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
23 Jan 2017
Cairo-based investment bank Pharos Holding is planning to launch a new equity fund within the next few months, chairman Mohamed Taymour announced Sunday.
The capital of the new fund will be worth more than 1 billion"...Continue Reading
22 Jan 2017
The International Monetary Fund (IMF) will release in an online conference on Wednesday the staff report and documents related to Egypt’s three-year $12 billion loan agreement.
The online conference, to take place at 5pm Cairo Time, will see the first comprehensive report released by the IMF on the loan agreement with Egypt.
The IMF deal...
22 Jan 2017
The board of United Bank of Egypt has appointed Nevine Kashmiri as the assistant to the managing director of the department for funding large as well as small- and medium-sized enterprises.
According to a statement"...Continue Reading
18 Jan 2017
Crédit Agricole Egypt has confirmed Tuesday requesting a $30 million subordinated loan from the French parent Crédit Agricole bank.
The loan is to support Crédit Agricole Egypt’s tier two"...Continue Reading
14 Jan 2017
Egypt’s Central Bank Governor Tarek Amer said yesterday that foreign investors would be able to repatriate profits and capital “in the coming period” now that hard currency reserves were recovering, state news agency MENA reported.
Egypt’s official foreign reserves fell as low as $19bn in October, prompting it to float its pound currency...
13 Jan 2017
Bank of America today reported its fourth-quarter 2016 financial results. The news release, supplemental filing and investor presentation can be accessed in the following ways:
10 Jan 2017
Egypt and Russia have agreed on a number of items included in the Dabaa nuclear power plant contract, including the items on credit packages and bank guarantees.
Government sources told Daily News Egypt that technical"...Continue Reading
09 Jan 2017
The Housing and Development Bank (HDB) increased the number of its branches to 70 by the end of 2016, after the inauguration of the latest branch in Port Said as the bank seeks to grow its foothold in the region and continent.
09 Jan 2017
The Egyptian pound strengthened slightly at banks as demand for dollars by importers eased, bankers told Reuters on Sunday. The dollar was being bought for around 18 pounds at most banks, down from around 19 last week. Banks were paying clients around 17.8"......
The Egyptian pound strengthened slightly at banks as demand for dollars by importers eased, bankers told Reuters on Sunday.
The dollar was being bought for around 18 pounds at most banks, down from around 19 last week. Banks were paying clients around 17.8"......Continue Reading
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