Browsing: Egypt

Egyptian President Abdel Fattah El-Sisi hosted Russian spy chief Sergei Naryshkin and his accompanying delegation in Cairo. The meeting was…

The Egyptian pound has slumped against the US dollar, recording EGP 48.68 for buying and EGP 48.78 for selling in trading at the Commercial International Bank (CIB) of Egypt, as per the bank’s latest update on April 15th.

The EU on Friday said it would provide Egypt with 1 billion euros ($1.07 billion) in short-term financial aid to help stabilise the country’s economy.

The announcement followed a record $35bln investment deal with UAE and coincided with a sharp devaluation of the currency and a 600-basis-point increase in the central bank’s overnight interest rates, breathing new life into Egypt’s flagging finances