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" EGP"

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Business - Economy
2/2/2023 2:07:57 PM
The dollar and euro exchange rates to the EGP were stable at the beginning of Thursday's transactions at Egypt's major banks, with the dollar recording an average of EGP 30.2 and the euro registering EGP 33.2.

Business - Economy
1/30/2023 10:50:07 PM
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit (CDs) offered by Banque Misr and the National Bank of Egypt (NBE) garnered EGP 460 billion in less than a month, said Chairman of the Federation of Egyptian Banks and Banque Misr Mohamed El-Etreby said.

Business - Economy
1/30/2023 8:57:13 PM
The Egyptian pound slipped to a new low at over EGP 30 against the US dollar on Monday as the country battles rising inflation and a shortage in foreign currency sparked by the global economic crisis.

Business - Markets & Companies
1/29/2023 3:57:54 PM
For the first time in its history, the Egyptian Exchange (EGX) market capital exceeded on Sunday EGP 1.1 trillion prompted by strong activities of major stocks in the banking, communications, real estate and industrial domains.

Business - Economy
1/26/2023 5:24:00 PM
The presidency’s National Initiative for Developing Egyptian Industry (Ebda, or "Start" in English) aims to add new investments worth EGP 200 billion to the industrial sector, Mina William, executive director of the initiative, told the state’s official news agency MENA.

Egypt - Tourism
1/25/2023 5:59:28 PM
Prime Minister Mostafa Madbouly instructed making the best use of modern real estate wealth in Egyptian tourist and new cities by transforming these assets into tourist units and hotel rooms to maximise individual tourism.

Business - Economy
1/24/2023 5:11:22 PM
The Sovereign Fund of Egypt (TSFE) has inked two agreements with Egypt-based private equity firm, B Investments Holding (BIH), to co-invest over EGP 2 billion (around $67.5 million) in the healthcare and pharmaceuticals sector.

Business - Markets & Companies
1/22/2023 4:58:14 PM
Egyptian Exchange (EGX) indexes went up collectively at the close of Sunday's trading, pushed by selective purchases from local institutions and investment funds, as well as Arab individuals.

Business - Economy
1/21/2023 1:35:41 PM
The Central Bank of Egypt (CBE) is set to offer treasury bills (T-bills) with a combined value of EGP 35 billion through two auctions on Sunday.

Egypt - Courts & Law
1/20/2023 2:01:22 PM
Egypt’s Court of Cassation reduced on Thursday sentences against prominent businessman and former MP Hassan Rateb to three years in addition to a EGP 1 million fine for illegally excavating and trafficking in antiquities.

Business - Economy
1/19/2023 3:20:34 PM
Russia's central bank has added nine currencies to its list of exchange rates against the ruble, including the Egyptian pound, starting 18 January.

Business - Economy
1/18/2023 10:50:00 PM
Egypt's Prime Minister Mostafa Madbouly said the cost of wheat subsidies will reach EGP 95 billion by the end of the year, up from EGP 38 billion.

Business - Economy
1/18/2023 4:56:38 PM
Egypt has raised the price of local wheat procurement for the new harvest season, which starts in April 2023, by 42 percent to hit EGP 1,250 per ardeb (1 ardeb= 150kg), up from EGP 880.

Business - Economy
1/18/2023 1:39:36 PM
Egyptian banks’ regulatory capital ratios, especially in private banks, can withstand further Egyptian pound depreciation because of their healthy internal capital generation, Fitch Ratings said in a note on Tuesday.

Business - Economy
1/12/2023 5:04:07 PM
The Egyptian pound is continuing to witness significant fluctuations against the US dollar on Thursday, surpassing EGP 30 in a number of foreign and Arab banks operating in the Egyptian market.

Business - Economy
1/11/2023 7:10:35 PM
Prices for 21-karat gold in Egypt reached a record-high price of EGP 1,820 on Wednesday, an increase of 6.4 percent compared to a day earlier, according to the Egyptian Gold and Jewellery Trade Division in the Egyptian Federation of Egyptian Chambers of Commerce.

Business - Economy
1/11/2023 5:38:00 PM
In a dramatic performance on Wednesday, the Egyptian pound hit its lowest-ever price of EGP 31 against the US dollar, losing over 100 percent of its value since March before slowing down to EGP 29.63 at the Central Bank of Egypt (CBE) and major banks.

Business - Economy
1/9/2023 4:56:21 PM
The Egyptian pound continued its downward trend on Monday, depreciating by 50-60 piastres against the US dollar in major banks.

Business - Economy
1/8/2023 2:16:31 PM
Proceeds from the 25 percent saving certificates launched on Wednesday by the National Bank of Egypt (NBE) and Banque Misr (BM) reached nearly EGP 100 billion in only 48 hours, NBE Vice Chairman Yahia Abou El-Fotouh said on Saturday.

Egypt - Urban & Transport
1/5/2023 7:05:04 PM
Egypt needs EGP 70 trillion to achieve the aspirations of Egyptians for decent standards of living, Egyptian President Abdel-Fattah El-Sisi said on Thursday while inaugurating several projects under the umbrella of Decent Life initiative in Upper Egypt's Sohag governorate, including Sohag Educational Hospital.

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