Central Bank of Egypt says the country’s core inflation rate rose to 31.24% in January
The Central Bank of Egypt said the country’s core inflation rate rose to 31.24% in January from 24.4% in December. Bank data showed that the Consumer Price Index recorded a monthly rate of 6.3% last January, compared to 0.8% in…
UN Special Rapporteur criticizes Egyptian authorities for blocking human rights group website
On Friday, the UN Special Rapporteur on the situation of human rights defenders, Mary Lawlor, criticized the Egyptian authorities for blocking the Cairo Institute for Human Rights Studies website after it published a report critical of the human rights situation…
Gulf and Egyptian business people refuse to sponsor World Youth Forum
Sources have said that the main reason behind the cancellation of the fifth edition of Egypt’s World Youth Forum was the refusal of Gulf and Egyptian businessmen to sponsor the conference. According to sources, the prevailing trend among Gulf business…
Qatar to acquire primary Egyptian container and cargo handling companies
Press reports have said that the Qatar Investment Authority submitted an offer to the Egyptian Ministry of Transport to acquire more than 50% stake in the state-owned Port Said and Damietta container and cargo handling companies. Qatar agreed with the…
The Egyptian parliament approves a new loan from the Export-Import Bank of Korea
On Tuesday, the Egyptian parliament approved a loan from the Export–Import Bank of Korea, at about $60,642,000, to finance the improvement of a train line. The loan repayment period is 40 years, with an interest rate of 1.7% and a…
AFP highlights inflation effect on Egypt’s middle class
AFP reported that the spectre of poverty is approaching the middle class in Egypt amid a devaluation of the local currency and increasing inflation, which prompts them to change their lifestyle radically. The US dollar reached 32 Egyptian pounds at…
Cairo International Book Fair: Recurrent book bans
On Sunday, Egyptian security authorities demanded the publishing director of Dar Al-Muntada, Sayed Saber, to stop printing, selling and distributing a book on the history of the Zionist movement at the Cairo International Book Fair. According to Saber, the authorities…
Enterprise: Analysts expect the Central Bank of Egypt to raise interest rates
On Sunday, the Egyptian business newsletter, Enterprise published the results of a survey of economists on the economic, financial and monetary situation in Egypt. Analysts expected the Central Bank of Egypt to raise interest rates at its next meeting on…
The Economist: To save Egypt’s economy, get the army out of it
On Thursday, The Economist published a report on the economic situation in Egypt and pointed to the deep crisis in the country. “To the list of spectacular ruins across Egypt, you can now add its economy. The Egyptian pound lost…
CBE offers three-year treasury bills with 17.25% interest
On Wednesday, the Central Bank of Egypt said it had offered three-year treasury bonds with a variable interest rate linked to the bank’s deposit, lending, and credit rates currently stand at 16.25%, 17.25%, and 16.75%, respectively. According to experts, the…
Recent Comments