Tuesday, 8th November 2016As a result of the EGP devaluation, the Egyptian Ministry of Electricity will incur about EGP 100b yearly, EGP 50b came due to the repricing of fuel used in power generation. Yet, there will be no increase in the selling prices of electricity before the beginning of the next fiscal year.
Monday, 22nd August 2016Egypt’s Ministry of Finance picked four banks to manage a dollar bond issuance, as the country plans to sell $3b to $5b in international bonds during the current fiscal year ending June 30 2017, with the first issuance planned for October. JPMorgan Chase , Citigroup, BNP Paribas SA and Paris-based Natixis SA will oversee the sale.
Tuesday, 12th April 2016As Egypt devalued its currency with the current exchange rate standing at EGP10.20 for $1, the price of fuel imports will increase by at least 5% per month, petroleum expert, Aziz Effat, told Egypt Oil&Gas.