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 10:18 2016 Wednesday ,23 March
cartoon seven
GMT 05:17 2024 Wednesday ,07 February
Amazon to open first cashierless shop
GMT 09:52 2017 Tuesday ,15 August
GFH completes major acquisition
GMT 19:11 2017 Thursday ,07 September
Waha Capital partners with Emirates Wildlife Society
GMT 21:04 2017 Thursday ,06 July
Regent visits King Talal’s tombGMT 12:45 2012 Sunday ,27 May
Ayman Zeydan in \'Zaman Al Barghouth\'
GMT 10:23 2016 Wednesday ,01 June
'Shield' actor Michael Jace convicted of murdering wife
GMT 07:29 2017 Monday ,03 July
Saudi Arabia accuses Qatar
GMT 06:52 2017 Thursday ,17 August
ERC signs agreement to implement water network project
GMT 15:02 2017 Wednesday ,07 June
Jordan condemns terrorist incidents in Tehran
GMT 10:12 2017 Saturday ,30 December
Putin toughens terrorist recruitment sentences
GMT 23:50 2017 Friday ,10 November
FIFA human rights panel warns
GMT 06:55 2017 Wednesday ,08 November
Bahrain-Brazil business ties discussedGMT 11:23 2011 Thursday ,21 July
Lindsay Hawker\'s killer Tatsuya Ichihashi jailed for lifeGMT 10:35 2012 Tuesday ,03 July
Samsung Galaxy S III
GMT 08:09 2014 Sunday ,30 March
Agreement made at UN world climate panel in Japan
GMT 08:57 2015 Sunday ,13 December
The Rockettes, 8 decades of New York Christmas glamourGMT 20:32 2013 Friday ,08 February
Chinese web security under attack
GMT 14:07 2015 Tuesday ,06 October
Sneezing monkey, 'walking' fish found in Himalayas
GMT 15:30 2015 Sunday ,09 August
Bill Cosby to give first deposition since 2005
GMT 06:58 2016 Wednesday ,13 April
Raises alarm over threats to fragile Syria truce
GMT 20:48 2015 Wednesday ,25 February
Gas to Ukraine could be cut off in 4 days unless prepayment madeGMT 15:40 2013 Friday ,10 May
Willow Smith, silver and stripes
GMT 22:52 2015 Friday ,13 March
After 4 years of war, Syrians plagued by depression
GMT 18:00 2013 Friday ,30 August
Miley Cyrus \'twerking\' goes viral, sparks angerGMT 17:22 2012 Friday ,25 May
The Delight of CurryGMT 14:22 2012 Tuesday ,20 March
Waffles
GMT 13:03 2014 Wednesday ,24 September
UAE calls for efforts against polio
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