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Business
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Economy
2/8/2023 3:15:30 PM
For the first time since May 2022, Moody’s has downgraded Egypt’s credit rating, Egypt's long-term foreign- and local-currency issuer ratings, from B2 to B3, changing the outlook from negative to stable, Moody’s Investors Service said on Tuesday.
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Al-Ahram Weekly
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Economy
2/7/2023 10:19:42 PM
The Central Bank of Egypt has opted to keep interest rates unchanged to give the market a chance to digest the effects of the hikes it introduced last year, writes Doaa Abdel-Moneim
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Business
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Economy
2/6/2023 6:04:45 PM
Egypt’s real GDP growth is expected to moderate to three percent in 2023 with a higher inflationary wave anticipated over the year, Fitch Solutions said in its MENA Monthly Outlook report shared with Ahram Online.
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Business
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Economy
2/3/2023 3:59:46 PM
Could Egypt lower its dependency in the short term on "hot money" as a source of securing liquidity in foreign exchange amid the government's plan to focus on attracting more direct investments in a longer term strategy for strengthening the economy? Ahram Online asked various analysts.
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Business
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Economy
2/3/2023 11:27:00 AM
Egypt’s balance of payments (BOP) witnessed an improvement in the first quarter of FY2022/2023 (July-September), as the current account deficit has narrowed by 20.2 percent to post $3.2 billion compared to $4 billion in the same period of the preceding fiscal year, the Central Bank of Egypt (CBE) announced on Thursday.
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Business
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Economy
2/2/2023 11:13:00 PM
In its first meeting in 2023, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to maintain unchanged the current interest rates.
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Business
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Economy
2/2/2023 10:16:33 PM
The Egyptian pound has continued its slip against the US dollar for the fourth day in a row, hitting 30.3 for 1 USD, according to the official exchange rate of the Central Bank of Egypt (CBE) on Thursday.
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Business
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Economy
2/1/2023 2:12:56 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is scheduled to convene on Thursday, the first meeting in 2023, to review the key interest rates in light of the recent updates in the country’s macroeconomy.
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Business
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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.
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Business
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Economy
1/30/2023 9:42:59 PM
Egypt aims to have a gross domestic product (GDP) growth rate of 5 percent and 6 percent in 2024 and 2025 respectively, Prime Minister Mostafa Madbouly said in the opening speech of CI Capital’s Seventh Annual MENA Investor Conference on Monday.
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Business
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Economy
1/30/2023 12:25:01 PM
Egypt's Ministry of Agriculture and Land Reclamation, in cooperation with the Central Bank of Egypt (CBE), has secured over the past week the release from ports of 135,000 tons of corn and soy fodder with an estimated value of $91 million.
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Al-Ahram Weekly
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Egypt
1/23/2023 9:59:00 AM
A week after the third devaluation of the pound in nine months, what is the outlook for the local currency?
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Business
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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.
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Al-Ahram Weekly
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Egypt
1/17/2023 10:22:31 PM
How will the unprecedentedly high interest rates on certificates of deposit affect the economy as a whole, asks Nahla Abul-Ezz
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Business
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Economy
1/16/2023 5:54:53 PM
Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, increasing the country’s reserves of hard currency in addition to an increase from the local market, Egyptian expats remittances, and the tourism sector, the Central Bank of Egypt said on Monday.
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Business
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Economy
1/16/2023 4:56:56 PM
The National Bank of Egypt (NBE) and Banque Misr are set to stop the issuance of the certificates of deposit (CDs) with 25 percent annual yield before the end of January as the proceeds have covered the target, the two banks announced on Monday.
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Business
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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.
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Business
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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.
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Opinion
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Opinion
1/11/2023 4:25:00 PM
There is no doubt that the Egyptian economy is going through some challenging times.
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Al-Ahram Weekly
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Egypt
1/11/2023 4:15:00 PM
Action is being taken to protect the local currency, but this may not help to rein in inflation.
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