Edition:
International

Patrick Werr

Egypt plans big rail expansion, nears agreement with Bechtel

Dec 01 2020

CAIRO Egypt is rushing ahead with plans for an expansion of its metro and railway networks and is near agreement with Bechtel Corp to implement Cairo's sixth metro line, Transport Minister Kamel al-Wazir said on Monday.

Sudan inflation soars, raising spectre of hyperinflation

Nov 29 2020

CAIRO Inflation in Sudan has risen to one of the highest levels in the world, and the country risks slipping into hyperinflation unless it gets its budget deficit and money supply under control, economists say.

Sudanese banks take first steps to end decades of isolation

Nov 17 2020

CAIRO Sudanese banks have started moves to re-establish relations with foreign banks as the United States prepares to remove Sudan from its state sponsor of terrorism (SSOT) list, although bankers and analysts say the process will likely be slow.

Sudanese banks take first steps to end decades of isolation

Nov 17 2020

CAIRO, Nov 17 Sudanese banks have started moves to re-establish relations with foreign banks as the United States prepares to remove Sudan from its state sponsor of terrorism (SSOT) list, although bankers and analysts say the process will likely be slow.

Egypt central bank expected to leave interest rates unchanged: Reuters poll

Nov 10 2020

CAIRO Egypt's central bank is forecast to leave its main interest rate unchanged at a meeting on Thursday, though a large minority of analysts expect a cut of 50 basis points against an inflation backdrop at multi-year lows, a Reuters poll showed.

POLL-Egypt's economy seen slowing in 2020/21

Oct 27 2020

* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=EGGDPAP GDP poll data

Egyptian bank CIB says chairman stepping down

Oct 23 2020

CAIRO Commercial International Bank (CIB) Chairman Hisham Ezz al-Arab is stepping down with immediate effect under orders from the central bank, which cited compliance concerns at the Egyptian lender as it approved his successor's appointment on Friday.

Deep falls in Egypt's inflation could prompt IMF consultation

Oct 06 2020

CAIRO Egypt's inflation has fallen to some of its lowest levels in well over a decade, potentially triggering consultations with the International Monetary Fund under the conditions of a new $5.2 billion loan.

Egypt cuts highways across pyramids plateau, alarming conservationists

Sep 15 2020

MEMPHIS, Egypt Egypt is building two highways across the pyramids plateau outside Cairo, reviving and expanding a project that was suspended in the 1990s after an international outcry. | Video

Currency black market re-emerges in Egypt as coronavirus spreads

Mar 24 2020

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.

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