Majid Al Futtaim's latest investment comes after the recent announcement of its five-year investment plan worth 18 billion Egyptian pounds
Customers are allowed to withdraw up to 50,000 Egyptian pounds
and $10,000 a day.
25 against the Egyptian pound
in three months, and will rise again to EGP 8.
at 2,000 Egyptian pounds
a tonne,' a statement by the Trade Ministry said.
then that will continue to breed uncertainty, and the Egyptian pound
will reflect that.
The devaluation of the Egyptian pound
is no longer a matter of choice; all protection measures should be taken to counter external challenges as the Egyptian economy is not far from international fluctuations, Minister of Investment Ashraf Salman said.
Summary: The Egyptian pound
had been falling steadily since political protests broke out on Jan 25.
The Egyptian pound
has witnessed consecutive declines since the start of the year, where the pound dropped by 11% against the dollar which was at EGP 7.
I forecast a devaluation of the Egyptian pound
as the inevitable endgame of the new realities unleashed by the Tahrir Square protests and the subsequent fall of President Mubarak.
Dubai Bonyan for Development and Trade yesterday said that it has finalised arrangements for an 185 million Egyptian pound
(Dh123 million) syndicated loan to finalise the completion of Designopolis, the first furniture and home accessories mega mall in the Middle East and North Africa.
The Central Bank of Egypt (CBE) stabilised on Tuesday the price of the US dollar against the Egyptian pound
for the fourth consecutive time.
Summary: ABU DHABI - All charges against money transfers from UAE to Egypt in Egyptian Pound
through the branches of Bank of Egypt in the UAE have been waived, the Regional Manager of Bank of Egypt Branch in the UAE Hassan Al Buhairi has announced.