CAIRO A small black market in the Egyptian pound has re-emerged in the last few days as the coronavirus takes a toll on the country's main sources of foreign currency, three bankers and businessmen said on Monday.
CAIRO, March 23 A small black market in the
Egyptian pound has re-emerged in the last few days as the
coronavirus takes a toll on the country's main sources of
foreign currency, bankers and businessmen said on Monday.
CAIRO The coronavirus outbreak is posing an increasing threat to Egypt's economy, with pressure on tourism, trade and gas exports coming on top of a longstanding failure to drum up private investment.
CAIRO, March 3 Egypt aims to sell a minority
stake in state-owned Banque du Caire in an initial
public offering (IPO) starting mid-April in a sale worth about
$500 million, provided investor interest holds up in the face of
the coronavirus, its chairman said.
DAMIETTA, Egypt Egypt has built a multi-billion-pound "furniture city" near the mouth of the Nile, a pilot for a series of industry mega-hubs it wants to throw up across the nation, but it could face a struggle to populate it.
CAIRO/DUBAI Saudi Telecom Co (STC) , the kingdom's biggest telecom operator, has struck a preliminary deal to buy Vodafone Group's 55% stake in Vodafone Egypt for $2.4 billion, as it seeks growth in the Arab world's most populous nation.
CAIRO Egypt's economy is likely to grow 5.8% in the current fiscal year ending on June 30, and 5.9% in 2020/21, according to a Reuters poll - an improvement on the previous poll three months ago.
CAIRO Egypt wants to create an investment arm to channel funds to projects along the Suez Canal to take advantage of proximity to one of the world's busiest shipping lanes, the chairman of The Suez Canal Economic Zone (SCZone) said.
CAIRO, Dec 18 Egypt approved a plan on Wednesday
to turn over an abandoned historic area under Cairo's towering
12th-century Islamic citadel to its new sovereign wealth to
develop for tourism and culture, a cabinet statement said.
* Operating concession of Siemens-built power plants to be