Bank News
-
Egypt's central bank injected $8.3 billion for imports and investors
Earlier this month the CBE said it changed the way it allocated dollars at its regular foreign exchange auctions, which it holds three times a week.
-
Egypt Raises Rates as Central Bank Sets Targets With Government
CBE has agreed with the government to collaborate on designing policies that “will contribute positively to economic growth and job creation.”
-
Egypt signs $500m agreement with African Export-Import Bank
The deal gives Egypt free trade access to seven new African nations.
-
Egypt's Central Bank likely to raise interest rates Thursday
Three out of five economists surveyed by Ahram Online expect the Central Bank of Egypt to raise benchmark rates to combat inflation.
-
Egypt's Central Bank backs local products, tightens importing measures
The move, which will come into effect in January, aims to limit imports of products with domestic alternatives in order to shore up limited resources
-
HSBC Egypt plans capital increase in few days
HSBC Holdings PLC has approved to give a support for its Egyptian unit's capital through retained earnings, CEO and deputy chairman of HSBC Egypt.
-
Egypt's central bank to meet govt, reconvene on Dec. 24
The meeting is scheduled to discuss efforts to control inflation.
-
Egypt's Banque Misr closes $250 mln 3-yr loan
The transaction is the first time the bank has sought to borrow from international banks since the North African country was hit by political unrest.
-
Barclays Africa's Talks With Parent on Egypt, Zimbabwe Fail
Talks to buy Egyptian and Zimbabwean operations from the parent ended after they couldn’t agree on price.
-
Egypt Stock Market Jumps Up After Government Pays Dues to Foreign Investors
CBE said in a statement on its website that it has cleared "all the pending backlog" owed to foreign investors "to date".
-
Egypt Signals Currency Policy Shift With Payment of Foreign Dues
The move by Amer in the first week of his tenure also signals he’s readying for a more liberal currency policy.
-
Afreximbank proposes $1bn facility for Egypt’s foreign currency liquidity
Afreximbank would also avail its investment guarantee and country risk guarantee programmes to the Egyptian government.
-
Egypt's central bank saviour faces tricky balancing act
Egypt's business community will breathe easier when Tarek Amer takes charge at CBE on Friday with hopes high he will revamp a monetary policy.
-
Egypt's CIB to issue one bonus share for each four held
The bank will increase its capital from its reserves and in return will issue 229.4 million shares in the bonus issue at a value of LE10 per share.
-
Egypt govt working with CBE to ease currency pressures
Egypt has been suffering from an acute dollar shortage that has left imports piling up at ports with companies unable to open letters of credit.
-
Egypt's Industrial Bank offers new 3-year certificate at 12.75 pct
The move comes after five lead Egyptian banks last week raised interest rates to above 12 percent.
-
5 banks represent UAE in Egyptian market
5 UAE banks currently operate in the Egyptian market; ENBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank and Mashreq.
-
Egypt's CBE Governor Ramez appoints caretaker for rest of term
Gamal negm will serve as a caretaker as Ramez will be on leave until the end of his term in 26 November then Tarek Amer takes over.
-
Egypt allows pound to appreciate
Egypt’s attempt to preempt a collapse in the currency isn’t convincing investors it can avoid an eventual devaluation.
-
Kuwait's Al Ahli completes purchase of Piraeus Bank Egypt
Al Ahli paid $150 million for the stake in the Greek lender's Egyptian unit.