Currency | Egypt Oil & Gas

Congo Orders Oil, Mining Companies to Pay Taxes in US Dollars

In attempt to increase foreign currency reserves, Democratic Republic of Congo ordered mining and oil firms to pay taxes and import duties in US dollars rather than in the national currency, the Central Bank of Congo ...

Nigeria Considering Currency Devaluation

Nigerian authorities are under increasing pressure to devalue the national currency, the naira, as oil prices have declined.

Kuwait on Verge of Fiscal Reforms, Projecting Subsidy Cuts

The Kuwaiti government is showing a willingness to push forward fiscal reforms including subsidy cuts, due to the persisting low price of crude, and pressure over lacking support for the country's currency.

Kazakh Currency Drops 22% from Oil Price

The national currency of Kazakhstan, the Tenge, lost nearly a quarter of its public value on Thursday,

Africa Suffers from Rising Oil and Weaker Currencies

Several African countries are suffering this year from a double-whammy of higher oil prices and weakening currencies, with Ghana and parts of eastern Africa taking the hardest knock from the surge in inflation.

Dollar Hits a Low as Oil Prices Maintain Upward Trend

The dollar touched its lowest level in 11 weeks and US and European equities remained under pressure as the recent sell-off in government bonds on both sides of the Atlantic showed few signs of abating.

Egypt’s Renewable Sector Held Back by Currency Instability

Mohamed El Sobki, chairman of Egypt’s New & Renewable Energy Authority (NREA), stated at the event Tuesday that the country was targeting 18,000 megawatts of renewable energy projects.

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