BANKING

26 Nov 2014

Egypt central bank seen keeping rates on hold amid nascent recovery


Egypt's central bank is expected to keep interest rates on hold on Thursday as inflationary pressure continues to ease and policymakers seek to avoid stifling a nascent economic recovery in the most populous"...

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26 Nov 2014

Egypt one of the HSBC Group’s 19 global priority markets

Mona El Sayed, Head of Commercial Banking at HSBC Bank Egypt, talks to the Daily News Egypt about the company’s plans and assessment of the Egyptian economy.


What is the HSBC’s vision for the Egyptian economy in the coming period?


"......

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25 Nov 2014

Al Baraka Bank Egypt net income up 41pc

Al Baraka Bank Egypt, a subsidiary of Bahrain-based Al Baraka Banking Group (ABG), announced its net income for the first nine months of the year increased by 41 per cent to $24 million.


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25 Nov 2014

Egypt sells $1.796 billion dollar-denominated T-bills

Egypt’s central bank said it sold $1.796 billion in one-year dollar-denominated treasury bills to local banks and foreign financial institutions on Monday, more than the bank had expected when it announced the auction.

The government has relied mainly on the local money market to finance its public deficit since a popular uprising in early 2011...

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22 Nov 2014

Central Banks Watch: Israel, Egypt, Hungary and Nigeria to Set Rates, BoJ to Release Minutes

In the week of Thanksgiving Day celebrations in Japan and the US and GDP data releases from a few G10 as well as emerging economies, the central banks in focus will be those of Israel, Egypt, Columbia, Hungary and Nigeria.


Japan"......

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16 Nov 2014

Ratings on Egypt affirmed at 'B-/B'; outlook stable

“The affirmation reflects our view that Egypt's political landscape has begun to stabilize following a fairly smooth electoral process and a subsequent improvement in the security situation, alongside the implementation of a series of economic reform measures. In addition, given Egypt's"...

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12 Nov 2014

Currency black market to disappear within a year: CBE governor


Egypt's central bank (CBE) plans to eliminate the currency black market in less than a year, Hisham Ramez, the bank's governor, said on Tuesday.


The Egyptian pound saw a widening gap between its exchange rates on the official market"......

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11 Nov 2014

Banking Technology Summit kicks off with banks focusing on consumer security

Innovation and consumer security are considered the top priorities of Egyptian banks in 2015, announced Abeer Khedr, Director of Information Security of The National Bank of Egypt (NBE), during the Banking Technology Summit taking place in Cairo on Monday.


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08 Nov 2014

Egypt: CBE - Foreign Currency Reserves Hit U.S. 16.909 Billion

The Central Bank of Egypt (CBE) said Thursday 06/11/2014 that the country's foreign currency reserves were up slightly by $37 million or 0.21% in October.


Forex reserves hit $16.909 billion at the end of October against $16.872 billion in September, the CBE said in a press statement.


"......

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06 Nov 2014

Mastercard to Acquire TNS’ Payment Gateway Business

Transaction Network Services (TNS), a portfolio company of Siris Capital Group since February 2013, has entered into an agreement to sell its Payment Gateway Services business to MasterCard for an undisclosed sum.


MasterCard"......

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