Australian companies are considering investing in Egypt's mining sector encouraged by local success story Centamin Egypt, according to Glenn Miles, Australia's Ambassador to Egypt
The Egyptian government is committed to improving the investment (...)
The coronavirus (COVID-19) pandemic is posing a threat to the main drivers of Egypt's GDP growth, the American Chamber of Commerce in Egypt (AmCham) has said in recent research.
AmCham's research comes as part of a series mapping out common factors (...)
Egypt's maritime and air freight sectors, as well as its Suez Canal workings, have taken the most direct and sudden blows to demand due to the coronavirus (COVID-19) outbreak. This is due to their dependence on international trade flows, which have (...)
Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has called on governments worldwide to ensure the recovery from the coronavirus (COVID-19) crisis is environmentally sustainable.
"If this recovery is to be (...)
The Islamic Development Bank (IsDB) and International Islamic Trade Finance Corporation (ITFC) have launched an online platform facilitating learning and knowledge sharing between medical teams from the IsDB's African member countries.
The platform (...)
The European Bank for Reconstruction and Development (EBRD) has appointed Philip ter Woort as its Director for the Eastern Mediterranean region. As part of his remit, ter Woort will be leading the EBRD's future operations in Jordan, Lebanon, the (...)
Egypt's reform programme, implemented in coordination with the International Monetary Fund (IMF), ensures the country's economy is well placed to navigate the coronavirus (COVID-19) crisis, Minister of International Cooperation Rania Al-Mashat (...)
The International Monetary Fund (IMF) is facing extraordinary demands on its financial facilities due to the coronavirus (COVID-19) pandemic, according to Jihad Azour, Director of the IMF's Middle East and Central Asia Department.
Azour's comments (...)
Global GDP will contract by 3.9% in 2020, due to the economic slowdown and lockdowns related to the ongoing coronavirus (COVID-19) pandemic, Fitch Ratings has projected.
The latest projections were presented in its updated Global Economic Outlook (...)
The Egyptian authorities allowed Air Cairo to run an exceptional flight to Charles de Gaulle Airport, France on Wednesday despite aviation suspension as part of the government efforts to contain the spread of the coronavirus (COVID-19).
Egypt has (...)
Egypt has requested financial and technical support from the International Monetary Fund (IMF) as the country faces the economic implications of the coronavirus (COVID-19) pandemic, Prime Minister Mostafa Madbouly said.
Madbouly's comments came (...)
Remittances to the Middle East and North Africa (MENA) region are expected to fall 19.6% to $47bn in 2020 following the 2.6% growth achieved in 2019, according to a recent World Bank (WB) report.
The report, entitled, "Migration and Development (...)
The Middle East needs to increase health care, education and infrastructure investments following the coronavirus (COVID-19) pandemic, said Mahmoud Mohieldin, special envoy of the United Nations' Secretary-General for sustainable development (...)
The International Monetary Fund's (IMF) Executive Board approved a Short-term Liquidity Line (SLL), on the back of intensified demand for liquidity and increased uncertainty from the coronavirus (COVID-19) pandemic.
The ongoing pandemic has severely (...)
A number of private sector representatives in Egypt have called on authorities to launch new initiatives to support the economy during the ongoing coronavirus pandemic (COVID-19).
The calls came during a virtual panel organised by the Egyptian (...)
Egypt is looking to mitigate the effects of the ongoing coronavirus (COVID-19) pandemic on all sectors through cooperation with international organisations, said Minister of International Cooperation Rania Al-Mashat.
The minister's comments came (...)
Middle- and low-income states should have their debt burdens alleviated, according to Rola Dashti, Executive Secretary of the United Nations Economic and Social Commission for Western Asia (ESCWA).
Dashti's comments came during a virtual meeting (...)
The United Nations (UN) in Egypt has launched a socio-economic response plan in consultation with the Egyptian government, a UN statement on Tuesday said.
The statement also said that the plan's focus is to effectively support the most vulnerable (...)
The global management consulting company McKinsey has outlined some steps companies can follow to stay ahead of the COVID-19 crisis.
As part of McKinsey's series of advice to help companies manage current crisis, the April report, entitled "Getting (...)
A total of 103 countries have approached the International Monetary Fund (IMF) for emergency financing due to the coronavirus (COVID-19) pandemic, the IMF's Chairperson and Managing Director, Kristalina Georgieva, said on Monday.
Georgieva added, (...)
China will send Egypt additional medical aid to help the latter combat its ongoing coronavirus (COVID-19) outbreak, said the Chinese ambassador to Egypt, Liao Liqiang. Speaking during a virtual press conference on Sunday, Liao said the first (...)
The ongoing coronavirus (COVID-19) pandemic has had a limited impact on Chinese businesses operating in Egypt, the Chinese ambassador to Egypt, Liao Liqiang, told Daily News Egypt.
Speaking via a virtual press conference on Sunday, Liao said, "The (...)
The Egyptian authorities have allowed for an exceptional Air Cairo flight from Cairo International Airport to London's Heathrow Airport on 22 April.
The exceptional flight will take place despite ongoing air travel suspension due to the coronavirus (...)
Lower Brent crude oil prices will likely have a positive impact on Egypt's hydrocarbon bill, says a research by the Business Studies & Analysis Center (BSAC). The centre, which falls under the American Chamber of Commerce in Egypt (AmCham), recently (...)
The Egyptian authorities and International Monetary Fund (IMF) are in close discussions on the policies needed to contain the economic impacts of the coronavirus (COVID-19). The statement was made by Jihad Azour, Director of the IMF's Middle East (...)