عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Egypt's Central Bank Raises Key Interest Rates by 100 Basis Points

Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany
Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany
TT
20
TT

Egypt's Central Bank Raises Key Interest Rates by 100 Basis Points

Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany
Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany

Egypt's central bank raised its key interest rates by 100 basis points in an exceptional monetary policy committee meeting, it said in a statement on Monday.

The central bank set its overnight lending rate at 10.25% and its overnight deposit rate at 9.25% citing global inflationary pressures amplified by the war in Ukraine.

The monetary policy committee had been scheduled to meet on March 24.

Egypt's pound currency traded at 17.42-17.52 against the US dollar on Monday, Refinitiv data showed.

The currency had been trading at around 15.7 pounds to the dollar a day prior.

Most Viewed

 
Business

Saudi Arabia Makes Significant Progress in 2025 International IP Index

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
TT
20
TT

Saudi Arabia Makes Significant Progress in 2025 International IP Index

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)

Saudi Arabia made significant progress in the 13th edition of the US Chamber of Commerce's International IP Index, recording a 17.55% increase in its overall score and ranking among the top countries for progress out of 55 global economies.

This milestone highlights the Kingdom's commitment to strengthening its intellectual property ecosystem and fostering innovation in line with the goals of Vision 2030.

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. Key developments included extending the term of design protection to 15 years, establishing a dedicated prosecution office for IP offenses, and strengthening the electronic enforcement of copyrights and trademarks.

These efforts contributed to raising the Kingdom’s overall score from 36.6% in 2019 to 53.7% in 2025—a cumulative increase of more than 40% over six years.

This progress reflects the efforts of the Saudi Authority for Intellectual Property, in collaboration with relevant entities, to build an integrated system that enhances investor and innovator confidence.

It also reaffirms the Kingdom’s growing position as a regional hub for the creative and knowledge-based economy.