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Al-Ahram Weekly
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Economy
1/2/2024 8:30:22 PM
Efforts to stem the parallel market for dollars are continuing, reports Niveen Wahish
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Business
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Economy
1/2/2024 4:06:53 PM
Egypt has set a target of attracting $12 billion in foreign direct investments (FDIs) during the fiscal year (FY) 2023/2024, which ends in June, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), said on Tuesday.
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Business
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Economy
12/27/2023 8:11:30 PM
If you deal in the parallel market of the currency, you should beware of “frozen dollar” notes, which are invalid currency with deactivated serial numbers.
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Business
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Markets & Companies
12/26/2023 11:50:34 PM
Benchmark US crude oil for February delivery rose $2.01 to $75.57 per barrel Tuesay. Brent crude for February delivery rose $2 to $81.07 per barrel.
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Business
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Economy
12/26/2023 4:36:15 PM
Despite the country’s strategic reserve of pharmaceuticals, some Egyptians, especially those with chronic diseases, are still struggling to find the medicines they need.
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Business
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Economy
12/23/2023 6:43:27 PM
Global central banks’ reserves of US dollars declined to 59.2 percent during the third quarter of 2023 from 59.4 percent the previous quarter, the lowest figure since Q4 of 2022, according to the latest data released by the International Monetary Fund (IMF).
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Business
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Economy
12/20/2023 4:24:11 PM
Dahab Masr projects that the price of 21-carat gold in Egypt will cross EGP 3,000 before mid-2024, as indicated in a technical analysis report released by the company on Wednesday.
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Business
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Economy
12/19/2023 7:33:38 PM
The Egyptian pound’s forward exchange rate against the US dollar for one-year contracts reached a new peak at EGP 50.5 on Tuesday, according to Asharq Bloomberg.
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Al-Ahram Weekly
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Economy
12/19/2023 5:56:24 PM
A year of trials and errors and then the war on Gaza. Niveen Wahish reports on the way international events have impacted the Egyptian economy
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Business
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Markets & Companies
12/18/2023 11:39:11 PM
Benchmark US crude oil for January delivery rose $1.04 to $72.47 per barrel Monday. Brent crude for February delivery rose $1.40 to $77.95 per barrel.
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Business
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Economy
12/16/2023 7:54:53 PM
British bank HSBC projected the Egyptian pound to experience devaluation, reaching EGP 40-45 against the US dollar, during the first quarter of 2024, according to a report by the bank on Friday.
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Egypt
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Society
12/16/2023 2:09:08 PM
Egypt's Prime Minister Mostafa Madbouly issued a decree on Saturday mandating that foreigners seeking tourist and non-tourist residency provide evidence of payment, in dollars or equivalent foreign currencies, for residency fees, late fines, or expenses related to residence card issuance.
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Al-Ahram Weekly
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Egypt
12/12/2023 11:30:33 PM
The decision to allow the sale of real estate in foreign currencies is contributing to Egypt’s dollar crunch, according to industry experts, reports Safeya Mounir
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Business
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Markets & Companies
12/12/2023 10:39:27 PM
Benchmark US crude oil for January delivery fell $2.71 to $68.61 per barrel Tuesday. Brent crude for February delivery fell $2.79 to $73.24 per barrel.
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Business
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Markets & Companies
12/11/2023 10:45:02 PM
Benchmark US crude oil for January delivery rose 9 cents to $71.32 per barrel Monday. Brent crude for February delivery rose 19 cents to $76.03 per barrel.
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Business
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Markets & Companies
12/5/2023 11:55:06 PM
Benchmark US crude oil for January delivery fell 72 cents to $72.32 per barrel Tuesday. Brent crude for February delivery fell 83 cents to $77.20 per barrel.
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Business
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Economy
12/5/2023 8:23:06 PM
Gold prices experienced a slight decline on Tuesday, trading $100 below the previous session's record high, as investors are eagerly awaiting upcoming US economic data, which could potentially impact the Federal Reserve's rate outlook.
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Business
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Markets & Companies
12/4/2023 3:37:35 PM
The Egyptian Exchange (EGX) rebounded on Monday after the mixed performance yesterday. The main index gained around 700 points.
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Business
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Markets & Companies
12/4/2023 3:25:35 PM
Gold hit a record high on Monday as growing optimism that the Federal Reserve will cut US interest rates in 2024 has dented the dollar in recent weeks.
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Business
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Economy
11/30/2023 7:30:56 PM
The USD declined slightly against the Egyptian pound in the parallel market, hovering around EGP 49.5, as the Central Bank of Egypt (CBE) injected $2 billion to regulate the market, a source from the import sector who preferred not to be named told Ahram Online on Thursday.
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