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Latest in Tag: dollar

Build better roads to feed more people

By Dr. Bjørn Lomborg Almost one-quarter of all food in the world is lost each year, from harvesting and storage to wastage in the consumer’s kitchen. In sub-Saharan Africa, about 21% of all food is wasted. If we could halve the sub-Saharan waste, we could feed an extra 100 million people. We can expect almost a …

Daily News Egypt

Ahmed M El-Wahsh

Bilateral Agreements with Russia: Elimination of the US dollar

By Ahmed M El-Wahsh In light of recent events and happenings across Cairo – from the Tahrir memorial to the deaths at the Air Defence Stadium and Vladimir Putin’s visit – Egypt faces an unsettling currency change against its Egyptian pound to the American dollar. With that being said, the Russian leader met with Abdel …

Daily News Egypt

Egypt business activity shrinks in May: PMI

Reuters – Business activity in Egypt shrank for the third month in a row in May, a poll showed on Tuesday, in a sign the economy remains fragile as former army chief Abdel Fattah Al-Sisi is set to become the country’s next president. Egypt’s economy has been hit by more than three years of political and …

Daily News Egypt

Sabahy’s bottom dollar bet

By Johannes Amin Makar For some time, a bit of an insane mind seemed requisite for one to enter the presidential race in Egypt. Various indicators contradicted a fair battle, and for many, contesting Al-Sisi had everything of a nutty business. The sanity claim appeared to be honoured when the little credible Mortada Mansour announced his …

Daily News Egypt

Egyptian pound strengthens at central bank Forex sale

Reuters – The Egyptian pound strengthened at a central bank dollar auction on Monday after hitting a six-month low last week. The central bank sold dollars at a cut-off price of EGP 6.9649, slightly stronger than the EGP 6.9651 at its last auction on Thursday. But the dollar sold on the black market for EGP  …

Daily News Egypt

Egyptian pound inches up on official, steady on black market

Reuters – The Egyptian pound was up slightly at a central bank foreign currency sale on Thursday and traded within its recent range on the black market. The central bank sold $39.6m to banks with a cut-off price of 6.9511 pounds to the dollar, fractionally stronger than the cut-off price of 6.9512 from Wednesday’s auction. …

Daily News Egypt

Egypt sells 1-year dollar bills, yields fall from last month

Reuters – The Egyptian government sold $1.1bn of one-year dollar treasury bills at an auction on Monday, with the average yield dropping to 2.474%, the central bank said. Submitted bids amounted to $1.37bn. The Ministry of Finance had set the issue size at $800m. On 12 January, Egypt sold $1.07bn of the same maturity at …

Daily News Egypt