18 Feb 2017
The Central Bank of Egypt (CBE) left its key interest rates unchanged on Thursday at a meeting of its Monetary Policy Committee (MPC), holding fire as the pound currency strengthened to its lowest rate versus the dollar since it was floated in November.
15 Feb 2017
The World Bank's global growth forecast for 2017 has something for everyone — from doubt, to caution, to cautious optimism. And while not mentioning US President Donald Trump by name, the report makes it clear his policies could change things considerably for much of the world, including"...Continue Reading
11 Feb 2017
Egypt's International Cooperation Minister Saher Nasser signed a grant deal with the African Development Bank on Thursday to restructure the state's Nasser Social Bank, the ministry stated on its website.
07 Feb 2017
Egypt paid its $630 million financial obligation in January to Italy's Eni to develop the biggest gas fields ever found in the Mediterranean, Rami Aboul Naga, assistant sub-governor for foreign reserves at the Central Bank of Egypt, told state news agency MENA on Feb. 7.
02 Feb 2017
The total volume of deposits at banks operating in Egypt, aside from the central bank, rose to 2.224 trillion Egyptian pounds ($117.4 billion) at the end of October.
Earlier in September, deposits stood at 2.202"...Continue Reading
31 Jan 2017
In early 2015, the Egyptian government spent some LE 300 million on a splashy economic development conference in Sharm el-Sheikh that aimed to win back the confidence of foreign investors. A few months later, President Abdel Fattah el-Sisi unveiled a LE 64-billion upgrade to the Suez Canal,"...Continue Reading
30 Jan 2017
The National Bank of Egypt (NBE) arranged and managed 10 syndicated loans at a total value of EGP 50bn during 2016, according to NBE deputy chairperson Mahmoud Montasser.
Montasser said that the NBE participated with EGP 14bn, or 28% of the total value, and he pointed out that the bank owns"...Continue Reading
29 Jan 2017
The National Bank of Egypt (NBE) and e-finance company signed 14 cooperation agreements with the Egyptian government around the country, so students would pay their tuition fees electronically, according to NBE vice president Yehia Abu ElFotouh.
Abu ElFotouh explained that during the first"...Continue Reading
25 Jan 2017
The African Export-Import Bank (Afreximbank) plans to sign $500 million credit line contracts with two state-owned banks from Egypt within two weeks, a source with knowledge in Afreximbank said Tuesday.
The credit"...Continue Reading
24 Jan 2017
Banque Misr and the National Bank of Egypt (NBE) said they obtained definitive judicial rulings to sell most of Dreamland’s assets, which is owned by Ahmed Bahgat, as well as other rulings obligating Bahgat, as head of Dreamland Group, to pay EGP 600m to both banks.
In a press release"...Continue Reading
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