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Business
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Economy
3/12/2024 4:26:09 PM
The US dollar rate against the Egyptian pound declined on Tuesday by approximately 1.5 percent to EGP 48.8/1 USD for selling, compared to EGP 49.5/1 USD recorded a week ago and EGP 49/1 USD seen on Monday, according to the rates on the Central Bank of Egypt (CBE)’s website.
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Business
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Markets & Companies
3/11/2024 11:35:37 PM
Benchmark US crude oil for April delivery fell 8 cents to $77.93 per barrel Monday. Brent crude for May delivery rose 13 cents to $82.21 per barrel.
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Business
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Economy
3/11/2024 9:55:04 PM
Bitcoin raced to an all-time peak above $72,000 Monday as the world's most popular cryptocurrency won further support on greater trading accessibility and dollar weakness.
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Business
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Economy
3/7/2024 8:04:00 PM
The Egyptian pound averaged EGP 49.3 against the US dollar in most major banks at the closing of Thursday's trading just 24 hours after the Central Bank of Egypt (CBE) floated the local currency against the greenback.
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Business
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Economy
3/7/2024 6:23:25 PM
Prime Minister Mostafa Madbouly explained the government’s plan to eliminate the dollar gap, the crackdown on the parallel market, and the expected decrease in commodities prices, in a press conference after overseeing goods release at the Alexandria Port on Thursday.
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Business
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Markets & Companies
3/7/2024 10:52:44 AM
Benchmark US crude oil for April delivery rose 98 cents to $79.13 per barrel Wednesday. Brent crude for May delivery rose 92 cents to $82.96 per barrel.
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War on Gaza
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War on Gaza
3/6/2024 7:36:10 PM
Canada will restore funding to the United Nations Relief Agency for Palestinians (UNRWA), a government official tells The Associated Press, weeks after the agency lost hundreds of millions of dollars in support following Israeli allegations against some of its staffers in Gaza.
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Business
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Economy
3/6/2024 4:41:00 PM
The Egyptian pound experienced a significant drop on Wednesday, declining by 62 percent to approximately EGP 50.1 against the US dollar and EGP 54.5 against the euro.
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Business
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Economy
3/6/2024 1:03:57 PM
Egypt and the International Monetary Fund (IMF) are expected to finalize a multi-billion dollar loan agreement within the next few hours, said a senior source close to talks.
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Business
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Markets & Companies
3/5/2024 11:24:57 PM
Benchmark US crude oil for April delivery fell 59 cents to $78.15 per barrel Tuesday. Brent crude for May delivery fell 76 cents to $82.04 per barrel.
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Al-Ahram Weekly
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Economy
3/5/2024 9:07:26 PM
Niveen Wahish reviews the positive economic impacts of the Ras Al-Hekma deal signed last week
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Business
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Markets & Companies
3/4/2024 11:09:50 PM
Benchmark US crude oil for April delivery fell $1.23 to $78.74 per barrel Monday. Brent crude for May delivery fell 75 cents to $82.80 per barrel.
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Al-Ahram Weekly
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Egypt
3/3/2024 11:46:00 PM
The timing of the purchase of the development rights to Ras Al-Hekma on Egypt’s North Coast by the Abu Dhabi Sovereign Wealth Fund could not have been better for the economy.
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Al-Ahram Weekly
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Egypt
3/3/2024 11:26:00 PM
A multi-billion-dollar deal gives the government breathing space but much work needs to be done.
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Business
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Economy
2/24/2024 9:54:00 PM
Egypt signed with the UAE on Friday its largest ever direct direct investment partnership deal meant to develop the Ras El-Hekma region into the first-of-its-kind Mediterranean urban community.
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Business
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Economy
2/23/2024 3:59:08 PM
Egypt and Emirati investors signed on Friday a historic deal to build a multi-billion new state-of-the-art city of Ras El Hekma as a new massive urban, business and tourism centre in the country's North Coast.
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Business
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Markets & Companies
2/20/2024 11:16:12 PM
Benchmark US crude oil for March delivery fell $1.01 to $78.18 per barrel Tuesday. Brent crude for April delivery fell $1.22 to $82.34 per barrel.
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Business
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Economy
2/18/2024 6:38:38 PM
Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country.
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Business
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Economy
2/12/2024 1:13:33 PM
The Central Bank of Egypt (CBE) released a series of measures meant to regulate the use of credit cards by Egyptians abroad. Under the new instructions, customers who fail to provide documented evidence of credit card use during their stay abroad within a maximum period of 90 days will be subject to a series of measures, including the suspension of their credit card and being listed on a platform managed by the Egyptian Credit Bureau.
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Al-Ahram Weekly
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Economy
2/12/2024 10:33:00 AM
People across the country were stunned by the sharp hikes in food prices last week.
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