Tag: EgyptFeatured

  • African Export-Import Bank lends Egypt $500 million

    African Export-Import Bank lends Egypt $500 million

    Egypt’s ministry of commerce and industry announced that it has signed an agreement of cooperation with the Cairo-based African Export-Import Bank. According to the agreement, Egypt will get funds worth $500 million designed to facilitate trade between Egypt and other member states of the 37-country bank. Tarek Kabil, minister of industry and foreign trade, said […]

  • Russia signs deal to supply Egypt with onboard defence system

    Russia signs deal to supply Egypt with onboard defence system

    Russia signed a deal with Egypt Friday to supply the latter with “President-S” Onboard Defence Systems (ODS) to protect Egypt’s aviation from antiaircraft missile systems and air-launched missiles. The deal was announced during a press conference Friday with Russian first deputy director of Concern Radio-Electronic Technologies (KRET) Igor Nasenkov. “There is a contract and we […]

  • Egypt’s central bank dollar sales total $7.6 bln in recent weeks, official says

    Egypt’s central bank dollar sales total $7.6 bln in recent weeks, official says

    Egypt’s central bank has sold $7.6 billion in recent weeks to make it easier for importers pay for goods, an official told state news agency MENA on Tuesday, as a currency crisis and foreign exchange curbs that have hurt trade persist. Some of that sum was also used to pay off foreign investors in dollars, […]

  • World Bank approves $5B loan to Egypt

    World Bank approves $5B loan to Egypt

    The World Bank has agreed on a new $5 billion loan package to Egypt, the International Cooperation Minister Sahar Nasr announced during an event where the Prime Minister Sherif Ismail singed for the first tranche of $3 billion to the country. The World Bank will loan Egypt $8 billion overall in a series of payments, […]

  • Egyptian Exchange records Gains worth US$332 million

    Egyptian Exchange records Gains worth US$332 million

    Egypt’s stocks closed higher on Tuesday with gains worth 2.6 billion Egyptian pounds (US$332 million). The market capitalization has reached 488.081 billion pounds during the closing session of Tuesday. Indices Egypt’s benchmark index, EGX30 increased by 0.79 percent to 7949.89 points. EGX20 went up by 0.81 percent to 7933.35 points. In addition, the mid- and […]