BANKING

13 Jun 2017

Egyptian bank eyes acquisition in Nigeria, Kenya

Egypt’s invetsment bank, EFG Hermes is seeking to enter Nigeria through an acquisition, the CEO of EFG Hermes’ Frontier market Unit, Ali Khalpey, has said.

Khalpey who spoke in an interview, said the"...

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13 Jun 2017

UAE Based Company Monitors Influential Social Media Accounts For Account Hijacking That Can Result In Spreading Of Fake News 

Every day, hackers and impersonators become more and more skilled and devious in their techniques and methods, the latest one being the hijacking of verified accounts on Twitter, Facebook, and Instagram (the accounts marked with a blue tick mark, with generally a very large number of followers)."...

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12 Jun 2017

Egypt, World Bank, AfDB to start third tranche loan talks this week

Egypt will resume this week its negotiations with the World Bank and the African Development Bank (AfDB) to disburse the third tranches of $1.5 billion and $3 billion loans.

The two banks will send their delegations"...

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12 Jun 2017

Egypt is staying the course: Deutsche Bank

The near-term outlook for Egypt is positive. There has been a turnaround in Egypt’s external vulnerabilities, with strengthening foreign exchange (FX) reserves accumulation, stated Deutsche Bank (DB) Markets Research in a recent special report.

The"...

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11 Jun 2017

Deposits at Egypt banks fall for first time since September 2014

The total volume of deposits at banks operating in Egypt fell for the first time since September 2014, to record 2.714 trillion Egyptian pounds ($150.7 billion) at the end of February.

In January, deposits stood"...

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08 Jun 2017

Deutsche Bank projects Egypt inflation down to 20% by end of 2017

Deutsche Bank projected on Monday that Egypt’s inflation will decline to approximately 20% by the end of 2017 – a forecast is less optimistic than that of the International Monetary Fund – and therefore the bank do not see the the Central Bank of Egypt cutting rates in"...

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07 Jun 2017

Deutsche Bank adopts positive view of Egyptian economy

Deutsche Bank has said in a report that its outlook of the Egyptian economy remains positive in the short term, supported by growth in foreign exchange reserves, and capital flows as well as the state's improving current account position.

Deutsche"...

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06 Jun 2017

Some Egyptian banks halt dealings with Qatari banks after rupture

Some Egyptian banks halted dealings with Qatari banks on Monday, four Cairo-based bankers said, responding to Cairo’s announcement that it had cut ties with Qatar, accusing it of supporting terrorism.

Egypt’s action, announced in the early hours of Monday, was coordinated"...

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06 Jun 2017

World Bank projects Egypt’s economy to grow at fastest regional pace by 2018

World Bank projected Egypt’s economy to grow at the fastest pace in the region, bolstered by a sharp recovery in investments, according to a recent report issued by the bank.

The World Bank’s latest"...

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06 Jun 2017

Mavenir Launches Multi-ID, a Cloud Communications Platform for Innovation in Voice, Video and Messaging

(ME NewsWire)-- Mavenir, the leader in accelerating and redefining network transformation for Communication Service Providers (CSPs), announces the live U.S. commercial deployment in a Tier-1 operator and market launch of its unique and game-changing"...

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