Egypt Independent The Ambassador of Japan to Cairo Masaki Noke signed a memorandum of understanding with Minister of International Cooperation Rania al-Mashat on Monday, whereby the Government of Japan will provide a loan of 25 Billion Japanese yen (US$240 Million) to develop Egypt’s electricity sector. The loan agreement was signed …
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Egypt Independent US dollar–Egyptian pound exchange rates in banks across Egypt increased in favour of the dollar on Tuesday. The exchange rate for US dollars at the Central Bank of Egypt (CBE) was set at £E15.87 for purchase and £E15.97 for sale, compared to £E15.83 for purchase and £E15.80 for …
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Doaa Moneim – Ahram Online The Monetary Policy Committee (MPC) at the Central Bank of Egypt’s (CBE) decided to keep overnight deposit rate, overnight lending rate and the rate of the main operation unchanged at 9.25%, 10.25% and 9.75%. The discount rate was kept unchanged at 9.75%. CBE said the …
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Egypt Independent The executive board of the International Monetary Fund (IMF) has approved Egypt’s request for emergency financial assistance of US$2.772 Billion, to meet urgent balance of payment support due to COVID-19 pandemic. An IMF statement on Monday said that the pandemic has brought about an immediate and severe economic …
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Doaa Moneim – Ahram Online The European Bank for Reconstruction and Development (EBRD) was the first international institution to respond to Egypt’s efforts to alleviate the economic impacts of the COVID-19 outbreak. In an exclusive interview with Ahram Online, held virtually from Jordan, Managing Director of the EBRD’s Southern and …
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Doaa Moneim – Ahram Online The Central Bank of Egypt (CBE) announced on Wednesday, raising the limit of daily cash withdrawals from ATMs to £E 20,000, up from £E 5,000, and from banks to £E 50,000, increased from £E10,000. The decision comes on the heel of an agreement with the …
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Egypt Today Moody’s Corporation said, it “expects the Egyptian economy will achieve a growth rate of 4.4% by the end of the current fiscal year”, according to a report by Moody’s on Tuesday. Moody’s said, “the economic reform program, adopted by the Egyptian government, is a major factor helping the …
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Hanan Mohamed – Egypt Today The Egyptian Stock Exchange (EGX) ended Tuesday in green for the second consecutive session, adding £E6.53 Billion to market capitalization, following increased Egyptian purchases. The benchmark EGX 30 jumped 104.44 points, to close at 10,458.16 points. The equally EGX 50 index climbed 33.15 points, to …
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Ahram Online The Egyptian Exchange (EGX) indexes continued collective gains amid transactions on Tuesday, backed by purchases of local institutions and investment funds. The market capital gained 6 Billion Egyptian pounds to hit £534.9 Billion. EGX 30 benchmark index jumped 1.02%, registering 9,618.97 points. While EGX 70 EWI index …
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Doaa Moneim – Ahram Online The Egypt Stock Exchange (EGX) began to recover, regaining close to £E20 Billion of its capital market losses over the past week amid the global COVID-19 outbreak crisis. The EGX recovery came following an initiative by the National Bank of Egypt (NBE) and Banque …
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