Egitto 6.875% 30.04.2040 ISIN XS0505478684
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Egypt's foreign debt rose by $8.1 bln in last quarter of 2021
29/05/2022 18:29 - RSF
CAIRO, May 29 (Reuters) - Egypt's net external debt climbed by $8.1 billion in the fourth quarter of 2021, central bank data showed on Sunday.
Egypt had been increasing its borrowing to plug current account and budget deficits even before Russia's invasion of Ukraine in February and the first U.S. Federal Reserve rate hike in March, analysts say. (news)
Fed hikes have put pressure on Egypt to raise its own interest rates, pushing borrowing costs higher, and the Ukrainian crisis has increased the cost of imported commodities and cut into tourism revenue.
Egypt has raised its benchmark overnight interest rates by three percentage points since March. (news)
Egypt's total external debt rose to $145.5 billion at the end of December from $137.4 billion as of the end of September, the central bank data showed.
Foreign debt was equivalent to 33.2% of gross domestic product at the end of December, up from 32.6% at the end of September, the data showed.
(Reporting by Patrick Werr; Editing by Hugh Lawson)
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29/05/2022 18:29 - RSF
CAIRO, May 29 (Reuters) - Egypt's net external debt climbed by $8.1 billion in the fourth quarter of 2021, central bank data showed on Sunday.
Egypt had been increasing its borrowing to plug current account and budget deficits even before Russia's invasion of Ukraine in February and the first U.S. Federal Reserve rate hike in March, analysts say. (news)
Fed hikes have put pressure on Egypt to raise its own interest rates, pushing borrowing costs higher, and the Ukrainian crisis has increased the cost of imported commodities and cut into tourism revenue.
Egypt has raised its benchmark overnight interest rates by three percentage points since March. (news)
Egypt's total external debt rose to $145.5 billion at the end of December from $137.4 billion as of the end of September, the central bank data showed.
Foreign debt was equivalent to 33.2% of gross domestic product at the end of December, up from 32.6% at the end of September, the data showed.
(Reporting by Patrick Werr; Editing by Hugh Lawson)
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Israel to renew offshore gas exploration, looks to supply Europe
Oggi 10:38 - RSF
JERUSALEM, May 30 (Reuters) - Israel is preparing another round of tenders for offshore natural gas exploration and hopes to sign a preliminary agreement soon for exporting gas to Europe, Israel's energy minister said on Monday.
Energy Minister Karine Elharrar said a working team has been set up between Israel, Egypt and Europe for setting up the export arrangement.
(Reporting by Ari Rabinovitch Editing by Steven Scheer)
(([email protected]; +972-2-632-2202; Reuters Messaging: [email protected]@reuters.net))
Oggi 10:38 - RSF
JERUSALEM, May 30 (Reuters) - Israel is preparing another round of tenders for offshore natural gas exploration and hopes to sign a preliminary agreement soon for exporting gas to Europe, Israel's energy minister said on Monday.
Energy Minister Karine Elharrar said a working team has been set up between Israel, Egypt and Europe for setting up the export arrangement.
(Reporting by Ari Rabinovitch Editing by Steven Scheer)
(([email protected]; +972-2-632-2202; Reuters Messaging: [email protected]@reuters.net))
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UPDATE 1-Israel renews gas exploration, expects export deal to Europe
Oggi 12:03 - RSF
(Adds quotes, detail)
JERUSALEM, May 30 (Reuters) - Israel is renewing offshore natural gas exploration and hopes to reach an agreement soon for exporting gas to Europe, Israel's energy minister said on Monday.
Energy Minister Karine Elharrar had said exploration for new gas fields would be put on hold to focus on meeting renewable energy targets but due to the war in Ukraine, Europe is now looking for a quick replacement of supply from Russia.
"Alongside the real and sincere concern in Europe, there is a real opportunity for Israel to export natural gas to Europe," Elharrar said at a news conference.
Because of this, she said she instructed the ministry to prepare for a new round of tenders for gas exploration off Israel's Mediterranean coast, which is expected to begin in the third quarter.
"We established a three-way working group with Israel, Europe and Egypt. We will sign, I hope in the near future, a memorandum of understanding that will create the framework agreement for export," she said.
The idea for now is for gas to be sent to Egypt through an expanded pipeline network for liquefication and then shipped to Europe. Other options, like the long-discussed Eastmed pipeline connected Israeli gas fields directly with Europe, are also on the table, Elharrar said.
Officials have said it would be at least a couple of years before significant amounts of Israeli gas could reach Europe.
(Reporting by Ari Rabinovitch; Editing by Steven Scheer and David Evans)
(([email protected]; +972-2-632-2202; Reuters Messaging: [email protected]@reuters.net))
Oggi 12:03 - RSF
(Adds quotes, detail)
JERUSALEM, May 30 (Reuters) - Israel is renewing offshore natural gas exploration and hopes to reach an agreement soon for exporting gas to Europe, Israel's energy minister said on Monday.
