BANKING

29 Sep 2016

Point72 Asset Management Recruits Internationally for 2017 Academy Program

Point72 Asset Management (Point72), the family office managing the assets of investor and philanthropist Steve Cohen, is expanding its groundbreaking Point72 Academy Program to recruit students internationally from Asia and Europe and expects to add up to 15 students to its full-time Financial"...

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28 Sep 2016

AlexBank secures Germany’s SANAD $10 mln loan for Egypt MSMEs

Egypt's AlexBank, a member of Italian bank Intesa Sanpaolo Group, has received Tuesday an additional $10 million from SANAD Fund for MSMEs, of the German state-run Kfw Development Bank.

The new loan is designated"...

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27 Sep 2016

International banks okay financing for renewable energy projects

International banks and institutions have agreed to finance the second phase of the renewable energy feed-in tariff projects after meeting with officials from the Ministry of Electricity and Renewable Energy.

In"...

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27 Sep 2016

Capital Intelligence affirms National Bank of Egypt at ‘B-/B’

Capital Intelligence Ratings (CI Ratings) announced Thursday that it has affirmed National Bank of Egypt’s (NBE) long-term foreign currency rating (FCR) at ‘B-’ and the short-term FCR at ‘B’, with a stable outlook.

CI"...

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27 Sep 2016

Dubai Eyes Stronger Trade Ties With Argentina Ahead of Global Business Forum on Latin America

Dubai Chamber’s President and CEO H.E. Hamad Buamim: Argentina is a strategic partner and a gateway to South America


......

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26 Sep 2016

A.M. Best Special Report: Pressure on MENA Reinsurance Market Persists as Regional Players Produce Mixed Earnings

Reinsurance markets in the Middle East and North Africa region (MENA) are generally perceived as a source of expansion, with continued market liberalisation and the gradual removal of sanctions from Iran expected to yield further opportunities for reinsurers. Furthermore, the robust, albeit"...

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24 Sep 2016

The CBE’s strategy to encircle imports failed to save dollars

Eight months has passed since the government adopted its strategy to rationalise imports in collaboration with the Central Bank of Egypt (CBE). This strategy aims to control the foreign currency shortage in the market and face the rising price of the US dollar in the informal market. However, this has all been in vain. The exchange rate of the dollar rose to...

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21 Sep 2016

Egypt’s relations with IFC, EBRD are strategic, allegations about halting projects are untrue: International Cooperation Minister

Egypt’s relations with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) are strategic, according to Minister of International Cooperation Sahar Nasr. She denied the rumours about them stopping their projects in the local market in Egypt, stressing that their portfolio cooperation with Egypt has...

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21 Sep 2016

Dollar-Hunting Egypt Investors Turn to Most Expensive Trade Yet

As one door for turning Egyptian pounds into dollars slams shut, investors are forcing open another.

Overseas shares of EFG-Hermes Holding have sprung into life in the past three months, as institutions desperate"...

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20 Sep 2016

Egypt says it's in talks with China over $4B loan

CAIRO (AP) -- An Egyptian Cabinet minister says the government is negotiating a $4 billion loan with China.

Minister of International Cooperation Sahar Nasr is quoted by the official news"...

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