BANKING

26 Aug 2015

Hermes says Egyptian banks region's strongest in growth

EFG-Hermes said, in a recent study, Egyptian banks reported the strongest growth in the region, though marginally slower than the previous quarter, while Qatar banks reported a small but steady improvement.


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24 Aug 2015

NIB-Egypt eyes settling military production debts

The National Investment Bank (NIB) seeks to reach a debt settlement agreement worth 4.5 billion Egyptian pounds (US$575 million) with Ministry of Military Production soon, board member Momtaz al-Saeed said Sunday.


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17 Aug 2015

Averda Selects Kyriba for its Treasury Management Solution

(ME NewsWire)-- Kyriba Corp., the global leader in cloud-based Proactive Treasury Management, announced that Averda (averda™), the largest provider of integrated waste management solutions across the emerging world, has selected Kyriba for its treasury"...

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10 Aug 2015

Egypt pound steady at 7.73 to the dollar - central bank

The Egyptian central bank kept the pound unchanged from 7.73 against the dollar in Sunday's auction, after allowing it to depreciate twice last month.


The central bank said on its website that it offered $40 million and sold $37.8 million at an ask price of 7.7301, unchanged from the latest auction held last"......

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10 Aug 2015

Banks, individuals can fund Capital Cairo project: EFCBC head

Egyptian construction companies can develop the Capital Cairo project in five years, not in one year as declared by media outlets, said Hassan Abdel Aziz, head of the Egyptian Federation for Construction and Building Contractors (EFCBC).


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09 Aug 2015

National Bank of Egypt finances Tourism Sector with $64mn in July

Egypt’s biggest state bank, National Bank of Egypt has pumped 500 million Egyptian pounds (around US$64 million) in finances into the country’s tourism sector during July this year.


The"...

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06 Aug 2015

Egypt Foreign Reserves Drop Most Since 2013 on Debt Payment

Egypt’s foreign reserves declined at the fastest pace in more than two years after repaying debt and funding a widening trade deficit.


North Africa’s biggest economy saw its net international reserves drop 7.7 percent last month, the most since January 2013, to $18.5 billion, the central bank reported"......

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05 Aug 2015

National Bank of Egypt delays bond issue, to repay $600mn: CEO

National Bank of Egypt will postpone a new bond issuance and repay US$600 million of earlier bonds Wednesday, its chief executive said.


"After the fluctuation in international bond markets in the last period as a result of the Greek crisis... we have decided to temporarily postpone the new issuance until the right"......

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05 Aug 2015

Visa Opens Technology Center in Bangalore; Accelerates Digital Commerce Globally

Visa Inc. (NYSE:V) today announced the opening of a new technology development center in Bangalore, India, that will play a central role in the company’s efforts to accelerate digital commerce globally. As part of the opening ceremonies, Visa announced mVisa, a new mobile payment service"...

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05 Aug 2015

International Dairy Queen Opens First Location in Kuwait

The Dairy Queen® system, part of Berkshire Hathaway (NYSE: BRK.A and BRK.B), has opened a new DQ Grill & Chill® restaurant at the Marina Mall in Salmiya, Kuwait. The opening of this location makes Kuwait the 27th country outside the U.S. and Canada with a DQ® presence.

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