Finance News
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New Egypt bank rules to boost business lending and growth
Central Bank cut the maximum amount that banks are allowed to lend to a single client to 15 percent of their Tier One capital, down from 20 percent.
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Decline in Egyptian business activity slows in in December
In a survey, the Emirates NBD Egypt (PMI) for the non-oil private sector rose to 48.2 points in December from 45 points in November.
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World Bank cuts Egypt's predicted 2016 growth rate
Egypt's economic growth is forecasted to slow to 3.8 percent in fiscal year 2015/16 from 4.2 percent expected in 2014/15.
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Saudi Arabia to support Egypt with $3B of loans
The kingdom will loan $1.5 billion to develop the Sinai Peninsula and $1.2 billion to finance Egypt’s oil purchases.
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Egypt’s forex reserves hit $16.455bn in December
Egypt has found a lifeline in tens of billions of dollar loans and deposits from Gulf countries.
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Credit Agricole, BNP Paribas to finance Egypt's oil refinery expansion
The loan will be guaranteed by the Italian central bank and the Italian export development authority,
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Egypt’s bourse registers 1 700 new companies in 2015
Such an increase was led by foreign companies that increased by 47 percent to 1,198 companies.
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Egypt to receive $500 million from African bank 'within hours,' WB loan in January
A value added tax is not a condition for the World Bank loan, says Egypt's minister of international cooperation.
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Stock market performance in 2015
15 new companies listed in the EGX in 2015.
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Egypt's BoP deficit hit $3.7 billion in Jul-Sept 2015
The trade deficit was unchanged from the same period of the previous year, standing at $10 billion during the first quarter of the 2015/16.
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Another Fundraising Door Shutting for Egypt as Bond Yields Soar
Egypt is running out of ways to get a hold of dollars.
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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.
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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.”
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Egypt signs $500m agreement with African Export-Import Bank
The deal gives Egypt free trade access to seven new African nations.
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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.
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Egypt economy year in review: far from smooth sailing despite new canal
The search for dollars was the theme that dominated the entire year.
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Egypt economy year in review: far from smooth sailing despite new canal
The search for dollars was the theme that dominated the entire year.
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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
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Fitch affirms Egypt’s ‘B’ rating, Dimian responds that economy is ‘resilient’
Dimian said the continuation of applying financial and economic reforms, which was initiated by the government last year, is necessary.
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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.