Business Egypt

  • CAIRO/ ABU DHABI, June 22- Egypt has launched a government-led recount of its wheat silos after an unusually high procurement figure spurred widespread fraud allegations from top industry officials, traders and parliamentarians. Egypt said last week that in the latest procurement season it bought nearly 5 million tonnes of local wheat from its farmers, the...

  • Prices have soared since Egypt devalued its currency by 13 percent in mid-March to end speculation against the pound and ease a dollar shortage that has disrupted trade in a country that relies on imports of everything from food to fuel. But the black market for dollars has since rebounded, putting Egypt back at square one: under pressure to devalue and spark a...

  • *Ergot dispute hampered Egypt's wheat purchase tenders. CAIRO/ ABU DHABI, June 21- Egypt's prime minister said on Tuesday that authorities would allow wheat shipments with up to 0.05 percent levels of ergot fungus, potentially ending a months-long conflict over import requirements that has hamstrung the country's ability to buy from abroad.

  • CAIRO, June 19- Investigators have begun analysing the two severely damaged black boxes from EgyptAir flight MS804 as they seek to explain why the plane plunged into the sea, killing all 66 people on board. It would require "lots of time and effort" to fix the two badly damaged black box recorders, sources on Egypt's Aircraft Accident Investigation Committee told...

  • Another flight recorder found from downed EgpytAir flight

    A second voice recorder has been retrieved from the crashed EgyptAir flight MS804.

  • The Airbus A320 crashed into the Mediterranean early on May 19 on its way from Paris to Cairo. Egypt's investigation committee said in a statement that a specialist vessel owned by Mauritius- based Deep Ocean Search was forced to salvage the device in stages because it was extensively damaged, but was able to retrieve the memory unit. Egypt's public prosecutor...

  • CHICAGO, June 16- Egypt, the world's top wheat importer, faces $860 million in extra costs and lost export opportunities this year because of "unorthodox agricultural measures," including a zero-tolerance policy on ergot fungus in wheat, the U.S. Department of Agriculture said on Thursday in a report. The report, from a USDA attache in Cairo, criticized the...

  • crude-oil.jpg

    Crude oil prices of $50-55 per barrel would be a “sweet point” for Egypt, the country’s minister of trade and industry told CNBC.

  • Speakers: International Monetary Fund Christine Lagarde, Bank of Finland Governor Erkki Liikanen, Sveriges Riksbank Governor Stefan Ingves, Bank of Finland Governor Erkki Liikanen and Norges Bank Governor Oystein Olsen. ST.PETERBURG, Russia- 20th St. Petersburg International Economic Forum. Russian President Vladimir Putin, European Commission...

  • CAIRO, June 14- Economists are roughly evenly split on whether Egypt's central bank will raise interest rates at its monetary policy committee meeting on June 16, after a jump in inflation in May. "Whilst a rise in interest rates might, in other scenarios, prove an efficient policy response, at the moment, given the increasingly heavy burden on the budget from rising...

  • SINGAPORE- Monetary Authority of Singapore to release its quarterly survey of professional forecasters- 0400 GMT. WARSAW- German Finance Minister Wolfgang Schauble visits Poland JAKARTA- Indonesia central bank holds board of governors meeting. WINDHOEK- Central bank of Namibia holds monetary policy meeting- 0900 GMT.

  • CAIRO, June 14- Economists are roughly evenly split on whether Egypt's central bank will raise interest rates at its monetary policy committee meeting on June 16, after a jump in inflation in May. "Whilst a rise in interest rates might, in other scenarios, prove an efficient policy response, at the moment, given the increasingly heavy burden on the budget from rising...

  • TUESDAY, JUNE 14 SOPOT, Poland- European Central Bank Executive Board Member Yves Mersch speaks at the "6th European Financial Congress" on "Grasping the new normal for the banking industry- a view from a European Central Banker"- 1600 GMT. PRAGUE- Czech National Bank Governor Miroslav Singer to hold a news conference on financial stability 2015/ 2016- 0800 GMT.

  • MONDAY, JUNE 13 MONTREAL- OECD Secretary-General Angel Gurria will present the latest OECD Economic Survey of Canada with Canadian Finance Minister Bill Morneau during a press conference- 1400 GMT. SOPOT, Poland- Sweden Riksbank Governor Stefan Ingves will participate in a debate on "The development of the financial sector and its effect on the economy"...

  • MOSCOW- Central Bank of Russia announces interest rate decision- 1000 GMT. MONDAY, JUNE 13 SOPOT, Poland- 6th European Financial Congress in Sopot. TUESDAY, JUNE 14 SOPOT, Poland- European Central Bank Executive Board Member Yves Mersch speaks at the "6th European Financial Congress" on "Grasping the new normal for the banking industry- a view from a European Central...

  • PARIS, June 9- A second ship equipped with specialist search devices will join the hunt for the "black box" flight recorders and the wreckage of an EgyptAir jet on Friday, the head of France's air-accident investigation agency said on Thursday. A French naval supply vessel picked up a signal from one of the two recorders on June 1 and Egypt has chartered a second...

  • PARIS, June 9- A second ship equipped with specialist search devices will join the hunt for the "black box" flight recorders and the wreckage of an EgyptAir jet on Friday, the head of France's air-accident investigation agency said on Thursday. A French naval supply vessel picked up a signal from one of the two recorders on June 1, and Egypt has chartered a second...

  • BELGRADE- National Bank of Serbia announces interest rate decision- 1100 GMT. LIMA- Central bank of Peru announces interest rate decision- 2300 GMT. MONDAY, JUNE 13 SOPOT, Poland- 6th European Financial Congress in Sopot.

  • EgyptAir flight makes emergency landing after bomb threat

    The plane made an emergency landing in Uzbekistan after receiving a bomb threat in a suspected hoax.

  • TOKYO- IMF Deputy Managing Director Mitsuhiro Furusawa, Japan's vice finance minister for international affairs Masatsugu Asakawa and Asian Development Bank Institute Dean Naoyuki Yoshino will speak at a forum on fiscal policy for long-term growth held in Tokyo- 0100 GMT. BRASILIA- Central Bank of Brazil holds Monetary Policy Committee meeting.