subsidy cuts

IMF urges Egypt to maintain tight monetary policy to ward off inflation
Business

IMF urges Egypt to maintain tight monetary policy to ward off inflation

  Egypt should maintain tight monetary policy to contain the risk of inflation as a result of fuel and electricity…
President Sisi calls on Egyptians to endure tough subsidy cuts
Egypt

President Sisi calls on Egyptians to endure tough subsidy cuts

  President Abdel Fattah al-Sisi urged Egyptians to bear the new challenges of the recent subsidy cuts from the government in…
Egypt increases cost of water by up to 50%
Egypt

Egypt increases cost of water by up to 50%

Egypt’s Prime Minister Sherif Ismail signed off on Wednesday to raise drinking water and sewage fees starting August by as…
Egypt Reserves Reach Record High of Over $36 Billion
Economy

Egypt Reserves Reach Record High of Over $36 Billion

Egypt’s foreign reserves reached $36.036 billion in July, a record high, which the prime minister described as “good news” as…
Private sector still faces “risks” after EGP devaluation: Financial Times
Business

Private sector still faces “risks” after EGP devaluation: Financial Times

Factories and entrepreneurs in Egypt are still facing tremendous “risks” after the flotation of the Egyptian pound in November 2016, the…
Increase in electricity consumption despite price hikes
Egypt

Increase in electricity consumption despite price hikes

Electricity distribution companies have begun printing consumer bills for July, the first month that the new increases will be implemented,…
Uber fares in Egypt increase following fuel price hike
Technology

Uber fares in Egypt increase following fuel price hike

The San Francisco-based ride-hailing company Uber increased their base fare prices in Egypt to start at LE6, with the aim of…
Ride-hailing app Careem raises base fare to LE5.5
Technology

Ride-hailing app Careem raises base fare to LE5.5

Following the fuel subsidy cuts, ride-hailing service app Careem has increased their base fares on to start at LE5.5 —…
Egypt raises electricity prices and prolongs subsidies for added three years
Egypt

Egypt raises electricity prices and prolongs subsidies for added three years

Egypt will hike household electricity prices by up to 40 percent this fiscal year, but will keep energy subsidies in…
In surprise move, CBE hikes key interest rates
Business

In surprise move, CBE hikes key interest rates

The Central Bank of Egypt raised its key interest rates by 200 basis points on Sunday, citing stronger economic growth…
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