The Telecom Egypt headquarters building in Cairo, Egypt. Reuters
Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding as concern grows over the spread of the coronavirus.
The UAE, Saudi Arabia and Egypt drew up to 65.4 per cent of the total FDI inflows to the Arab nations in Q1-2020, according to a report released by the Arab Investment & Export Credit Guarantee Corporation (Dhaman)
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.
Abdulla Bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Bruno Le Maire, the French Ministry of Economy, Finance and Industrial and Digital Sovereignty,
The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP).
Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held talks with Zafrul Aziz, Minister of Investment, Trade and Industry for Malaysia,