BANKING

24 Apr 2014

Egypt pounds weakens at official rate, strengthens on black market


The Egyptian pound weakened at a central bank dollar sale on Wednesday but strengthened on the black market.


The central bank said it sold dollars at a cut-off price of 6.9853 pounds, weaker than the rate of 6.9802 pounds at its last sale on Thursday before a long holiday weekend.


"......

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23 Apr 2014

MBA-Renewables Distance Learning Master Degree Has Been Awarded Official International Accreditation

(ME NewsWire)-- The MBA-Renewables Distance Learning Master degree conducted since 2011 by the German Beuth University of Applied Sciences in Berlin jointly with the Renewables Academy (RENAC) has received the official accreditation of the"......

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22 Apr 2014

Bank of America Reports First-quarter 2014 Net Loss of $276 Million, or $0.05 per Diluted Share, on Revenue of $22.8 Billion(A)

Results Include Litigation Expense of $6.0 Billion (Pretax) or Approximately $0.40 per Share (After Tax)

Previously Announced Capital Actions Include Common Stock Dividend Increase to $0.05 Per Share in Q2-14 and"...

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19 Apr 2014

Nigeria: Mr Waheed A Olagunju Appointed Acting Managing Director/CEO, Bank of Industry (BOI)

The Bank of Industry (BOI) has appointed Mr Waheed A Olagunju as Acting Managing Director and Chief Executive Officer.


Prior to his new appointment, Mr Olagunju served on BOI’s Board of Directors as Executive Director, Business Development. Previously, he was the Company Secretary of BOI for nearly 16 years"......

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16 Apr 2014

AfDB's 'Egypt-COMESA Trade Enhancement Forum' Brings Together Experts to Boost Regional Integration Through Trade and Investment

More than 70 senior officials representing the Common Market for Eastern and Southern Africa (COMESA) trade bloc, the Egyptian export and business council private sector, leading banks and related ministries, attended the African Development"...

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15 Apr 2014

Egypt pound weakens at central bank's dollar sale and on black market


The Egyptian pound weakened at a central bank dollar sale and on the black market on Monday, after hitting a six-month low last week.

The central bank said it sold dollars at a cut-off price of LE"...

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13 Apr 2014

Bank Muscat and AIG Form Bancassurance Partnership in Oman

Bank Muscat, the flagship financial services provider in the Sultanate of Oman, and American International Group, Inc (NYSE: AIG) today announced that they have entered into a 10-year strategic bancassurance agreement under which AIG will become the exclusive provider of non-life insurance"...

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09 Apr 2014

QNB Group: Financial Results for the Three Months Ended 31 March 2014

QNB Group, the World’s Strongest Bank and the leading bank in the Middle East and North Africa, announced its results for the three months ended 31 March 2014. These results include the financial results of QNB ALAHLI in Egypt.


...

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07 Apr 2014

ADIB Egypt registers first positive net income since 2007


Abu Dhabi Islamic Bank (ADIB) in Egypt announced its financial results for 2013, reporting its first positive net income since 2007 with EGP 103m. In 2012, the bank’s net income recorded EGP 855m.


"...

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06 Apr 2014

World Bank loans Egypt $300m to grow small businesses


The World Bank’s board of executive directors agreed on 1 April to loan Egypt $300m to help finance micro and small enterprises (MSEs), according to a statement from the organisation.


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