Egypt’s foreign exchange reserve down to $33bn
Thursday, the Central Bank of Egypt said Egypt’s foreign exchange reserves decreased by $2.12 billion in June, reaching $33.375 billion. CBE announced last month that the reserve decreased by $1.63 billion in May, reaching $35.5 billion, compared to $37.1 billion…
UK minister Lord Ahmed demands Egypt release Alaa Abdel Fattah
During a meeting with Egyptian Foreign Minister Sameh Shoukry last Monday, Lord Ahmad of Wimbledon, Minister for South Asia, North Africa, the United Nations, and the Commonwealth at the UK Foreign, Commonwealth & Development Office, discussed the case of detained…
Annual inflation in Egypt hits 14.7% in June
On Thursday, the Central Agency for Public Mobilization and Statistics stated that the annual inflation rate during June was 14.7%, compared to 13.5% in May and 5.3% in June 2021. Food prices rose in big jumps, led by cereals and…
Aboul Fotouh has a new health crisis in prison
Monday, Hudhayfa Aboul Fotouh, son of the Strong Egypt Party leader and former presidential candidate Abdel Moneim Aboul Fotouh, said his father had a health crisis in his detention in Tora Prison. “I just came back from Tora Prison… My…
The government is considering raising diesel prices for the first time in 3 years
The Egyptian government is studying a proposal from the Ministry of Petroleum to the Council of Ministers to raise diesel prices for the first time in three years. This coincides with the start of the new fiscal year and the…
NYT: Destruction of Nile houseboats removes parts of country’s history
Owners of boat houses on the Nile River in Cairo denounced the governmental decision to remove boat houses by force and fine the owners with up to $50,000, reported the New York Times. “This week may be their last sharing…
Egypt’s parliament approves the Saudi Investment Fund’s acquisition of Egyptian state assets
Sunday, the House of Representatives approved an agreement signed by Abdel Fattah al-Sisi on March 30 with Saudi Arabia. The kingdom can own assets and acquire commercial entities in Egypt through the Saudi Investment Fund. The head of the Economic…
Major Amir Ibrahim: Second Egyptian officer killed by ISIS in Sinai in 2 weeks
Saturday, a prominent Egyptian officer of the Egyptian military was killed in an attack by ISIS’s local branch, Sinai Wilayat, in the middle of Sinai. Tribal sources added that clashes between Egyptian military corps, military-sponsored tribal militias and Sinai Wilayat…
Net foreign assets in Egypt decreases down to minus EGP 305 billion
Friday, the data of the Central Bank of Egypt showed that net foreign assets recorded about minus 305.1 billion pounds last May, with a decrease of about 67.7 billion pounds from April. This is the eighth consecutive monthly decrease in…
Abu Dhabi Ports acquires 70% of two Egyptian maritime transport companies
Friday, Abu Dhabi Ports Group acquired 70% of the shares of the International Associated Cargo Carrier, the owner of Transmar and Transcargo International. The group said the deal is another significant step toward expanding its geographical reach and increasing the…
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