logo
Egypt's foreign reserves reach $48.7 billion by June

Egypt's foreign reserves reach $48.7 billion by June

Basant Ahmed
The Central Bank of Egypt announced that the net international reserve rose to $48.7 billion by the end of June 2025 up from $84.562 billion in May an increase of $174 million this marks the latest step in a steady upward trend that has seen Egypt's reserves strengthen over recent months.
In May 2025, the CBE had previously reported an increase in foreign currency reserves to $48.526 billion, compared to $48.144 billion recorded in April. The reserves also grew in April, reaching $48.144 billion, up from $47.757 billion at the end of March 2025, reflecting ongoing resilience in Egypt's external position.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
News
China Launches Largest Ever Aircraft Carrier
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
News
"Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
News
Flights suspended at Port Sudan Airport after Drone Attacks
Arts & Culture
Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Technology
50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Turkish Ambassador Announces Polaris Industrial Zone in Sedat City
Turkish Ambassador Announces Polaris Industrial Zone in Sedat City

See - Sada Elbalad

time2 hours ago

  • See - Sada Elbalad

Turkish Ambassador Announces Polaris Industrial Zone in Sedat City

H-Tayea Turkish Ambassador to Egypt, Salih Mutlu Şen, has reported a major new development in regional industrial cooperation, announcing that Polaris International Parks is launching a $50 million industrial zone project in Sedat City. The initiative, led by General Manager Osman Arıkan, will span 1.3 million square meters and is set to accommodate 200 factories, marking a significant step forward in strengthening Turkish-Egyptian economic ties. According to Arıkan, the new industrial zone reflects Polaris's strategic vision to foster large-scale, high-impact industrial growth in key locations across the region. With a focus on infrastructure readiness, investor attraction, and export potential, the Sedat City project is expected to become a major hub for advanced manufacturing and logistics. The project underlines the growing momentum in Turkish-Egyptian industrial collaboration, with Ambassador Şen emphasizing the importance of such ventures in expanding bilateral trade, creating employment opportunities, and supporting long-term development in both countries. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Columbia University to Pay $221 Mln in Federal Settlement
Columbia University to Pay $221 Mln in Federal Settlement

See - Sada Elbalad

time5 hours ago

  • See - Sada Elbalad

Columbia University to Pay $221 Mln in Federal Settlement

Israa Farhan Columbia University has reached a $221 million settlement with the United States federal government, resolving multiple investigations and restoring access to suspended federal funding, the institution confirmed on Wednesday. The agreement includes a $200 million payment over three years related to investigations into alleged antisemitism on campus, as well as a $21 million settlement with the US Equal Employment Opportunity Commission. The deal follows months of federal scrutiny and marks a turning point for one of America's most prestigious academic institutions. Crucially, Columbia retains full autonomy over core academic affairs, including faculty appointments, admissions policies, and curricular design. Acting President Claire Shipman described the outcome as a vital step toward restoring institutional stability and clarity after a prolonged period of regulatory tension. As part of the agreement, the majority of federal research grants suspended or revoked earlier in the year will be reinstated, providing a significant financial lifeline to the university's research and academic programs. The settlement comes one day after Columbia imposed disciplinary action on dozens of students involved in pro-Palestinian demonstrations in spring 2024 and May 2025. These sanctions include expulsions, suspensions, probations, and revocation of degrees. The university had become a central stage for nationwide protests against the war in Gaza. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Gold Prices Decline Locally and Globally Amid Profit-Taking and Improved Risk Appetite
Gold Prices Decline Locally and Globally Amid Profit-Taking and Improved Risk Appetite

See - Sada Elbalad

time6 hours ago

  • See - Sada Elbalad

Gold Prices Decline Locally and Globally Amid Profit-Taking and Improved Risk Appetite

Waleed Farouk Gold prices saw a notable decline in Thursday's trading, weighed down by profit-taking after the precious metal reached a five-week high. Improved global risk sentiment also reduced demand for gold as a safe haven. In the local market, gold prices fell by approximately EGP 30, with 21-karat gold recording EGP 4,650 per gram, while the ounce dropped by around $25 to $3,365. The other gold price levels were as follows: 24-karat gold: EGP 5,314 18-karat gold: EGP 3,986 14-karat gold: EGP 3,100 Gold pound coin: EGP 37,200 On Wednesday, prices also ended the session lower, with 21-karat gold opening at EGP 4,710 and closing at EGP 4,680. Meanwhile, the gold ounce dropped from $3,432 to $3,390. Selling Pressure on Gold and Silver Amid Improved Global Sentiment Trading opened today with renewed selling pressure on gold and silver, driven by improved investor sentiment following positive developments in global trade. These include the finalization of a trade deal between the United States and Japan, along with reports of a potential 15% tariff reduction between Washington and Brussels. At the same time, the U.S. dollar saw a modest recovery after three consecutive days of losses, which drew some liquidity away from the gold market. However, ongoing uncertainty regarding the timing of interest rate cuts by the Federal Reserve capped the dollar's gains, offering some support to the yellow metal. Markets Eye the Fed Amid Monetary Policy Uncertainty Despite expectations that the Federal Reserve will keep rates unchanged in its late July meeting, markets continue to price in at least one rate cut before the end of Q4. This comes amid growing divisions within the Fed, with key members like Christopher Waller and Michelle Bowman advocating for a rate cut at the upcoming July 30 policy meeting. These internal divisions, coupled with mounting political pressures, add to the uncertainty surrounding the future direction of U.S. monetary policy and weigh on both the dollar and precious metals. Silver Under Market Pressure but Supported by Industrial Demand Silver, meanwhile, has been affected by the general weakness in precious metals. Still, it continues to receive relative support from growing industrial demand, particularly in sectors like electronics, clean energy, and photovoltaic cells. The movement in silver prices also remains influenced by other factors, including U.S. bond yields, the strength of the dollar, and upcoming economic data, all of which may redirect investor sentiment in the short term. Focus Turns to Key Economic Data and ECB Decision Investors are now closely watching a series of key economic indicators due later today, including preliminary Purchasing Managers' Index (PMI) readings, U.S. jobless claims, and new home sales. These data points could reshape market expectations regarding the Fed's next move and the dollar's direction. Meanwhile, attention is also on the upcoming monetary policy decision by the European Central Bank (ECB), which could add another layer of short-term volatility to gold and silver markets. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store