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Industry wants a specialized accounting framework to account for FX costs amid currency crunch
Manufacturers are forced to source their USD needs at a higher rate from the parallel market
NBE becomes the latest bank to cut credit card FX limits
The cuts come amid a push by the central bank to curb FX spending
Alshaya Group to downsize business in Egypt?
The group will shut some 60 of its shops across the country
Egypt’s nail-baiting draw with Mozambique had our nation’s talking heads at the edge of their seats
Ahmed Moussa thanked a “point from the heavens” for the draw
CIB, ADIB cut credit card limits on FX spending
The central bank has been tightening its grip on FX transactions in recent months
Tabreed terminates CapitalMed contract over FX concerns
The company says it remains committed to investing in the country
Gov’t unveils six-year strategy to triple FX receipts. PLUS: IMF sees USD trading at 36.83 against EGP through 2028
The government aims to ramp up its foreign exchange inflows to around USD 300 bn a year by 2030
Egypt’s net foreign liabilities improve slightly in November
The country’s net foreign deficit shrank to USD 27 bn in November
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