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Economy

Egypt's GASC draws offers from seven suppliers at wheat tender

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), received offers from seven suppliers ...

Egypt's supply minister resigns amid criticism over wheat procurement, five-star hotel stay

Egypt’s minister of supply and internal trade announced his resignation on Thursday amid criticism from MPs over ...

Egypt cannot afford to postpone tough economic reforms: Sisi

There is no time to postpone economic reforms that should have been put in place years ago, Egypt's President Abdel-Fattah ...

Egyptian pound remains stable against US dollar in weekly auction

CBE has been holding a weekly auction since March, offering $120 million, to sell USD to local banks, in an attempt to provide hard currency for imports

Egypt closed 53 forex bureaus since beginning of year: CBE

A total of 53 foreign exchange bureaus have been closed since the start of the year, deputy governor at the Central Bank ...

Egypt's VAT bill to be finalised next week, MPs sticking to 12pct rate

The VAT bill delay was attributed to its controversial rate of 14 percent

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Egypt's OTMT reports H1 loss

Egypt's Orascom Telecom Media and Technology Holding reported a net loss of EGP 3.635 million ($409,000) for the first ...

Egypt sold three-year treasury bonds worth EGP 31 bln

Egypt sold three-year treasury bonds worth 31 billion Egyptian pounds ($3.49 billion) with a fixed annual yield of 16 ...

Iran yet to decide on OPEC limits: Ministry source

Iran has yet to take any decision on whether to set a ceiling on oil production or take part in a planned OPEC meeting ...

Sudanese pound falls to record low against dollar on black market

The Sudanese pound dropped to a record low on Wednesday, according to ‎currency ‎traders, as the official banking ...

Egypt's Orascom Construction Q2 net falls to $26.4 mln

Egypt's Orascom Construction reported a 25 percent fall in second quarter net income to $26.4 million on Wednesday. The ...

UAE offers $1 billion deposit to Egypt's central bank: Emirati news agency

UAE has offered a deposit worth $1 billion to the Central Bank of Egypt (CBE) lasting for six years, Emirati news agency ...

Egypt sees eurobond yield at 5.5-6 pct for Sept/Oct issuance

Egypt expects its eurobond issuance at the end of September or early October to have a yield between 5.5 percent and 6 ...

Egypt govt to hold public auction for 37,000 feddans of recovered land

The first auction for land recovered by the state will start on Sunday, according to Ibrahim Mahlab, the head of the committee ...