Latest in Highlight
Latest in
Foreign remittances reach $24.2bn a year since floatation
Increase among results of floatation, proof of confidence in Egyptian banks: CBE
Marseilia Group resumes sales in Hayat Alex Park project after halt due to flotation
The company will invest about EP 1bn in construction contracts during 2018, 2019, says chariman
Size of the transactions, level of over subscription, yields on Egypt bonds increased after flotation: head of MENA debt capital markets
Middle East market should see higher activity in 2018 after disappointing 2017: Zain Zaidi
Historic leaps in car prices one year after flotation
The prices of cars have witnessed aggressive changes since the liberalisation of the exchange rate starting in November 2016. Daily News Egypt detected the changes to car prices in the Egyptian market from before the Central Bank of Egypt (CBE) made the decision to float the Egyptian pound last year up until November 2017. The …
Flotation decision was an urgent necessity and action taken at the right time: Banks officials
Decision contributed to increasing FX Reserves to $36.5bn, and positively impacted banks activity, El-Refaie said
EGP 100 bn extra spending in FY2016-17 after a year of flotation
The increased spending was due to additional cost of importing fuel and wheat
Flotation saved currency from exploding, economy from collapsing: Domty vice chairperson
Economic management was not ready for the consequences of the flotation, but it was an overdue good decision
Egypt’s stock market records historical gains as currency flotation pays off
Since the flotation of the pound, EGX grew 68% with a turnover of EGP 250.5bn
Winners and Losers since the flotation: what is next?
Next Friday, 3 November, marks a year since Egypt has started its economic reform programme—one that has been the most difficult—to revive the ailing economy and achieve growth rates that reflect on creating jobs, curb unem- ployment, and improve standards of living for Egyptians. At the heart of these bold and cru- el reforms came …
Flotation had other benefits
Liberalisation of the exchange rate increased the competitiveness of outsourcing companies in Egypt
Flotation led to 40% price hike in real estate units’ prices
Projects’ implementation cost rose by 50% since November 2016
One year after Egypt floated its currency, foreign investors are back to local stock market
EGX30 sours 63% in a year as cheap stocks attract attention from foreign funds
Flotation was boldest decision in history of Egyptian economic, banking sectors
FX up by $17bn, foreign investments in government debt instruments mark $18bn
A year since pound flotation, what’s next for Egyptian economy?
Flotation improved Egypt’s FX reserves, exports, and FDI, yet inflation remains a challenge
Will Egyptian bonds remain attractive to foreign investors in a low interest rate environment?
Central Bank gets ready to abort its tightening cycle as inflation eases
EGP flotation gives Egypt competitive advantage to increase exports to Mercosur countries
Organizing a visit before the year-end for a delegation of businessmen to visit the Mercosur countries to hold bilateral meetings, says minister
Flotation of EGP helps Egyptian companies open new markets in Anuga
Latin American countries and Russia are the most important new customers
Attractiveness of food sector resists profitability margins decline
Acquisition deals focus on basic commodities over the upcoming period: El Gazayerly
Egypt’s capacity to repay IMF fund adequate, risks remain: IMF review
Risks to the programme arise from a still fragile macroeconomic stability and the difficult reform agenda
Car price hikes since the flotation
Price increases range from 9% to 105%, with Toyota in the lead
Flotation toughest, most daring decision between Euromoney 2016, 2017: Fayed
The economic reform programme is a new breakthrough for economic growth and financial stability
Back to school slogan loses its luster this year
Floating the pound, lower purchase value, and the feast puts the Egyptian family in a dilemma
Remittances from expatriate Egyptians rising, as currency flotation pays off
July transfers reach $1.8bn against $1.2bn a year earlier
CBE covered dollar needs worth $49bn since flotation
Dollar liquidity is directed to foreign trade financing and foreign companies’ reparation of funds
Unstable dollar price behind fluctuation in banks’ deposits, loans after flotation: CBE
Most banking indicators experience a rise and fall every month because of revaluation of assets in foreign exchange
Egyptian businesses feel squeeze after currency flotation: report
The Egyptian private sector is feeling the squeeze after the currency flotation on higher inflation rates and a 700 bps interest rate hike, according to a recent report published by The Financial Times newspaper. “Despite making Egypt an attractive destination to some foreign investors, the combination of the float, inflation, and the hikes have driven …
Cost of Al Dau Development projects jump 50% after flotation: Hefz Allah
Al Dau Development expects initiating Al Dau Strand project by the end of 2017, says Hefz Allah
Egyptian pound shows signs of correction: Beltone
Total outstanding liability to register at $7.6bn and $12.2bn in FY 2017/18 and FY 2018/19 respectively
Banking system receives $54bn since pound flotation in November 2016
Proceeds are distributed as $25bn funding, $9bn government debt instruments investments, $20bn concessions and remittances from Egyptians abroad
Egytrans launches road transport fleet project worth EGP 9m during current FY
Egytrans signed an agreement with Ahli United Bank to have a facility of EGP 35m as letters of guarantee and about EGP 20m working capital