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Egypt: Economy shows signs of revival, two new ministries underway

The Egyptian government has received a big boost after it sold $1.5 billion of 10-year bonds at a yield of 6% with lead managers claiming that $4.5 billion of investor orders were attracted by the bond issuance. The success of this first international bond issuance under Sisi’s government shows signs of a return to normality […]

Sudan freezes agreement to host Russian military base

Sudan has frozen a military agreement with Russia which includes the establishment of a Russian military base on the Red Sea coast of the African country, a top Sudanese official told Turkish news agency Anadolu. The official who asked not to be named because not allowed to talk on the matter, told the Turkish news […]

Egypt: Dwindling reserves leading to Pound devaluation

The devaluation of the Egyptian pound seems more and more probable after foreign reserves dropped for the third consecutive month, as shown by the Central Bank data. The foreign reserves have fallen from $20 billion in June to $16 billion in September according to the central bank. The current amount could cover only 3.3 months […]