Cairo-Beni Suef Railway Will Undergo EUR 340 Million Upgrade cairoscene.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cairoscene.com Daily Mail and Mail on Sunday newspapers.
By Andrea Figueras A consortium formed by Thales and Orascom Construction has signed a contract with Egyptian National Railways to upgrade the Cairo-Beni.
Egypt's net foreign assets deficit narrowed by $808 million in July to a negative $26.2 billion, its first decline since March, revealed the central bank. Over the past three years, public finances in Egypt have been subjected to tremendous pressure, given a persistent shortage of foreign currency and sharp increase in the money supply. The central bank has fixed the official exchange rate for the Egyptian pound at about 30.90 against the dollar since early March. It has risen 15-20 percent in the parallel market.