#Egypt
The IMF said its Executive Board would consider the staff agreement and disbursement in the coming weeks
Egypt commercial banks’ foreign assets climbed by $606m in April while their liabilities rose by $653m
The discussions are expected to address the Israel-Gaza conflict, the Palestinian issue, and a potential free trade agreement between China and Gulf states
The chemical compound is a promising alternative to fossil fuels in industries where decarbonisation is challenging
The monetary policy committee left the lending rate unchanged at 28.25 per cent and the deposit rate at 27.25 per cent
The deal with Abu Dhabi sovereign fund ADQ to develop the peninsula 200 km west of Alexandria includes a total of $35bn in investments
Egypt promised the IMF in the March agreement it would resume tightening if necessary to prevent further weakening of its economy
The UAE’s Parkin Company raised the highest proceeds in the region for the quarter at $0.4bn
Fitch said Egypt’s initial steps to contain off-budget spending should help to reduce public debt sustainability risks
Egypt is expected to implement more financial reforms amid the country’s IMF bailout
Egypt has moved ahead with administrative realignment of the region after the country signed a $35bn FDI deal with the UAE’s ADQ earlier this year
Egypt allowed its currency to weaken sharply on March 6 after keeping it fixed to the dollar for nearly a year
The IMF forecasts that Egypt’s inflation will remain high in the near term, with average inflation for the coming fiscal year, expected at 25.5%
This robust financial footprint strengthens the UAE’s position as a significant global economic force
One of Egypt’s biggest banking and investment firms has recorded that its net profit after tax and minority interest rose 39 per cent year-on-year
Egypt’s commitment to exchange rate liberalisation combined with budgetary consolidation targets are crucial for boosting international confidence
The funding program will prioritise economic stability, investments and trade as well as migration and security
Moody’s on Thursday affirmed its CAA1 rating but changed its outlook on Egypt to positive citing significant official and bilateral support
Following the theme of its conference, EFG Hermes highlights opportunities available in frontier emerging markets
As many as 60 per cent of Egypt’s 106 million citizens are estimated to be below or close to the poverty line
The central bank raised the overnight lending rate to 28.25 per cent and its overnight deposit rate to 27.25 per cent
The project is expected to create significant job opportunities, attract further foreign investment, and contribute to the North African country’s tourism and economic growth potential
IMF spokesperson told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes
The deal, which is subject to regulatory approvals, is likely to be completed in the second half of this year
Non-OPEC output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned
Navigation movement in Egypt’s Suez Canal is regular from both directions, says a top official from that country
ADQ and ADNEC will invest in the company through a special purpose vehicle, with 49 per cent equity ownership by ADQ and 51 per cent equity ownership by ADNEC
The collaboration will see AD Ports Group investing $3m over 15 years in the management and operation of the three cruise terminals to provide new services, improve access for cruise operators and add new itineraries
The Suez Canal is an important source of dollar revenues for Egypt
The 810,000 square metre project will have a dock length of 1,100 metres and a depth of 17 metres