economy

Arab Air Carriers Organization reveals sector's losses in 2020, recovery scenarios

Sat, 12 Sep 2020 - 11:33 GMT

The AACO displayed on Saturday the figures the industry is expected to record in the cases of a speedy recovery and a slow one.

Al Mashat, EBRD unveil Economic Recovery Plan for 2021-2025 to Push for Green, Inclusive and Digitalized Future

Sat, 12 Sep 2020 - 10:07 GMT

EBRD and Egypt have fostered a strong partnership over the years with the purpose of implementing several projects to accelerate the pace of Egypt’s development journey.

Moody's rating reflects confidence on Egypt's economy: Finance Min.

Thu, 03 Sep 2020 - 03:27 GMT

Ma’it clarified Thursday that the economic reform program provided a measure of resilience to the Egyptian economy that enables it to interact with internal and external challenges and shocks.

Trust of Moody's Corporation in performance of Egyptian economy reflects efficiency of govt measures: PM

Thu, 03 Sep 2020 - 11:23 GMT

Moody’s expects that a significant improvement in debt affordability and reduced gross financing needs would see the rating being upgraded.

Egypt’s credit rating reflects resilient, diversified economy: Moody’s

Wed, 02 Sep 2020 - 03:34 GMT

It added that relatively low levels of foreign currency-denominated and external government debt also support Egypt's credit profile.

Indonesia's investments in Egypt hit $111.6M: gov't

Wed, 02 Sep 2020 - 01:13 GMT

Indonesia's investments are concentrated in 22 projects in the fields of industry, construction, services, communications and information technology.

Planning minister praises economic, trade cooperation with Iraq

Wed, 02 Sep 2020 - 11:50 GMT

The minister's statements came in a press release issued by the ministry on Wednesday on the outcome of a meeting with Iraqi Ambassador here Ahmed Nayef Al Dulaimy to discuss joint cooperation.

Egypt, Indonesia seek boosting economic cooperation

Wed, 02 Sep 2020 - 11:48 GMT

The minister discussed at the meeting with Indonesian ambassador enhancing economic cooperation in the fields of trade and industry.

IMF expects Egyptian growth rate to hit 6.4% in FY 2021/2022

Wed, 02 Sep 2020 - 11:37 GMT

The IMF issued a report on Tuesday on the files related to Egypt's obtaining of an emergency financial assistance of dlrs 2.77 billion to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic.

Planning Min, Iraqi Amb discuss cooperation in economy, investment

Tue, 01 Sep 2020 - 04:42 GMT

Iraqi Ambassador to Cairo Ahmed Nayef al-Dulaimi discussed Tuesday with Minister of Planning Hala al-Saeed ways of cooperation between both countries in the fields of economy and investment.

Egypt one of main emerging markets in maintaining positive growth rate: Fitch Solutions

Sun, 23 Aug 2020 - 03:13 GMT

Egypt’s Cabinets highlighted in an infographic according to the latest Fitch Solutions report for the fourth quarter of 2020.

Russian direct investments in Egypt record $7.4 during 2020

Sun, 23 Aug 2020 - 02:48 GMT

Borisenko confirmed that Russian companies are interested in enhancing cooperation with Egyptian businessmen in the local market, which he described as very attractive for investment.

Egypt's Bourse gains EGP 8.7 bn, all indexes up in one week

Thu, 20 Aug 2020 - 12:46 GMT

The market capital gained EGP 8.7 billion to reach EGP 616.6 billion compared with EGP 607.9 billion in the previous week, recording an increase of 1.4%.

Sisi directs flexible paths to achieve economic cohesion in light of coronavirus pandemic

Wed, 19 Aug 2020 - 08:39 GMT

Sisi also directed to continue working on the continuous improvement of economic and financial indicators, especially inflation and employment rates, as well as increasing GDP growth rates, according to a presidential statement.

ICT sector records growth rate of 15% despite of COVID-19: Min.

Tue, 18 Aug 2020 - 05:11 GMT

This came during closing events of the training year 2019-2020 organized by the Information Technology Institute (ITI) under the title (Young Egyptian Minds).

Bank Misr to take part in presidential initiative to boost consumption

Mon, 17 Aug 2020 - 01:08 GMT

The three-month initiative was launched late July with the aim to activate sales through discounts offered by men of industry and trade, the bank said in a statement.

Egypt's unemployment rate records 9.6% in Q2 2020: CAPMAS

Mon, 17 Aug 2020 - 10:53 GMT

CAPMAS attributed the increase to ramifications of coronavirus crisis and the precaution measures taken by the government.

Egypt, Sudan determined to bring their nations closer than ever with electric, railway tie-up

Sun, 16 Aug 2020 - 07:09 GMT

Railway and electrical tie-up are some of ambitious projects discussed by Egyptian Prime Minister Mustafa Madbouly and Sudanese officials in strong determination to bring Egypt and Sudan closer than ever.

Molla: Natural gas very important for economic growth

Tue, 11 Aug 2020 - 02:32 GMT

He added in statements during signing a contract of supplying natural gas to the industrial area in Eastern Port Said between the General Authority for the Suez Canal Economic Zone and Sinai Company for Gas that his ministry is working to benefit from natural gas for achieving social and economic development.

Egypt's banking system remained stable during COVID-19 pandemic: IMF

Tue, 11 Aug 2020 - 12:58 GMT

The system was liquid, profitable, and well capitalized heading into the crisis, but risks around banks’ loan portfolios, capital costs, and profitability have increased due to the economic slowdown.

More