Finance News
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Egypt's C.Bank sells $551 million in exceptional FX auction
The auction is to cover imports of strategic goods as Egypt has been suffering from a foreign-currency crunch due to political turmoil.
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Billionaire's Investment Banking Foray Bets on Egypt Revival
Sawiris said he will complete the purchase of CI Capital Holding this month to create Egypt’s second-biggest investment bank.
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Egypt cash reserves notch $16.53billion
Egypt’s reserve of foreign exchange increased from $33.16 billion at the end of October 2015 to the end of the $533.16 billion last February.
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Egypt's largest bank receives $700 mln loan from China
The NBE will repay the loan over eight years, including a three-year grace period.
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Egypt to take part in Berlin’s stock exchange
The delegation will include officials from the Tourism Ministry, Tourism Promotion Authority and Egypt’s Ambassador to Germany.
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Revenues of Public Business Sector Hit Egp 2.1 Bln in 7 Months
About 260 million pounds were channeled to the public treasury in 2015 from only three holding companies, compared to 50 million in 2014.
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Egypt’s parliament approves defence loan agreement with France
MPs said the loan was necessary to help Egypt's armed forces fight terrorism in North Sinai.
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Egypt's Pioneers to complete Rooya listing in H2 2016
Rooya has a real estate portfolio of about 9 million square metres, with 6 million of that currently under development.
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Egypt's CIB appoints former CBE governor Ramez as managing director
Ramez will serve as Vice-Chairman and Managing Director of Egypt's largest listed company.
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Profit repatriation impedes acquisition deals in local market
CBE failed to resolve repatriation problems, which hindered flow of foreign direct investment, say Experts.
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EGP4.7b collected in national fund-raising for economy
The amounts collected by the “Long Live Egypt” fund include EGP1 billion provided by the military.
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Egypt invited to attend G20 meeting for first time
The first G20 leaders' summit was first held in 2008 following the world financial crisis.
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Egypt pound reaches record lows amid a dollar shortage
The central bank had directed local banks to prioritize giving dollars to pharmaceutical companies to import medicine and supplies.
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Egypt's central bank widens exceptions on import restrictions
The Central Bank of Egypt excluded manufacturing inputs from the requirement on importers to provide 100% cash deposits on their letters of credit.
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Reinsurance Market in China (Life and Non-life) by Premium Category Analysis and Forecast 2013 – 2018
China reinsurance market was valued at around USD 35.0 billion in 2013 and approximately USD 198 billion by 2020 with rate at a CAGR of slightly above
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Egypt to float United Bank of Egypt
The United Bank was formed out of the merger of three failing banks which the central bank acquired in 2006.
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Mubasher unveils top 100 listed firms in Egypt
Mubasher Financial Services applied scientific rigor to the ranking to produce a precise and comprehensive look at every company assessed.
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Investment climate in Egypt is worst in Arab world
Egypt’s administration is complacent about the tourism crisis, says Sawiris.
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AfDB allocates $1.5bn to build Egypt’s administrative capital
The comment came during the inauguration of Africa 2016: Business for Africa, Egypt and the world forum in Sharm El-Sheikh.
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Egypt's Central Bank signs $500mn trade facility agreement with Afreximbank
The new agreement is part of a $3.5 billion financing programme approved by Afreximbank in December.