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Egypt
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Society
2/6/2024 6:46:02 PM
Dollar exchange rate and Red Sea tensions are among key reasons behind the significant surge in coffee prices that Egypt has been recently witnessing, Hassan Fawzy, head of the Coffee Division at Cairo Chamber of Commerce, said on Tuesday.
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Business
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Economy
2/5/2024 6:58:33 PM
The Central Bank of Egypt (CBE) announced Monday an increase in the reserves of foreign currencies by about 30 million dollars.
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Business
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Economy
2/4/2024 9:14:27 PM
The US dollar recorded a noticeable drop against the Egyptian pound in the parallel market, reaching approximately EGP 55 over the past few hours, down from a recent peak of EGP 72 in the past few days, according to media reports.
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Business
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Economy
2/1/2024 8:35:31 PM
Global investment banks Goldman Sachs and Pictet Asset Management issued recommendations urging investors to purchase Egypt's US dollar-denominated bonds, according to a report by Bloomberg.
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Business
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Economy
2/1/2024 3:52:05 PM
The National Bank of Egypt (NBE) has launched a new debit card for customers with US dollar accounts, named Visa Platinum, to facilitate customers' overseas purchases, according to a statement released by the state-owned bank on Thursday.
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Business
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Economy
2/1/2024 1:02:03 PM
The 12-month non-deliverable forward contracts for the Egyptian pound against the US dollar surged to an all-time high of EGP 63, with short-term contracts also following this upward trend, according to Bloomberg.
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Business
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Economy
1/31/2024 4:36:22 PM
The US dollar rate in Egypt’s currency parallel market has soared to a new peak, hitting EGP 72 per USD, multiple sources in the local market reported to Ahram Online.
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Business
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Markets & Companies
1/30/2024 10:50:19 PM
Benchmark US crude oil for March delivery rose $1.04 to $77.82 per barrel Tuesday. Brent crude for March delivery rose 47 cents to $82.87 per barrel.
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Al-Ahram Weekly
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Opinion
1/30/2024 9:34:52 PM
Gamal Wagdy advises against securitising dollar revenues from Egypt’s main hard-currency earners like the Suez Canal
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Business
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Economy
1/30/2024 5:43:05 PM
Egypt's state-owned Banque Misr (BM) has issued a new debit card exclusively for US dollar accounts, named Visa Platinum, enabling account holders to make purchases inside or outside of Egypt with a monthly limit of $20,000, an informed source at the bank told Ahram Online (AO).
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World
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War in Ukraine
1/30/2024 3:14:39 PM
European Union nations have decided to approve an outline deal that would keep in reserve the profits from hundreds of billions of dollars in Russian central bank assets that have been frozen in retaliation for Moscow's war in Ukraine, an EU official said.
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Business
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Markets & Companies
1/29/2024 11:35:52 PM
Benchmark US crude oil for March delivery fell $1.23 to $76.78 per barrel Monday. Brent crude for March delivery fell $1.15 to $82.40 per barrel.
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Business
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Economy
1/28/2024 1:39:31 PM
Egypt is poised to issue bonds denominated in the local currency (Hong Kong dollar) on the Hong Kong Stock Exchange, Minister of Finance Mohamed Maait said on Saturday.
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Sports
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World
1/27/2024 5:22:48 PM
Struggling Lyon announced on Saturday they had signed former Chelsea and Manchester United midfielder Nemanja Matic from Ligue 1 rivals Rennes for a fee of 2.6 million euros (2.8 million dollars).
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Egypt
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Foreign Affairs
1/25/2024 4:15:34 PM
Egypt's President Abdel-Fattah El-Sisi said on Wednesday the domestic crisis is not the outcome of prioritization. Nevertheless, the crunch has proven beneficial in identifying a definitive solution to the dollar problem.
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Egypt
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Politics
1/24/2024 4:46:28 PM
President Abdel-Fattah El-Sisi said Egypt faces a recurring dollar shortage crisis every few years primarily due to the government providing basic services to citizens in the Egyptian pound while needing to purchase them in dollars.
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Business
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Economy
1/24/2024 1:11:51 PM
The Egyptian pound’s forward exchange rate against the US dollar for one-year contracts reached a new peak at EGP 54.26 on Tuesday, according to Reuters.
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Business
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Markets & Companies
1/23/2024 11:21:51 PM
Benchmark US crude oil for March delivery fell 39 cents to $74.37 per barrel Tuesday. Brent crude for March delivery fell 51 cents to $79.55 per barrel.
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Business
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Economy
1/23/2024 3:38:14 PM
Stock markets diverged and oil prices retreated Tuesday as Chinese officials reportedly mull action to bolster its flagging economy.
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Business
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Markets & Companies
1/22/2024 11:12:35 PM
Benchmark US crude oil for February delivery rose $1.78 to $75.19 per barrel Monday. Brent crude for March delivery rose $1.50 to $80.06 per barrel.
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