Energy Minister Karine Elharrar had said exploration for new gas fields would be put on hold to focus on meeting renewable energy targets but due to the war in Ukraine, Europe is now looking for a quick replacement of supply from Russia.
"Alongside the real and sincere concern in Europe, there is a real opportunity for Israel to export natural gas to Europe," Elharrar said at a news conference.
Because of this, she said she instructed the ministry to prepare for a new round of tenders for gas exploration off Israel's Mediterranean coast, which is expected to begin in the third quarter.
"We established a three-way working group with Israel, Europe and Egypt. We will sign, I hope in the near future, a memorandum of understanding that will create the framework agreement for export," she said.
The idea for now is for gas to be sent to Egypt through an expanded pipeline network for liquefication and then shipped to Europe. Other options, like the long-discussed Eastmed pipeline connected Israeli gas fields directly with Europe, are also on the table, Elharrar said.
Officials have said it would be at least a couple of years before significant amounts of Israeli gas could reach Europe.
(Reporting by Ari Rabinovitch; Editing by Steven Scheer and David Evans)
(([email protected]; +972-2-632-2202; Reuters Messaging: [email protected]@reuters.net))
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Supply from North Africa to Europe is up by 30% since March, Petro-Logistics said. Of this, Eikon data indicates arrivals into northwest Europe from Egypt's Sidi Kerir port, which analysts say is likely Saudi crude, will almost double versus March to above 400,000 bpd in May.
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UPDATE 1-Egypt's M2 money supply climbs 23.7% in year to April, NFAs fall
31/05/2022 18:38 - RSF
(Adds decline in net foreign assets)
CAIRO, May 31 (Reuters) - Egypt's M2 money supply rose by 23.7% year-on-year in April, data from the central bank showed on Tuesday.
Egypt's net foreign assets (NFAs) meanwhile dropped by 14.8 billion Egyptian pounds in April, marking a slowdown in the outflow of funds that began in October.
Money supply stood at 6.41 trillion pounds ($345.93 billion), up from 5.18 trillion pounds in the same month last year.
NFAs fell to a negative 234.4 billion pounds in April from a negative 219.4 billion a month earlier, their seventh month of declines. NFAs were a positive 186.3 billion pounds at the end of September 2021, central bank data showed.
NFAs fell by 169.7 billion in March, their biggest decline since the coronavirus crisis broke out in February 2020.
An outflow of foreign currency, triggered in part by investor unease following Russia's invasion of Ukraine, was among factors which prompted the central bank to devalue the pound by 14% on March 21.
NFAs represent banking system assets owed by non-residents minus liabilities. Changes in their size represent net transactions of the banking system with the foreign sector, including those of the central bank, according to the bank.
Any movement could represent changes in import or export flows, foreign portfolio outflows, repayment of foreign debt, changes in the flow of worker remittances or a slowdown in tourism, analysts said.
($1 = 18.5300 Egyptian pounds)
(Reporting by Moataz Mohamed and Patrick Werr; Writing by Nadine Awadalla; Editing by Kirsten Donovan and Alison Williams)
(([email protected])
31/05/2022 18:38 - RSF
(Adds decline in net foreign assets)
CAIRO, May 31 (Reuters) - Egypt's M2 money supply rose by 23.7% year-on-year in April, data from the central bank showed on Tuesday.
Egypt's net foreign assets (NFAs) meanwhile dropped by 14.8 billion Egyptian pounds in April, marking a slowdown in the outflow of funds that began in October.
Money supply stood at 6.41 trillion pounds ($345.93 billion), up from 5.18 trillion pounds in the same month last year.
NFAs fell to a negative 234.4 billion pounds in April from a negative 219.4 billion a month earlier, their seventh month of declines. NFAs were a positive 186.3 billion pounds at the end of September 2021, central bank data showed.
NFAs fell by 169.7 billion in March, their biggest decline since the coronavirus crisis broke out in February 2020.
An outflow of foreign currency, triggered in part by investor unease following Russia's invasion of Ukraine, was among factors which prompted the central bank to devalue the pound by 14% on March 21.
NFAs represent banking system assets owed by non-residents minus liabilities. Changes in their size represent net transactions of the banking system with the foreign sector, including those of the central bank, according to the bank.
Any movement could represent changes in import or export flows, foreign portfolio outflows, repayment of foreign debt, changes in the flow of worker remittances or a slowdown in tourism, analysts said.
