economy
CBE foreign reserves decline $2bn at end of December
Economy
January 8, 2019
CBE foreign reserves decline $2bn at end of December
The foreign reserves of the Central Bank of Egypt (CBE) lost about $2 billion at the end of December. Egypt’s…
Oil price plunge threatens Iraq recovery
Middle East
January 1, 2019
Oil price plunge threatens Iraq recovery
BAGHDAD (AP) — The latest plunge in oil prices has dealt a heavy blow to Iraq’s stagnating economy, threatening the…
Lebanese protest over economy and politics
Middle East
December 24, 2018
Lebanese protest over economy and politics
BEIRUT (Reuters) – Several hundred Lebanese people protested in Beirut on Sunday over the state of Lebanon’s economy and politics…
Builders bruised by Dubai real estate market woes
Middle East
December 19, 2018
Builders bruised by Dubai real estate market woes
DUBAI (Reuters) – Dubai’s real estate downturn is forcing construction and engineering firms to cut jobs and halt expansion plans,…
Egypt, World Bank sign $1 billion agreement to support private sector
Business
December 19, 2018
Egypt, World Bank sign $1 billion agreement to support private sector
The Egyptian government and the World Bank signed a US $1 billion agreement to support the Egyptian private sector…
Saudi king extends allowances as living costs rise
Middle East
December 18, 2018
Saudi king extends allowances as living costs rise
RIYADH, Saudi Arabia (AP) — Saudi Arabia’s King Salman has extended monthly allowances for government employees, military personnel, pensioners,…
World feels sting of US Federal Reserve
Economy
December 18, 2018
World feels sting of US Federal Reserve
JAKARTA/BUENOS AIRES/WASHINGTON (Reuters) – When the US Federal Reserve kept lifting interest rates this year, a world away in Jakarta…
In 2019, Mideast economic troubles loom as wars wind down
Economy
December 18, 2018
In 2019, Mideast economic troubles loom as wars wind down
AMMAN, Jordan (AP) — As the Middle East ushers in 2019, the decade’s ruinous conflicts in Syria, Yemen, Libya…
Economists praise CBE’s decision to issue plastic notes by 2020
Economy
December 9, 2018
Economists praise CBE’s decision to issue plastic notes by 2020
The Central Bank of Egypt (CBE) announced on Wednesday that the government would issue LE5 and LE10 plastic banknotes…
Egypt’s governmental reforms bring economic stability: IFC chief
Economy
December 8, 2018
Egypt’s governmental reforms bring economic stability: IFC chief
The International Finance Corporation’s (IFC) Chief Executive Officer Philippe Le Houérou announced on Saturday that government reforms introduced by…