BANKING

31 Mar 2014

Faisal Islamic Bank to participate in CBE housing initiative


Faisal Islamic Bank will participate in the Central Bank of Egypt’s (CBE) mortgage finance initiative, the bank’s chairman, Mohammed bin Faisal bin Abdulaziz Al Saud, said Saturday.


"...

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30 Mar 2014

Banque du Caire eyeing ‘socially responsible’ projects:

Banuque du Caire is considering supporting projects that have social responsibility, Chairman and CEO of the bank Mounir El-Zahed told the Daily News Egypt on Saturday.


On 24 March, Banuqe du Caire announced the signing of contracts offering"......

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30 Mar 2014

Egypt’s EFG-Hermes sinks to 2013 loss on one-offcCharges

Egyptian bank EFG-Hermes plunged to a net loss last year, hit by one-off charges including a writedown in the value of certain investments.


The bank, active both in investment and commercial banking, said on Thursday it made a net loss"......

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30 Mar 2014

Egypt’s economy to strengthen from 2014 to 2016: HSBC

The Egyptian economy is expected to pick up from 2014 to 2016 influenced by real export growth, according to HSBC’s latest Global Connections Trade Forecast Report.


“Real export growth is expected to gradually recover in 2014"......

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29 Mar 2014

EFG-Hermes plunges to $48m loss

Egyptian bank EFG-Hermes plunged to a net loss last year, hit by one-off charges including a writedown in the value of certain investments.


The bank, active both in investment and commercial banking, said yesterday it made a net loss of 335 million"......

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26 Mar 2014

World Bank Group Executive Directors Reiterate Support to Egypt

A delegation from the World Bank Board of Executive Directors concluded a four-day visit to Egypt by reiterating continued commitment to supporting the country’s development priorities.


The"...

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26 Mar 2014

Emirates NBD appoints new Egypt MD

Emirates NBD has appointed Giel-Jan Van Der Tol as the new managing director for its Egypt operations and a member of the board of directors. Shayne Nelson, group CEO, Emirates NBD, said: “We are pleased to announce the appointment of Giel-Jan Van Der Tol as the new managing director of Emirates NBD Egypt. Giel-Jan‘s excellent leadership skills...

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25 Mar 2014

22 Mar 2014

Egypt central bank governor says foreign reserves to continue to rise

Egypt's Central Bank governor Hisham Ramez said on Wednesday he expects the country's foreign currency reserves to continue growing despite continued political and economic turmoil.


The"...

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22 Mar 2014

Egypt Central Bank denies drop in foreign reserves

Egypt's Central Bank has denied a report carried by the MENA news agency that the foreign exchange reserves of the country had dropped to US$24.9 billion.

The official agency's report, published on May 19, cited current Minister of Finance Samir Radwan.

But Hisham Ramez,"...

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