Economy

Cairo, Egypt – 11 February 2024:  Visa, a world leader in digital payments, announced the signing of a Memorandum of Understanding (MoU) with Egyptian Banks Co. for Technological Advancements (EBC), …

Despite a slowdown in funding for African startups in 2024, there are signs of underlying growth and promise, particularly in Egypt. Data from the “Africa: The Big Deal” report reveals …

Saudi Arabia’s Savola Group intends to distribute its entire 34.52% shareholding in regional dairy giant Almarai to eligible Savola shareholders. The distribution will follow a 6 billion riyals ($1.6 billion) …

Chairman Jun Su Jung revealed that Samsung Electronics’ exports from Egypt amount to $700 million during his meeting with Egyptian Prime Minister Mostafa Madbouly. He added that the company is …

Egypt’s Prime Minister, Mostafa Madbouly, stated that Egypt is looking for expanded cooperation with the World Bank. During a recent meeting with World Bank officials, Madbouly stressed Egypt’s commitment to …

The Central Bank of Egypt (CBE) announced Monday an increase in the reserves of foreign currencies by about 30 million dollars. The CBE put the total reserves of foreign currencies …

The Egyptian pound has experienced a soaring by 39% against the US dollar within a few days. This dramatic rise has driven down the exchange rate of the US currency …

Egypt’s Ministry of Social Solidarity partnered with multiple banks to organize “Diarna” exhibitions at bank headquarters. This is a step is taken in a joint effort to foster financial inclusion …

It is hardly unexpected that the International Monetary Fund mission is staying longer in Egypt given the severity of the economic crisis and the urgency with which a viable agreement with creditors …

The US dollar recorded a noticeable drop against the Egyptian pound in the parallel market, reaching approximately EGP 55 over the past few hours, down from a recent peak of …