The Egyptian Exchange (EGX) closed on Thursday with gains for the second day backed by share purchases by local and foreign investors. The market capital achieved gains worth EGP 3.4 billion to reach EGP 507.2 billion, after transactions hit EGP 546.1 million. The EGX 30 benchmark index soared 1.18 percent to close at 8,731.29 points. […]
Category: Markets
Rapid West African growth makes issued debt manageable
Rapid economic growth in West Africa’s CFA-franc zone will keep debt loads manageable despite a recent wave of heavy borrowing by governments, the governor of the regional central bank told Reuters. The Economic and Monetary Union of West Africa (UEMOA) plans to issue 2,865 billion CFA francs ($4.9 billion) in debt this year, down 22.4 […]
Egypt’s foreign reserves rise on back of Gulf Aid
(Reuters) – Egypt’s foreign currency reserves rose to $15.43 billion at the end of January from $15.33 billion the previous month, the central bank said on Thursday. Foreign reserves fell sharply after the 2011 uprising that ousted President Hosni Mubarak but had risen again on the back of billions of dollars of Gulf Arab aid […]