BANKING

02 Aug 2017

Egypt foreign reserves hit $36bn, highest since 2010

Egypt's foreign reserves reached $36.036 billion at the end of July, returning to pre-2011 levels for the first time since the 25th January uprising, the Central Bank of Egypt (CBE) announced on Tuesday.

Foreign net reserves jumped from $31.305 billion at the end of June"...

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02 Aug 2017

USD inflows to Egypt amounted to $7.7bn in July

The governor of the Central Bank of Egypt (CBE) said that Egypt has obtained $8.95 billion during July 2017.

Tarek Amer told Mubasher that US dollars inflows amounted to $7.7 billion, alongside the International"...

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31 Jul 2017

Egypt's currency float boosts foreign investment: stock exchange chairman

Foreign investors have bought a net 11 billion Egyptian pounds ($615.90 million) worth of shares since the country floated its currency last November, the stock exchange's chairman Mohamed Omran said"...

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31 Jul 2017

Egypt businesses battle inflation after currency devaluation

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. https://www.ft.com/content/f68ddbcc-7146-11e7-aca6-c6bd07df1a3c Egyptian entrepreneurs, like Ibrahim Soudan, were forced to scour the black market for dollars a year ago to pay for imports as they battled......

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30 Jul 2017

Egypt: A Green Oasis in the Land of the Pharaohs

Cairo's Al-Azhar Park is still going strong and changing its neighborhood for the better 12 years after it was first opened. Built on a rubbish heap, the park gives the crowded city some much-needed room to breath.

Hugging"...

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30 Jul 2017

Moody’s Receives EU Regulatory Approval for Acquisition of Bureau van Dijk 

(ME NewsWire)-- Moody’s Corporation (NYSE:MCO) announced today that it has received clearance under the EU Merger Regulation from the European Commission to acquire Bureau van Dijk, a global provider of business intelligence and company information."...

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26 Jul 2017

Egypt central bank’s exit from United Bank delayed on hopes for bigger return

Egyptian central bank’s plans to exit from the United Bank, in which it holds a 99 percent stake, could be delayed to be next year, sources told Amwal Al Ghad on Tuesday.

Senior sources have said the central"...

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26 Jul 2017

Visa Expands Global Transaction Processing with Facilities in Singapore and United Kingdom 

(ME NewsWire)-- Visa (NYSE:V), a global payments technology company, today announced expanded transaction processing capabilities in two state-of-the-art data centers in Singapore and the United Kingdom. The new global processing hubs will increase"...

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25 Jul 2017

National Bank of Egypt NPLs hit 8 bln pounds

Egypt’s biggest lender, the state-owned National Bank of Egypt says its non-performing loans (NPLs) had risen to 8 billion Egyptian pounds ($448 million) during the 2017/2018 financial year.

The rise was"...

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24 Jul 2017

National Bank of Kuwait H1 profits rise 78.4% in Egypt

The National Bank of Kuwait (NBK), the Gulf state’s largest commercial lender, reported Sunday a 78.4 percent rise in profits in Egypt during the first half of 2017.

The bank made profits of 727 million"...

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