Latest Updates of Egypt !
The Central Bank of Egypt (CBE) monetary policy committee on Thursday decided to raise key interest rates by 300 basis points.
The CBE set the overnight deposit rate, the overnight lending rate and the rate of the main operation at 16.25%, 17.25% and 16.75% respectively.
The discount rate was also raised by 300 basis points to 16.75%.
Source: State Information Service Egypt
Egypt and Tanzania are gearing up to celebrate the first filling of the giant hydropower dam of Julius Nyerere, which is being constructed along the Rufiji River by an Egyptian consortium and thousands of workers including Egyptians.
The ambitious project of Julius Nyerere Hydropower Station has a capacity of 2,115 MW an is set to become the largest in East Africa and Africa’s fourth largest.
Egypt’s Foreign Minister Sameh Shoukry and Minister of Housing Assem El-Gazzar headed to Tanzania to celebrate the first filling of the dam’s reservoir.
Source: State Information Service Egypt