BANKING

05 Mar 2017

2017 poised to tough for Egyptian consumers: Arqaam Capital

The Central Bank of Egypt’s (CBE) decision to float the currency should improve the US dollar availability and relieve producers from resorting to the parallel market. Yet, from a corporate perspective it will cause an inflation hike, since 60% of the cost of goods sold across the sector are USD-denominated. A number of consumer names in Egypt are net...

Continue Reading

05 Mar 2017

World Bank delegation to visit Egypt in first half of March – minister

A senior delegation of the World Bank Group will be visiting Egypt in the first half of March to hear more about reform policies undertaken by the government to revive the Egyptian economy, Egypt's Minister of International Cooperation Sahar Nasr said on Wednesday.

In"...

Continue Reading

28 Feb 2017

Egypt banks cleared to repatriate foreign firms' long-held profits

Egyptian banks are set to allocate about a quarter of their excess hard currency to foreign firms seeking to repatriate profits, bankers said on Tuesday, helping ease a backlog built up before the country's pound was floated in November.

Foreign"...

Continue Reading

28 Feb 2017

National Bank of Kuwait Q4 net profit rises 45.7% in Egypt

National Bank of Kuwait (NBK), the Gulf Arab state’s largest commercial lender, posted a 45.7 percent rise in fourth-quarter net profit in Egypt, the bank’s financial statements showed Monday.

The bank"...

Continue Reading

26 Feb 2017

EGTAK renews insurance cover deal for United Bank of Egypt’s assets

Egyptian Takaful Property and Liability Insurance (EGTAK) has renewed an insurance coverage agreement with the state-run United Bank of Egypt for the third consecutive year.

According to the agreement, the United"...

Continue Reading

26 Feb 2017

Egypt’s budget coming under control: Top banker

Egypt will receive in March the second $1 billion tranche of a $3 billion World Bank (WB) loan aimed at supporting a government economic reform program, central bank Gov. Tarek Amer said late on Friday.
The country has been negotiating billions of dollars in aid from various lenders to revive an economy hit by political upheaval since a 2011 revolt and to...

Continue Reading

26 Feb 2017

Egypt to receive second tranche of World Bank loan in March

Egypt will receive in March the second $1 billion tranche of a $3 billion World Bank (WB) loan aimed at supporting a government economic reform programme, Central Bank Governor Tarek Amer said late on Friday.

The country has been negotiating billions of dollars in aid from various lenders to revive economy and to ease a dollar shortage.

Facing...

Continue Reading

26 Feb 2017

Afreximbank considers new loans to Egypt

The African Export-Import Bank (Afreximbank) is studying a number of loans for Egyptian investors as well as banks and financial institutions in the country worth $1.2 billion and $500 million, respectively.

Heba"...

Continue Reading

23 Feb 2017

China’s giant ICBC bank to invest $20 billion in Egypt over 10 years

The world’s biggest lender by assets, state-owned Industrial and Commercial Bank of China Limited (ICBC) will invest $20 billion in Egypt over the next ten years, general manager of the Africa branch Ivy Tsai said Wednesday.

The"...

Continue Reading

18 Feb 2017

Egypt central bank leaves key interest rates unchanged as pound strengthens

The Central Bank of Egypt (CBE) left its key interest rates unchanged on Thursday at a meeting of its Monetary Policy Committee (MPC), holding fire as the pound currency strengthened to its lowest rate versus the dollar since it was floated in November.

"...

Continue Reading
Found articles: 20 - Pages  « 2 
Contact US | Powered by CNPHUB.com - All Rights Reserved