Against the US dollar on Monday
Egypt pound rebounds from flotation slide
The Egyptian pound strengths against the US dollar
Cairo - Arab Today
The Egyptian pound strengthened against the US dollar on Monday, regaining ground after record lows which followed the central bank's decision to float the currency in November.
After plunging to 8.83 pounds against the dollar before the flotation to almost 20 in December, the pound has strengthened since last week to reach less than 16 against the dollar.
Faced with plummeting foreign currency reserves since its 2011 revolution, the central bank floated the pound and the government cut fuel subsidies, in moves which helped secure a $12-billion loan from the International Monetary Fund.
International investors, reacting favourably to the flotation, have since shown strong interest in government bonds and treasury bills.
The inflows as well as the IMF loan's first tranche worth $2.75 billion have made dollars more available, said Ahmed Abdelnaby, a strategist at Mubasher Financial Services.
But he cautioned that Egypt has yet to see a substantial increase in direct investments.
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:16 2016 Wednesday ,23 March
cartoon five
GMT 09:58 2016 Wednesday ,23 March
cartoon four
GMT 10:18 2016 Wednesday ,23 March
cartoon eight
GMT 05:06 2024 Tuesday ,06 February
New hunt for flight MH370 gets under way
GMT 02:48 2017 Thursday ,05 January
Study: Fish Oil Supplements and Omega-3s May Reduce Heart Problems
GMT 10:39 2018 Friday ,19 January
France and Germany to propose bitcoin regulations
GMT 13:52 2016 Monday ,02 May
Rewayat Launches 12 New Novels at Abu Dhabi International Book Fair
GMT 07:07 2017 Monday ,13 November
Strong quake rocks Costa Rica; no immediate reports of damage rmb/mdo
GMT 15:05 2016 Saturday ,02 January
Brush with talent: Blind female artist in limelight
GMT 13:03 2013 Thursday ,05 September
HISWA shows major trend next Dutch nautical year
GMT 04:03 2013 Sunday ,30 June
Spain Pavilion prepares for second actGMT 08:41 2012 Tuesday ,20 March
Saudi prince patronizes International real estate exhibition
GMT 15:25 2014 Monday ,23 June
Li back on track after Paris painGMT 15:32 2012 Tuesday ,18 December
Qatari Girls sparkle in GCC Basketball Championship
GMT 10:54 2017 Sunday ,05 March
Science behind cloud seeding relies on funding for resultsGMT 16:37 2012 Friday ,21 September
Nasser Shamma to give concert in Baghdad
GMT 23:03 2017 Sunday ,08 January
Over 30 dead as Kenya tanker crashes, explodes
GMT 21:53 2016 Thursday ,24 March
Iraqi forces start operation to dislodge Daesh from Ninawa
GMT 02:21 2013 Sunday ,04 August
Birth of baby changes sexual desire in partners of new moms
GMT 15:27 2015 Thursday ,05 March
15 members of Ansar Bayt al-Maqdis militant group killed in Egyptian military operation in Sinai
GMT 14:00 2017 Wednesday ,15 February
Asylum requests in Switzerland drop significantly in January
GMT 17:08 2017 Wednesday ,08 March
ISIS claims responsibility for Kabul hospital attack
GMT 15:11 2017 Monday ,06 March
STC and Cisco sign managed services agreement to drive network capabilities
GMT 22:32 2017 Thursday ,18 May
Russian President Holds Phone Call
GMT 13:22 2017 Saturday ,06 May
World needs ‘soft power’
GMT 18:38 2017 Thursday ,04 May
Turkish authorities expel more than 3,900 from civil service in latest purgeGMT 13:14 2013 Saturday ,25 May
Palestinian people will return home
GMT 19:47 2017 Saturday ,10 June
UAE orders to withdraw drug due to wrong packaging
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor