Economy of Egypt

Mitsotakis meets Egyptian billionaire businessman Sawiris

Egyptian billionaire businessman Naguib Sawiris has reportedly expressed an interest in investing in Greece.
Sawiris, who is executive chairman of Orascom Investment Holding Group, declared his intentions during a meeting with Greek Prime Minister Kyriakos Mitsotakis at Maximos Mansion on Tuesday.

Egyptian pounds slides further following floatation

The Egyptian pound is trading in banks at around 16 to the dollar, down from the 13-pound peg the Central Bank set as a guiding exchange rate when it floated the currency last week.

Banks were selling the U.S. currency at 16 pounds while buying it at around 15.5 pounds on Nov. 6, the first full business day in Egypt since the Central Bank floated the currency on Nov. 3. 

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