Last week, the Bank of Egypt has increased its benchmark rates following a devaluation of local currency by 10%. The moves are believed to be parts of measures taken by the government to address the shortage in foreign currency reserves. Now, the Egyptian government has announced on Sunday a new special program to secure foreign aid and investments.
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A senior German official said on Tuesday there was no reason to believe Greece would be in default after a 300 million euro payment to the IMF falls due on June 5.
Issues over tax payments and retrenchment of workers caused Konkola Copper Mines to seek court intervention.
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