Egypt’s Business digest Aug. 12: Egypt to repay IMF loan on 10yrs; leather exports hit $25.29
Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo in this file photo dated October 10, 2012. REUTERS/Kim Kyung-Hoon

CAIRO: No more browsing from site to site, view the top business news stories on August 12 here:



USD exchange rate “stable” at 8.88 EGP

The USD exchange rate against the Egyptian pound remained “stable” at 8.83 EGP for purchase and 8.88 EGP for sale, while the Euro reached 9.83 EGP for purchase and 9.93 EGP for sale.


Egypt’s exports of leather hit $25.29: report

An official report by the Ministry of Trade and Industry revealed that total Egyptian exports of leather reached $25.29 million during the first quarter of 2016.

According to the report, the recipient countries include: Portugal, Saudi Arabia, Qatar, Israel, Turkey, Sudan, Lebanon, France, Spain, Germany, Iran and China.


Egypt, IDB discuss mutual cooperation

Minister of International Cooperation Sahar Nasr held discussions with the Islamic Development Bank (IDB) on mutual cooperation, according to a statement.

The meeting tackled relationship with the bank, which contributes in financing a number of important projects in Egypt with a total funding of up to $2.3 billion, in addition to the contribution of the International Islamic Trade Finance Corporation (ITFC) in funding the purchase of petroleum products worth $3 billion.


Egypt to repay $12 bln loan over 10 yrs: IMF

The International Monetary Fund (IMF) announced that the Egypt will repay the $12 billion loan over a period of 10 years, adding that Egypt is expected to receive the loan on a semi-annual basis.

The Egyptian government announced Thursday that an agreement was reached with the IMF over a 3yr-loan programme, to support an economic reform plans.


National Bank of Egypt donates with 10 Braille typewriters, 2 trucks equipped for disable in N. Sinai

The National Bank of Egypt (NBE) has donated with two equipped trucks to be used for transporting disabled people as well as 10 Braille typewriters to North Sinai.

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