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Emirates Heights denies non-compliance allegations

Emirates Heights, a touristic real estate developer, hosted a roundtable with representatives from the Egyptian press to clarify the company’s position, after a series of protests against the company were triggered weeks ago, against the backdrop of late delivery of residential units in addition to a 30 per cent increase in units prices. Chairman of …

Islam Serour

Ministry of Finance to issue more FRNs

The Ministry of Finance has reported it will issue an additional EGP one billion in Floating Rate Notes (FRNs) by the beginning of October. FRNs are bonds with a variable interest rate that changes every six months and is tied to a certain money-market index. According to experts, FRNs provide protection to investors against drops …

Islam Serour

USD exchange rate skyrockets

Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004

Daily News Egypt

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