Page 49 - Patrick Werr News Today : Breaking News, Live Updates & Top Stories | Vimarsana

3 Min Read CAIRO (Reuters) - Egypt’s economy will grow by 2.9% in the fiscal year that ends in June and will accelerate to 5.0% in the following year as the coronavirus pandemic recedes and tourists return, a Reuters poll of 23 economists showed on Thursday. FILE PHOTO: General view of hotels, banks and office buildings by the Nile River in Cairo, Egypt January 28, 2021. REUTERS/Mohamed Abd El Ghany The 2020/21 figure is slightly higher than the 2.8% forecast by both Finance Minister Mohamed Maait on April 5 and economists in a Reuters poll three months ago. April’s consensus was signific...

By Reuters Staff 2 Min Read FILE PHOTO: Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany CAIRO (Reuters) - Egypt’s current account deficit widened to $4.8 billion in October-December from $3.2 billion in the same period in 2019, according to central bank figures released on Monday. Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 billion a year earlier, while tourism revenues plunged to $987 million from $3.1 billion, Reuters calc...

Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply chains were thrown into disarray when the 400 metre (430 yard) Ever Given ran aground in the ...

Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply chains were thrown into disarray when the 400 meter (430 yard) Ever Given ran aground in the canal on March 23, with specialist rescue teams taking almost a week to free the vessel. Around 400 vessels were affected by the canal’s closure, which led to some having to divert around Afri...

3 Min Read CAIRO (Reuters) - Archaeologists said on Thursday they had uncovered a large ancient pharaonic city that had lain unseen for centuries near some of Egypt’s best known monuments. Slideshow ( 5 images ) The city was built more than 3,400 years ago during the opulent reign of Amenhotep III, one of Egypt’s most powerful pharaohs, the Egyptian archaeologist overseeing the excavations, Zahi Hawass, said. The team began searching for a mortuary temple near Luxor in September, but within weeks found mud brick formations in every direction, Zahi Hawass said in a statement. They unearthe...