Egypt's central bank decided on Thursday to freely float the pound and raise key interest rates and announced a set of measures aimed at alleviating a dollar shortage and stabilizing the country's flagging economy.

The strategic reserves of subsidized goods will cover a period of between four and six months, said Supply Minister Mohamed Meselhy said on Monday.

The price of subsidized sugar has been increased to LE7 per kilo, with the new price applied to subsidy cards through November.

The chairman of the World Travel and Tourism Council (WTTC), David Scowsill, has praised the security measures applied at Egyptian airports in the past year, saying that tourism will return to pre-2011 levels by early 2017, according to Al-Watan newspaper.

Petroleum Minister Tareq al-Molla announced on Monday an agreement with Iraq to import Basra crude oil for refining in Egypt, as part of a broader plan to increase bilateral petroleum-industry cooperation.

Antiquities Minister Khaled Anani will open on Friday an exhibition in Luxor Museum displaying 22 artifacts discovered by the Egyptian-French archaeological mission during its work at the Ramesseum Temple.

President Abdel Fatah al Sisi on Wednesday received Chairman of the European Parliament’s Delegation for Relations with the Mashreq countries Marisa Matias and her accompanying members of the delegation.

The cabinet has initially approved in principal a draft law regulating the rights of individuals with disabilities, Youm7 reported Wednesday.

A 400-tourist group from China arrived in the Cairo International Airport on Wednesday to visit the Egyptian archeological sites for a week, an official at the airport told Ahram newspaper.

A four-year-old child was found killed and thrown a garbage tin two days after being reportedly missing in Upper Egypt’s Minya, Ahram said on Wednesday.

Egyptian Minister of Agriculture has announced that state of emergency nationwide to face the possible treats of the this winter floods, which hit several governorates in Egypt, stated Minister of Agriculture Essam Fayed in a statement on Wednesday.

Egypt’s local currency has been noticeably strengthened against the US dollar on the black market on Wednesday amid expectations of upcoming measures by the government to control the exchange rate.

The co-founders of the Tamarod campaign – whose petitions against Islamist president Mohamed Morsi eventually led to his ouster in 2013 – dismissed on Tuesday as “lies” the recent remarks by ex-vice president Mohamed ElBaradei on his role in Morsi’s ouster and its aftermath.

Egypt's budget deficit hit 12.2 percent of the Gross Domestic Product (GDP), at EGP 339.5 billion for fiscal year 2015/16, the finance ministry said in an official statement on Wednesday.

Egyptian authorities at the Cairo International Airport barred political activist Malek Adly from traveling abroad on Wednesday as his name was put on no-fly list, Egypt’s state-owned newspaper al-Ahram reported. He was going to travel to Paris.

The Suez Canal Authority expects to hear back from three major shipping firms shortly about its proposal to give discounts on fees for using the waterway if they are paid in advance, its chairman said on Wednesday.

Egypt’s Supreme Investment Council on Tuesday approved a host of measures to boost investment that included an extended suspension of capital gains tax on shares and tax exemptions for producers in strategic sectors.

Former Egyptian vice president Mohamed ElBaradei released a long statement on Tuesday defending himself against what he described as a years-long "smear campaign" against him by the Egyptian media.

Egypt's prosecution has ordered on Wednesday a 15 day detention for five men over inciting protests on 11 November and joining a terrorist group that aims to obstruct state institutions.

Egypt and Jordan will conduct joint military drills next week at Jordan's Armed Forces/Arab Army (JAF) military fields, Jordanian news agency Petra reported.

Egypt's army said it is continuing efforts to overcome the damaging effects of floods in the Red Sea area and Upper Egypt last weekend, an army spokesperson said on Wednesday.