($1 = 18.5300 Egyptian pounds)
(Reporting by Moataz Mohamed and Patrick Werr; Writing by Nadine Awadalla; Editing by Kirsten Donovan and Alison Williams)
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Egypt sets customs exchange rate of 18.64 pounds/dollar in June
Oggi 09:38 - RSF
CAIRO, June 1 (Reuters) - Egypt has set a customs exchange rate of 18.64 Egyptian pounds to the U.S. dollar in June, a change from 17 in May, the customs authority said in a statement on Wednesday.
Egypt devalued its pound by 14% in March after foreign investors pulled billions of dollars out of Egyptian treasury markets, putting pressure on the currency, following Russia's Feb. 24 invasion of Ukraine. [L2N2VO0AH]
(Reporting by Ahmed Ismail and Mahmoud Mourad; Writing by Alaa Swilam; Editing by Catherine Evans)
(([email protected])
Oggi 09:38 - RSF
CAIRO, June 1 (Reuters) - Egypt has set a customs exchange rate of 18.64 Egyptian pounds to the U.S. dollar in June, a change from 17 in May, the customs authority said in a statement on Wednesday.
Egypt devalued its pound by 14% in March after foreign investors pulled billions of dollars out of Egyptian treasury markets, putting pressure on the currency, following Russia's Feb. 24 invasion of Ukraine. [L2N2VO0AH]
(Reporting by Ahmed Ismail and Mahmoud Mourad; Writing by Alaa Swilam; Editing by Catherine Evans)
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UPDATE 1-Egypt awards eight gold and metal mining exploration licences
Oggi 10:26 - RSF
(Adds context)
CAIRO, June 1 (Reuters) - Egypt awarded eight gold and metal mining exploration licences in the eastern desert region, the petroleum ministry said on Wednesday, as it seeks to increase investments in this underdeveloped industry.
Four companies won the licences - Lotus Gold, AKH Gold, Marine Logistics Gold Mining and Ankh Resources, a source at the ministry said.
Egypt has a history of gold-mining stretching back to the pharaohs but now has only one commercial gold mine in operation, Centamin's Sukari, in the eastern desert region. Sukari contributes up to $900 million a year to the Egyptian economy.
The country is targeting $1 billion dollars of investment in the sector.
(Reporting by Ahmed Ismail Writing by Maher Chmaytelli Editing by David Goodman)
(([email protected])
Oggi 10:26 - RSF
(Adds context)
CAIRO, June 1 (Reuters) - Egypt awarded eight gold and metal mining exploration licences in the eastern desert region, the petroleum ministry said on Wednesday, as it seeks to increase investments in this underdeveloped industry.
Four companies won the licences - Lotus Gold, AKH Gold, Marine Logistics Gold Mining and Ankh Resources, a source at the ministry said.
Egypt has a history of gold-mining stretching back to the pharaohs but now has only one commercial gold mine in operation, Centamin's Sukari, in the eastern desert region. Sukari contributes up to $900 million a year to the Egyptian economy.
The country is targeting $1 billion dollars of investment in the sector.
(Reporting by Ahmed Ismail Writing by Maher Chmaytelli Editing by David Goodman)
(([email protected]
)
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Egypt finance minister says financing in next FY will be partly via sukuk -state news agency
04/06/2022 11:43 - RSF
CAIRO, June 4 (Reuters) - Sukuks, or Islamic bonds, will be part of Egypt's funding in the next financial year, the state news agency (MENA) reported on Saturday, quoting Finance Minister Mohamed Maiit.
Egypt's coming financial year kicks off on the first of July.
Maiit added that the value of the sukuks had not been fixed so far and, regarding green sukuks, he said "we're not there yet".
(Reporting by Omar Fahmy and Yasmin Hussein, writing by Yasmin Hussein, editing by Mark Heinrich)
04/06/2022 11:43 - RSF
CAIRO, June 4 (Reuters) - Sukuks, or Islamic bonds, will be part of Egypt's funding in the next financial year, the state news agency (MENA) reported on Saturday, quoting Finance Minister Mohamed Maiit.
Egypt's coming financial year kicks off on the first of July.
Maiit added that the value of the sukuks had not been fixed so far and, regarding green sukuks, he said "we're not there yet".
(Reporting by Omar Fahmy and Yasmin Hussein, writing by Yasmin Hussein, editing by Mark Heinrich)
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MEDIA-EU, Egypt near gas supply deal in shift away from Russia- Bloomberg News
03/06/2022 14:20 - RSF
-- Source link: Bloomberg - Are you a robot?
-- Note: Reuters has not verified this story and does not vouch for its accuracy
((Bengaluru newsroom, [email protected]))
03/06/2022 14:20 - RSF
-- Source link: Bloomberg - Are you a robot?
-- Note: Reuters has not verified this story and does not vouch for its accuracy
((Bengaluru newsroom, [email protected]))