Egypt’s inconsistent economic policies hinder investment: IFC and World Bank

Egyptian governorates showed varied performances on regulations applied for small and medium enterprises, according to a report conducted by the World Bank and the International Finance Corporation (IFC) in collaboration with the Egyptian government.

Private sector performance improving: HSBC

Non-oil producing private sector companies reported activity and orders increases in November, according to HSBC’s monthly Purchasing Managers’ Index (PMI). The headline PMI edged up to 52.5, ending a 13-month period of deteriorating"...

Barclays Egypt Q3 profits reach EGP 325m

Barclays Bank Egypt’s (BBE) profit spiked in the third quarter of 2013 to reach EGP 325m, representing a 49% increase compared to the corresponding period last year. It was driven by a robust performance across all lines and segments,"...

Egypt has spent 7bn of 29bn pound stimulus package- minister

Egypt has spent 7 billion Egyptian pounds ($1.02 billion) of a package of 29.7 billion intended to stimulate an economy ravaged by more than two years of political turmoil, Planning Minister Ashraf al-Arabi said on Saturday.

Egypt central bank unexpectedly cuts rates to boost economy

Egypt’s central bank unexpectedly cut its key interest rates by 50 basis points each at a monetary policy committee meeting Thursday, saying it was more concerned about boosting growth than taming inflation.

Cairo’s bourse climbs in first gain in three days

Cairo’s benchmark index climbed 0.6 percent, its first gain in three days, with trading focused on small-caps. Upper Egypt Construction rose 6 percent.

“Investors are cautious and on the sidelines pending better visibility on the constitutional voting and referendum outcome,” said Islam Batraway,"......

Central Bank chief: Currency black market won’t last long

Egypt’s central bank governor said the black market for the Egyptian pound would “not last long” on Wednesday, as two market sources said the currency had weakened against the dollar because of higher demand from importers.

Egypt delays loan decision

Egypt has postponed any decision on taking a $4.8 billion loan from the IMF as financial aid from Gulf states has given Cairo some breathing space as it starts to conduct economic reforms, Deputy Prime Minister Ziad Bahaa El"...