Big factory for manufacturing railways to be set up in Port SaidTue, Apr. 21, 2020
The project is a joint investment between the private sector and the zone along with a foreign partner, he added in a statement.
Int'l Cooperation Min, IFAD review Egypt's effort to curb COVID-19Tue, Apr. 21, 2020
‘The crisis also drove structural reform relating to social protection, unofficial labor and financial inclusiveness,” she noted.
Egypt’s budget in COVID-19’s eraTue, Apr. 21, 2020
The draft budget that is the biggest in the country’s history comes with expenses of 1.71 trillion and revenues of LE 1.3 trillion, according to Ma’it's previous announcement.
Moody's: CBE measures supported Egyptian economyTue, Apr. 21, 2020
It added that the CBE's measures included reducing interest rate by 300 points and expanding loan installments for persons and corporations for six months.
Moody’s keeps Egypt’s credit rating at B2Tue, Apr. 21, 2020
A3 is the seventh highest rating a debt issuer can receive, denoting that Egypt’s financial and banking system is solid with a low risk of default.
Moody's expects Egyptian economy to achieve 4.4% growth rate in current FYTue, Apr. 21, 2020
Moody's also highlighted the decrease of public debt from 103.5 percent to 84.2 percent of the Gross Domestic Product by the end of last year.
U.S. oil benchmark below zero for first time in historyMon, Apr. 20, 2020
Upon this data, the US crude oil has recorded its deepest decline since 1983.
U.S. crude futures plunge to lowest on record on scant storage, weak demandMon, Apr. 20, 2020
The May U.S. WTI contract fell $15.91, or 87.1%, to $2.36 a barrel at 1:25 p.m (1725 GMT) after touching an all-time low of $2.26. Brent LCOc1 was down $1.76, or 6.3%, to $26.32 a barrel.