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ISRAEL AT WAR - DAY 491
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Egyptian economy
Advertisement
March 17, 2024, 9:37 pm
Visiting Cairo, EU president says Gaza ‘facing famine,’ calls for ‘rapid’ ceasefire
President Sissi says Egypt and European leaders stand against IDF operation in Rafah, after meeting heads of several countries at signing of $8.1 billion funding package
By
Agencies
February 15, 2023, 6:39 am
Strapped for cash, Egypt sells off state assets to eager Gulf nations
Kuwait, Qatar, Saudi Arabia and the United Arab Emirates are swooping in to buy shares in national companies, while also demanding economic reform and greater transparency
By
Bassem Aboualabass
January 10, 2023, 1:33 pm
Inflation in Egypt continues to skyrocket, leaving citizens struggling to buy basics
Statistics bureau shows annual inflation at 21.9% last month, up from 19.2% in November, with fruits and dairy products seeing highest spikes among food items
By
Samy Magdy
October 27, 2022, 4:08 pm
Egypt, IMF reach preliminary deal for $3 billion loan to fight soaring inflation
Hours before announcement of agreement, central bank hikes key interest rates by 2%, implements more flexible exchange rate system, as Cairo commits to initiate reforms
By
AP
August 17, 2022, 8:54 pm
Egypt’s central bank governor resigns as inflation batters economy
Fallout from Russia’s invasion of Ukraine, high oil prices, drop in tourists contribute to Egyptian pound’s falling value
By
SAM MAGDY
August 1, 2022, 4:45 pm
Egyptian pound crashes to near all-time low as inflation soars
Central bank buying 1 dollar for 19 pounds, in a country where almost one-third of the population lives below the official poverty line
By
AFP
November 11, 2019, 11:36 am
Egypt to discreetly mark Suez Canal’s 150th anniversary
Cairo prefers to underscore the newly expanded waterway’s present-day contributions to the country – $5.9 billion in annual revenue – rather than its history of colonialism and war
By
Emmanuel Parisse
November 11, 2019, 8:02 am
A century and half on, Suez Canal is ‘lifeline’ for Egypt
2015 expansion of the canal first opened in 1869 has cut transit time from 22 hours to 11 and opened the vital waterway to the largest container ships in the world
By
AFP
December 23, 2018, 3:05 pm
After delays, Egypt’s new mega-museum set to open in 2020
Vast complex will eventually hold some 50,000 artifacts, house a cinema, restaurants and a hotel in bid to help draw tourists back to the country after years of chaos
By
Brian Rohan
November 18, 2018, 11:00 am
Undersea gas fires Egypt’s regional energy dreams
Newly flowing gas from four Mediterranean fields, including the vast Zohr field, as well as deals with Israel and Cyprus, has helped ease Cairo’s financial woes
By
Mona Salem
June 17, 2018, 3:03 pm
Egypt hikes fuel prices as part of austerity drive
Prices up 35%-50% after electricity subsidies slashed amid economic reform
By
AFP
June 16, 2018, 1:07 pm
Risking protests, Egypt raises price of fuel as part of austerity measures
Recent tough actions by Sissi have won praise from economists and business leaders but have come as a heavy blow to poor and middle-class Egyptians
By
Samy Magdy
June 6, 2018, 8:51 am
Egyptians suffer austerity squeeze as economy stabilizes
A hike in public transport fares already brought street protests, and now the cost of drinking water and energy is set to rise
By
Mona Salem
May 20, 2017, 2:04 pm
Food cart shut down? Ask Egypt’s president
El-Sissi uses TV appearances to project image as tough leader, but also as a ‘regular guy’ in touch with the public
By
Hamza Hendawi
May 11, 2017, 1:38 pm
Egypt says inflation has risen to 31.5 percent
Citizens are bearing the brunt of a struggling economy and the government’s tough economic measures
By
AP
and
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