FINANCE & ECONOMY

30 Jul 2016

Egypt CB keeps key interest rates unchanged

Egypt’s central bank kept its key interest rates unchanged, two days after Cairo said it was close to a three-year $12 billion IMF lending deal to ease its funding problems and restore market stability.

Egypt said on Tuesday it was seeking to secure an IMF loan programme, which would extend $4 billion a year at an interest rate of 1 or 1.5 per cent....

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30 Jul 2016

Egypt MPs Submit Resolution to Recognize Armenian Genocide

Chairman of the Armenian National Committee of Egypt Armen Mazlumyan says the Egyptian Parliament shows positive signs over the recognition of the Armenian Genocide.


“For years we are carrying out works and are presenting the real picture of the Armenian Genocide to various circles of society including the"......

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30 Jul 2016

Egypt's endowments ministry urges employees not to speak to media on standardised Friday sermons

The ministry of religious endowments called on all of its employees, including its leadership, not to speak to the media on the unified pre-written Friday sermons except with the official approval of the head of the religious sector in the ministry if necessary.

In a Friday statement,"...

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30 Jul 2016

Ethiopian mega-dam project leaves Egypt high and dry

It’s like negotiating the rules of engagement long after the contest has been held and the winner declared.


Egypt is deeply worried about the impact on its water supply of a dam being built by Ethiopia far to the south, on the Blue Nile.


......

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30 Jul 2016

Egypt's 'examgate' exposes its chaotic education system

High school finals are always a terrifying prospect for Egyptian students. After cheat sheets were leaked this year, the exams turned into a nightmare for Mariam Khaled.


She had gone home to sleep after finishing an exam."......

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30 Jul 2016

Egypt asks for $12-billion loan as economy nears collapse

Egypt is in the "final stages" of negotiating an agreement with the International Monetary Fund to secure a $12 billion loan over three years, while targeting more loans totalling $7 billion annually.


...

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30 Jul 2016

Feature: Dollar crisis casts shadow on auto sales in Egypt

The automotive market in Egypt has been experiencing an unprecedented wave of price hikes due to a dollar crisis amid anticipation by analysts that the Egyptian pound would be further devaluated by the Central Bank.


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30 Jul 2016

Egypt's wheat reserves sufficient until early February 2017 - ministry

Egypt’s total reserves of wheat are sufficient until early February 2017, said Supply Ministry on Friday.


Citing a statement by the ministry, state-run MENA news agency reported that the wheat reserves are enough to provide subsidized flour to about 26,000 local bakeries across Egypt, which produce about"......

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30 Jul 2016

Parliament plan to meet with Egypt, Greece, Israel on energy

Cyprus plans to propose a four party meeting between the parliamentary foreign affairs committees of the island, Greece, Egypt, and Israel on Friday, where they plan to have the four countries discuss energy issues, chairman of the island’s committee Yiorgos Lillikas said.

Members of the Foreign Affairs Committee in Cyprus met with the heads of...

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30 Jul 2016

Russia, Egypt Transport Ministers Discuss Aviation Security at Regular Talks

Russian Transport Minister Maxim Sokolov discussed aviation security measures with his Egyptian counterpart, Civil Aviation Minister Sherif Fathi, the Russian ministry said Friday.

Russian Transport Minister Maxim Sokolov discussed step-by-step aviation security measures at regular"...

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