IMF says Egypt’s external debt will rise to 39.6% of the GDP

The International Monetary Fund (IMF) has said that Egypt's external debt will rise to 39.6% of GDP in the current fiscal year, compared to 37.3% in the...

Shrinking in Egypt: Layoffs and work reduction in Egyptian companies

Bloomberg has said that Egyptian companies are reducing production and staff numbers due to the devaluation of the local currency, which the government was forced to do...

Massive violations of media freedom in Egypt in 2022

The Arab Observatory for Media Freedom has noted the continuous detention of journalists and the shutdown of news websites in a recent report on media freedom in...

Egyptian Air Force orders 12 Boeing helicopters worth $426 million

On Tuesday, Boeing said the Egyptian Air Force had purchased 12 Boeing CH-47 Chinook helicopters in a $426 million deal. The aircraft will be delivered starting in...

Qatar’s Kuwari Group to acquire Ramses Hilton Hotel in Egypt

Asharq Business has reported that the Qatari Al-Kuwari International Group submitted an offer to the Arab International Company for Hotels and Tourism (AICHT) to buy the famous...

PMI at 47.2: Non-oil private sector in Egypt continues to contract

Under the pressure of inflation, the weakness of the local currency, and the continued restrictions on imports, the activity of the non-oil private sector in Egypt continued...

Following the new undeclared devaluation of the Egyptian pound, the US dollar hit 26.45...

Wednesday, the Egyptian pound's exchange rate dropped against the US dollar. That US dollar price was 26.45 pounds, up from 24.75 pounds a day ago. The new...

Central Bank of Egypt sells $850 million dollar-denominated treasury bills

On Tuesday, the Central Bank of Egypt sold $850 million dollar-denominated treasury bills. The treasury bills' interest increased to 4.64-4.651%, compared to 4.59-4.6% in the last similar...

ISIS Sinai Province claims responsibility for Ismailia terrorist attack

The Islamic State (IS) has claimed responsibility for an attack on a security point in Ismailia that took place on Friday, killing three police officers and wounding...

Misr Cement Qena workers protest low wages

On Saturday, rights groups said Misr Cement Qena workers began a sit-in, protesting their working conditions. Last month, the company's workers organized a protest to demand the...