Economy

“Don’t be alarmed if the exchange rate increases”: Egypt’s Prime Minister

“Don’t be alarmed if the exchange rate increases”: Egypt’s Prime Minister

Prime Minister Mostafa Madbouly addressed concerns about the Egyptian pound’s exchange rate during a press conference on Thursday. He assured…
US dollar exchange rate against Egyptian pound at major banks

US dollar exchange rate against Egyptian pound at major banks

As of Sunday, the Egyptian Pound has maintained its stability against the US Dollar at the beginning of banking transactions.…
US dollar exchange rate against Egyptian pound at Egypt’s major banks on Sunday

US dollar exchange rate against Egyptian pound at Egypt’s major banks on Sunday

The US dollar exchange rate against the Egyptian pound remained stable at the beginning of trading on Sunday. The greenback…
Nasr Company for Automobiles restarts production after a 15-year hiatus

Nasr Company for Automobiles restarts production after a 15-year hiatus

Prime Minister Mostafa Madbouly witnessed the inauguration of the bus manufacturing plant at the Nasr Company for Automobiles, affiliated with…
Egypt’s balance of gold in foreign reserves at US$ 11 billion

Egypt’s balance of gold in foreign reserves at US$ 11 billion

The Central Bank of Egypt (CBE) announced on Monday that the balance of gold in Egypt’s foreign reserves rose to…
Egypt pays US$1 billion in foreign oil companies’ dues

Egypt pays US$1 billion in foreign oil companies’ dues

A government source said on Sunday that Egypt has paid one billion dollars in overdue dues to foreign oil companies…
IMF will not impose conditions on Egypt over subsidizing: Minister

IMF will not impose conditions on Egypt over subsidizing: Minister

Egyptian Minister of Supply and Internal Trade Sherif Farouk told Al-Masry Al-Youm, on the sidelines of the annual conference of…
Egypt, UAE begin agreements including development of Hamra Port

Egypt, UAE begin agreements including development of Hamra Port

Egyptian Ministry of Petroleum and Mineral Resources and the government of the Fujairah Emirate in the UAE began implementing the…
Why is the US dollar rising in Egypt?

Why is the US dollar rising in Egypt?

Economists have attributed the recent rise in the US dollar against the Egyptian pound to a combination of domestic and…
No major devaluation planned for the Egyptian Pound: Cabinet Spokesperson

No major devaluation planned for the Egyptian Pound: Cabinet Spokesperson

Cabinet Spokesperson Counselor Mohamed al-Hamasy stated that Prime Minister Mostafa Madbouly clearly indicated in the weekly press conference that Egypt…
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