The Egyptian pound regains the initiative
Just a few weeks ago, most economic analyses were focused on the ability of the Egyptian pound to withstand a wave of external and domestic pressures that began with escalating geopolitical tensions in the region, rising oil prices, and the
No intervention in foreign exchange market; it operates freely: CBE’s Deputy Governor
Rami Aboul Naga, Deputy Governor of the Central Bank of Egypt (CBE), confirmed that the bank is not intervening in the foreign exchange market, stating that there is currently no benefit to such intervention. “The market is responding and correcting
ODE achieves record EGP 32.5bn in real estate sales, marking 67% growth in FY 2024
Orascom Development Egypt (ODE) has announced its consolidated results for Q4 2024, reporting record-breaking financial performance for the fiscal year (FY) 2024. The company achieved EGP 32.5bn in real estate sales, reflecting a 67% year-over-year (YoY) growth, with revenues surging
Egypt’s foreign exchange earnings surge to $159.6bn in 2023/2024
Egypt’s foreign exchange earnings reached $159.6bn in the 2023/2024 fiscal year, marking a 30.8% increase from the $121.9bn reported in 2022/2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). This growth was largely driven by
Egypt’s banking sector records $5.95bn net foreign asset surplus in November 2024
The Central Bank of Egypt (CBE) announced that the banking sector’s net foreign assets (NFA) reached a surplus of $5.95bn (EGP 295.6bn) in November 2024, down from a surplus of $9.2bn (EGP 450.861bn) in October 2024. This marks a continued