Latest in Highlight
Ministry finances numerous training centres and programmes with EGP 30m to EGP 40m.
CBE only covers requests for strategic goods despite lack of alternative local technological products, says importer
The CBE launched this auction using $700m, receiving offers worth $928.5m to cover it, $728.5m of which were approved.
The bank has 420 units under financing in 10th of Ramadan City provided by MFF, says Taha
Ministry of Tourism to support tourism investment fund with EGP 100m, of which EGP 25m sent to Ayadi company established by Ministry of Planning
Initiative allows banks to allocate an amount for new loans granted to clients who do not pay debts on regular basis with 5% of fund’s value
CBE will allow local banks and foreign institutions to subscribe to the dollar bills with a minimum of $100,000 and its multiples
CBE has pumped $4.8bn in liquidity since the start of 2015
Decreasing the pound’s value against the dollar, limiting foreign currency deposits in the banks among CBE most daring decisions in past years
The new canal will be established to increase the Suez Canal’s capacity to 97 passing ships per day, up from the current rate of 49 per day.
Financial Policy Committee has fears over growth rates with the deflation of global economy
$2bn for Egyptian maize imports in 2014, says Ramez
Bank deposits increased 17%-20% over last three years, loans increased by 10%
There has been a crisis in upholding foreign traders’ money in the EGX and not transferring it, even two years after settling the purchase operations of shares, bonds, and treasury bills of foreigners.
The CBE granted the banks $98.6 in an auction launched Sunday
Government works to attract investments of between $6bn-$8bn by the end of 2015 to push reserves growth
The figures compare to a surplus of $2.2bn during the same period of FY 2013/2014
Banks activate automated “Model 4” to determine real importing demands
The market expects MPC to fix both loan and deposit rates
Market witnessed competition in attracting foreign currency savings, according analysts
The private sector acquired 80.8% out of the total loan balances
March’s figures compare to June 2014, where debt amounted to $46.1bn
Losses of tourist activity nears $10bn over the past four years, using 2010 a standard to measure tourism income in Egypt
Al Ahli Bank of Kuwait acquires 98.5% of Piraeus Bank – Egypt shares
84% of total Islamic AUM held in eight countries, Saudi Arabia and Malaysia account for 69% of total AUM, says a Thomson Reuters report
Stock exchange tax must be stopped to deepen the market, executive regulation of investment law to be ready within a month, says Salman
By Oxford Business Group A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading. The controlled devaluation of the currency earlier this year from EGP 7.14 to EGP 7.62 to the dollar has …
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
The proportion of Egyptians dealing with banks is 10%, says EBI executive director
The slowdown rate in Piraeus Bank-Egypt’s credit portfolio has declined, according to Retail Director Iman El-Essawy. She added that a plan, strategy, and new programme for credit have been prepared, which were approved by the mother company in Greece, and new loans were also offered to citizens. El-Essawy said that the growth of the retail …