BANKING

01 Mar 2015

Egypt's central bank keeps benchmark interest rates unchanged


Egypt's central bank kept its benchmark interest rates unchanged on Thursday as it balances the needs to manage high inflation with encouraging economic growth, the bank said in a statement.


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01 Mar 2015

FEB develops 17 informal areas

The Federation of Egyptian Banks (FEB) has allocated EGP 300m to complete development projects in 17 informal areas in Helwan and east of Nasr City, according to Dalia Abdel Kader, the FEB’s Community Development head.


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01 Mar 2015

National Bank of Egypt eyes €170 million Global Pacts at March Summit

The National Bank of Egypt intends to sign two agreements worth €170 million with two global financial institutions during the country’s Economic Summit scheduled for mid March.


The"...

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25 Feb 2015

African Bank to pump US$500 mn supporting Egypt-Africa trade

The African Export-Import Bank will avail funds worth of US$500 million designed to facilitate trade between Egypt and other member states of the 37-country bank, Egypt’s Ministry of Trade and Industry said Tuesday. Minister Mounir Fakhry Abdel Nour said the finances declared by the bank represent a big opportunity for Egyptian exporters and investors...

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25 Feb 2015

Egypt’s pound officially stable, stronger in black market

The Egyptian pound stabilized at 7.53 per U.S. dollar Tuesday after a regular Monday Central Bank foreign exchange auction, while the local currency was stronger in the parallel market.


Over"...

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24 Feb 2015

World Bank Group Engages Stakeholders on New Country Strategy for Egypt

The World Bank Group’s second round of discussions with various stakeholders throughout Egypt is taking place this week in Cairo, Alexandria and Aswan to prepare for a new partnership strategy which will guide the Group’s engagement in the country over the next five years.

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23 Feb 2015

Central banks watch: Yellen and Draghi to speak, Turkey, Israel, Hungary, Egypt, Albania, Kenya and Angola to set rates

Rate decisions scheduled for the last week of February are from less important emerging markets and therefore, the focus is on Congress testimony by Fed Chair Janet Yellen and a speech by the ECB President Mario Draghi.


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22 Feb 2015

Banque du Caire eyeing Economic Summit projects


State-owned Banque du Caire aims to finance several projects the government will present in the March Economic Summit, said the bank’s Vice-Chairman Mohamed Taha.

Taha said his bank has a large"...

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16 Feb 2015

World Bank wants to loan $1 bln to ‘polluted villages project’: Housing minister


The World Bank is interested in participating in the “polluted villages’ project” with $1bn in loans, Minister of Housing Mostafa Madbouly said Sunday.


The loan will be used for the project in Al-Salam Canal in"......

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16 Feb 2015

Etisalat Egypt receives $120m Bank of Abu Dhabi and HSBC loan

Etisalat Egypt has signed an agreement with the National Bank of Abu Dhabi (NBAD) and HSBC for a $120m loan, $60m from each bank, to be repaid within three years.


Engineer Said El-Hamly, Executive Director of Etisalat Egypt, said the cooperation with the two banks comes along with the company’s strategy to"......

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