, industry experts say policy restrictions, import bottlenecks, and lingering effects of the currency crisis continue to suppress real supply and demand, leaving the sector running on fumes.
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Egypt
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Politics
5/6/2025 3:01:38 PM
President Abdel-Fattah El-Sisi stressed the importance of increasing Egypt’s foreign currency reserves and reducing external debt during a meeting on Tuesday with Prime Minister Mostafa Madbouly, Governor of the Central Bank of Egypt (CBE) Hassan Abdallah, and Finance Minister Ahmed Kouchouk, a presidential statement said.
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Opinion
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Opinion
4/30/2025 9:44:51 AM
The primary threats to the dollar’s supremacy come from US policymakers and not from any major external menace to the currency.
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Al-Ahram Weekly
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Opinion
4/16/2025 10:06:00 AM
The disappearance of the British pound as an international reserve currency after the end of World War II offers lessons for the dollar today.
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Business
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Economy
4/12/2025 9:01:10 PM
Amid global market volatility and mounting domestic economic pressures, the Egyptian pound (EGP) is undergoing one of its most sensitive phases since the 2016 currency floatation.
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Business
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Economy
4/12/2025 12:35:50 PM
Fitch Ratings has affirmed Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B' with a stable outlook. This decision reflects a nuanced assessment of Egypt's economic landscape, balancing its strengths against a set of challenges.
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World
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Region
4/5/2025 5:27:41 PM
Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower.
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Business
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Economy
3/6/2025 6:34:01 PM
For the first time in years, foreign currency inflows into Egypt have matched expenditures, signalling economic stability, Prime Minister Mostafa Madbouly announced on Wednesday.
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World
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Region
3/2/2025 2:59:47 PM
Iran's parliament sacked the country's finance minister on Sunday after impeaching him over soaring inflation and a plunging currency, state television reported.
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Business
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Economy
2/20/2025 12:46:21 PM
Moody's Ratings affirmed Egypt's long-term foreign and local currency issuer ratings at Caa1 with a positive outlook in its rating report published on Wednesday.
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Business
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Economy
11/2/2024 1:13:10 PM
Fitch Ratings announced on Friday that it has upgraded Egypt's long-term foreign-currency Issuer Default Rating (IDR) from B- to B, with a stable outlook.
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Business
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Economy
10/25/2024 4:27:39 PM
Raising the yields on US dollar-denominated certificates and other deposits by Banque Misr does not indicate an expected devaluation of the local currency or problems regarding the availability of the US dollar in the local market, financial market analyst Ahmed Moaty told Ahram Online.
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Al-Ahram Weekly
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Opinion
10/22/2024 11:23:51 PM
While Egypt’s international reserves are on the rise, there is still a need for more stable sources of foreign currency, writes Gamal Wagdy
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Business
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Economy
10/22/2024 5:03:38 PM
Egypt's portfolio flows have been net positive in recent months, with significant inflows into local currency bonds despite the ongoing debt challenges and high inflation, according to the Global Financial Stability Report released Tuesday by the International Monetary Fund (IMF).
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World
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Africa
9/22/2024 3:42:30 PM
In a small fashion store in Ethiopia's capital, Medanit Woldegebriel's dresses have almost doubled in price in the past two months, sending customers fleeing.
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Business
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Economy
9/10/2024 2:58:08 PM
The National Bank of Egypt (NBE) and Banque Misr announced Monday that they raised foreign currency spending limits on credit cards for transactions outside Egypt to $5,000 (EGP 300,000).
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Business
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Economy
8/22/2024 2:58:59 PM
The Central Bank of Egypt (CBE) denied in a statement the circulating news about setting new limits on the daily and monthly foreign exchange (FX) withdrawals starting in September.
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Business
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Economy
8/19/2024 8:55:19 PM
President Abdel-Fattah El-Sisi issued a decree to renew the tenure of Hassan Abdallah as the Central Bank of Egypt's (CBE) acting governor for a third term, according to the Official Gazette.
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Business
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Economy
8/19/2024 1:07:34 PM
Egypt will issue a EGP 2 note in FY2024/2025 to facilitate holding the small currency, according to Asharq Business with Bloomberg.
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Opinion
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8/9/2024 7:31:30 PM
In 1971, US Treasury Secretary John Connally famously told his counterparts in the G10 that “the dollar is our currency, but it’s your problem.”
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