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Egypt left vulnerable after Qatari snub

By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …

Daily News Egypt

Egypt’s biggest oil debts

By Farah Halime, Rebel Economy   Egypt’s state oil company, the Egyptian General Petroleum Corporation, is in big trouble.  It has racked up billions of dollars of debt in the last decade with some estimating its dues to banks and oil companies is as high as $20 billion. The magnitude of EGPC’s debts is such …

Daily News Egypt

Exchange rate of USD reached a new peak

The price of U.S. dollars in Egyptian pounds reached record rates last Sunday. The exchange rate increased at exchange to EGP 6.07 for buying and 6.08 for selling for the first time in 7 years, compared to 6.06 for buying and 6.07 for selling the day before, according to the Central Bank of Egypt (CBE). …

Daily News Egypt

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