PM Madbouly instructs ministers to begin repayment of Petroleum Ministry's arrears by next week

Tue, 28 May 2024 - 11:49 GMT

The repayment schedule will follow a prearranged agreement between the government and its international partners

Interest expenses on Egypt's debts record LE392.8B within 6 months

Tue, 07 Mar 2023 - 02:44 GMT

Debt expenditures accounted for 42 percent of Egypt's total expenditures during the six months, amounting to LE 940.8 billion.

LE 51B needed to settle debts, develop spinning, weaving companies: PM

Mon, 13 Feb 2023 - 06:40 GMT

This came during a press conference held on the sidelines of his current tour to inspect the development projects at a number of spinning and weaving factories in El Mahalla El Kobra in Gharbia.

Egypt not threatened by its inability to pay its debts

Tue, 13 Dec 2022 - 05:45 GMT

It referred to the increase in tourism revenues by 121.1 percent, to rise to $10.7 billion, in addition to the significant increase recorded in the Suez Canal revenues, which amounted to about $7 billion in the same period.

CBE allocates LE 61 million to pay off debts of female debtors as per presidential initiative

Fri, 31 Dec 2021 - 01:35 GMT

Minister of Justice Omar Marwan has communicated with Governor of the CBE Tarek Amer on the issue, according to an official statement.

Sisi announces Egypt’s participation in international initiative to settle Sudan debts

Mon, 17 May 2021 - 07:54 GMT

Sisi says Egypt spares no effort to support sustainable peace, development in Sudan

PM reviews measures to settle NIA debts owed to government bodies

Sun, 28 Jul 2019 - 03:32 GMT

This comes as part of the government's efforts to resolve all financial disputes, el Saeed added.

Eid al-Fitr's released debtors: victimized by circumstances

Thu, 06 Jun 2019 - 02:25 GMT

Many Egyptian mothers ended up being in prison because of them being the sole breadwinner of the family.

Debts of Qatar, Turkey paid in full: CBE

Mon, 04 Feb 2019 - 10:44 GMT

Deputy Governor of the Central Bank of Egypt (CBE) Lobna Helal announced that deposits of Arab countries in the bank amount to $17 billion.

Timing of gov’t offering depends on stock’s price: Minister

Tue, 04 Dec 2018 - 04:45 GMT

The first phase of the government’s IPO program includes additional stake sales of five State-Owned Enterprises (SOEs).

Debts to oil companies reached $1.2B by end of June

Thu, 05 Jul 2018 - 03:20 GMT

The minister added that debts to foreign companies are set to be fully paid by the end of 2019, hoping to pay them sooner.

Egypt to repay $700M in debt to Paris Club in January

Thu, 04 Jan 2018 - 10:39 GMT

The repayment is a part of a bi-annual installment owed to the group, usually paid in January and July.

Petroleum ministry's debt down to $3.2B in 2017

Sun, 31 Dec 2017 - 09:32 GMT

The figure is well less than $6.3 billion recorded in 2013.

Ezz Steel's losses deepen in 9 months

Thu, 14 Dec 2017 - 09:20 GMT

The company's liquidity stood at LE 5.02 billion, while net debts reached LE 18.9 billion.

Business news wrap-up

Sat, 02 Dec 2017 - 05:32 GMT

A wrap-up for the most prominent business news of the day.

Gov’t agrees to defer tourism sector’s debts

Wed, 22 Nov 2017 - 02:41 GMT

The government has agreed on the deferral of debts owed by the tourism sector in the governorates of South Sinai, Luxor and Aswan.

Orascom Development plans to settle some of its debts in 2018

Sat, 18 Nov 2017 - 12:16 GMT

The company wants to repay between LE 700 million and LE 1 billion of its debt in 2018

Government entities owe LE 100B to Petroleum Ministry

Sun, 05 Nov 2017 - 10:12 GMT

The Ministry of Petroleum is in debt to foreign oil companies operating in Egypt. By June, the receivables to foreign partners had reached $2.3 billion.

Government to discuss Eurobond issuance next week

Wed, 20 Sep 2017 - 05:13 GMT

Egypt plans to issue a third round of Eurobonds at a total value of $3-4 billion in the first quarter of 2018.

Africa’s economic growth down 1.7% in 2016: UNECA

Wed, 13 Sep 2017 - 06:19 GMT

The slowdown of the Chinese economy and higher global interest rates contributed to the decline in Africa’s economic growth.