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Egypt: Inflation Eases to Slowest Pace in 18 Months
Inflation rate in Egypt fell to an 18 month low in June, giving the central bank more room to keep its key interest rate at its lowest level in a year and a half. Urban inflation, the benchmark rate that the central bank monitors, slowed to 9.9 percent from 10.2 percent in the previous month.... »
Egyptian Central Bank lowers interest rate to 10%
Egypt’s central bank cut its benchmark interest rate for a second consecutive month as urban inflation in the Arab world’s most populous country eased to its slowest pace in more than a year and the economic growth rate fell. The overnight deposit rate was lowered by half a percentage point to 10 percent and the... »
Modern Egypt mines pharaohs’ gold
A mine known to the pharaohs has re-entered service as modern Egypt’s only large gold producer. A papyrus map indicates that the Sukari gold deposit, in Egypt’s eastern desert near the Red Sea, was mined during the time of the pharaohs more than 2,000 years ago. Later, the Romans mined gold there, literally scratching the... »
