Egypt Floats Currency by 48% as Crisis Worsens

The Egyptian Central Bank dropped the Egyptian Pound’s (EGP) value by 48% and raised interest rates by 300 basis points for “one night only” as part of its efforts to re-balance the currency market. The decision has already yielded some Read more

Egypt: $32 million to improve security at tourism resorts

Egypt announced Thursday injection of additional $32 million to improve security in tourism resorts and archeological sites across the country following two attacks on tourists in January. Egyptian Minister of Tourism Hisham Zaazou announced the series of measures including installation Read more