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Euro was up to 1.1764 US dollar from 1.1721 dollars in the previous session, and the British pound increased to 1.2961 dollars from 1.2943 US dollars
Deposit growth fell to 11.34% in May from 11.46% in April
Monetary easing can help stimulate domestic demand, which in turn benefits other countries by increasing demand for their goods. The concern, however, is that monetary easing also weakens a country’s exchange rate, making exports more competitive and reducing demand for other countries’ imports as they become more expensive—a phenomenon known as expenditure switching
Notably, China’s share of inbound FDI rose steadily from 5.4% in 2013 to 10.5% in 2017.
US currency lost over EGP 1 since beginning of 2019, including 34 piasters in May
we expect Egypt to continue to tap the eurobond market annually, including in 2019 and again in 2020, along with more infrastructure-linked loans.
Attracting more FDIs, boosting exports, main recommendations, say experts
Corporation aims to invest up to $1bn in FY 2018/19, says Labadi
Total currency issued by the Central Bank of Egypt (CBE) amounted to EGP 462.855bn by the end of August 2017, compared to about EGP 445.898bn in July 2017, an increase of about EGP 17bn. According to the CBE, the issued currency to gross domestic product (GDP) ratio was 11.36% in August, compared to 10.95% in …
EGX30 sours 63% in a year as cheap stocks attract attention from foreign funds
The Egyptian private sector is feeling the squeeze after the currency flotation on higher inflation rates and a 700 bps interest rate hike, according to a recent report published by The Financial Times newspaper. “Despite making Egypt an attractive destination to some foreign investors, the combination of the float, inflation, and the hikes have driven …
Importers of medicines and commodities priced upon the US dollar’s official rate are the most affected; the government is facing the same problem
Social protection is a cornerstone of the IMF programme, any cuts in food subsidies are not advised
This move would aim to enhance the flexibility of collection
EFG Hermes One on One aims to provide a suitable platform to review the most promising investment opportunities and developments in the economic markets in the Middle East and North Africa, representing one of the largest investment events of its kind in the region
To reduce dollar shortage crisis at banks, the foreign currency deposit cap was raised to $250,000 a month for companies importing basic goods, according to Ghorab
The CBE decision included high-priority products, such as pharmaceuticals, production inputs, raw materials, food, and industrial machinery, excluding other luxury goods.
Around $26bn of Egyptian imports are categorised as “essential”
Political and economic turbulences in some export countries reduced exports’ revenues, company expands in new markets
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
International reserves record lowest level in 1.5 years
Between Bitcoin and gold, the “Islamic State” is experimenting with currency, marking a new step in its state crafting ambitions. But will the latest move further embed it amid international efforts to uproot the group?
It will be available to the public by end of August
The CBE granted the banks $98.6 in an auction launched Sunday