CAIRO MARRIOTT HOTEL & OMAR KHAYYAM CASINO 16 Saray El Gezira PO Box 33, Zamalek, Cairo T: (02) 2728 3000 F: (02) 2728 3001 www.cairomarriotthotel.com cairomarriottreservation@marriott.com Rooms: 1087 rooms, including 71 diplomatic suites, 28 executive suites, four ambassador suites, five presidential suites and two royal suites. Business...
A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading.
Garnering more investment, loans and assistance packages than had been widely expected, Egypt’s Economic Development Conference (EEDC) secured investment contracts worth $36.2bn, an additional $18.6bn in infrastructure contracts to set up power plants, and $5.2bn in loans from international financial institutions.
With investor confidence growing, Egypt is looking forward to a sizeable boost to its economic performance in 2015.
Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and reduced foreign currency reserves.
The three years since the 2011 revolution have proven to be profitable for most of Egypt’s insurers, making it one of the few sectors to overcome the country’s economic malaise. Although insurers have been faced with substantial payouts as a result of civil disturbances, premiums have grown and new products have been developed to meet the increasing demand for cover....
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×