BANKING

19 Aug 2014

IFC, ITIDA Help Improve ICT Skills in Egypt

IFC, a member of the World Bank Group, today signed an agreement to help enhance the skills of prospective information and communication technology (ICT) workers in Egypt, develop sector specific education and training, and improve the employability of ICT graduates.


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14 Aug 2014

Faisal Islamic Bank of Egypt selects SunGard risk management solutions

Faisal Islamic Bank of Egypt, the first Islamic Bank in Egypt, has selected SunGard’s suite of enterprise risk management solutions to help build a new operational framework for improved risk exposure, reporting and Basel compliance.


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06 Aug 2014

IFC Boosts Urban Development, Create New Jobs in Egypt

IFC and the European Bank for Reconstruction and Development (EBRD), are providing loans of $60 million each for a benchmark urban development project in West Cairo that is expected to create more than 2,400 new jobs. The loans will be complemented by a $20 million loan from the Commercial International Bank (CIB), a local Egyptian bank.

The"...

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05 Aug 2014

IFC, EBRD invest $60m in Mall of Arabia

The International Finance Corporation (IFC), a member of the World Bank Group and the European Bank for Reconstruction and Development (EBRD), has approved a $60m loan to complete the Mall of Arabia shopping centre, the IFC announced Monday.


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02 Aug 2014

Egypt’s bourse record EGP 3.6bn in highest gains in 6 years

Egypt's bourse indices recorded collective gains at the end of Thursday's trading, amid intensive purchases by foreign investors.

The market capital gained about 3.6 billion pounds to reach 501 billion pounds, amid transactions"...

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31 Jul 2014

UPDATE 2-Barclays focuses on corporate lending in S Africa

Barclays Africa Group is focusing on lending to companies in South Africa to counter a drop in retail credit as the financial health of households in its biggest market deteriorates.


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30 Jul 2014

Egypt: World Bank sees widening of ‘shadow’ economy

It is not hard to find evidence of Egypt’s extensive informal economy. It is present everywhere from the rickety microbuses that are poor Egyptians’ main means of transport, to the myriad small businesses which repair, build, supply and otherwise serve the needs"......

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27 Jul 2014

7 banks raise interest rates on deposits after Central Bank decision


Seven banks have raised prices on returns, in a weak response to the Central Bank of Egypt’s (CBE) decision to raise various rates on deposits and lending.


A recent CBE decision saw an increase in the benchmark overnight"......

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21 Jul 2014

Egypt's stocks slide after CBE interest rate hike

EGX30 down 0.72 percent after interest rates were raised last week as a precautionary measure against inflation from fuel price hikes.

Egypt's stocks fell on Sunday in its first session since the country's central bank decided to raise interest rates to control inflation expected"...

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20 Jul 2014

SODIC, CIB sign EGP300m loan for Westown project

An EGP300m medium term loan was signed Wednesday between the Sixth of October Development and Investment Co. (SODIC) and the Commercial International Bank (CIB), SODIC said Wednesday in a statement.


“The"...

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