Finance News
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CBE obliges banks to not deal with more than 7 exchange bureaus
One major bank in the market alone deals with 60% of all exchange bureaus.
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US dollar exchange rate stable, hovering around LE18
At the Commercial International Bank (CIB) and Baraka Bank, the purchasing rate was LE18.05, while the selling rate was LE18.15.
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If the Bond Market Could Decide, Egypt Would Be Set for Upgrade
The IMF loan gave Egypt a promotion in the bond market that was out of question before.
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Egypt's foreign reserves rise to $28.641 bln at end-April
Egypt's foreign reserves have been climbing since it clinched a $12 billion three-year loan from the International Monetary Fund in November.
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EGX chairperson hosts meetings with business and financing representatives
Omran held talks with representatives from Infor and CitiBank International amid reforms taken by the government to improve the investment climate.
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Global Smart Building Market to Grow $36.0 Bn by 2020
Global Smart Building Market Set for Rapid Growth, To Reach Around USD 36.0 Billion by 2020
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Egypt keeps customs exchange rate at 16.5 pounds/dlr in May
This price is 10 percent below the market price of the dollar for May.
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IMF seen signaling preference for higher Egypt borrowing costs
Egyptian officials and economists point to a slowing pace of price increases as a sign that inflation may be peaking.
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7 Egyptians among the Richest Arabs
Nassef and Naguib Sawiris are among the top 10. Prince Al-Walid bin Talal on top as the richest Arab.
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Egypt's oldest bank sets up base in Chinese port city
Banque Misr as officially opened its Guangzhou office in Guangdong province to help promote trade and financial activities between the two countries.
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China Reinsurance Market to witness increasing growth $198 Bn in 2018
China Reinsurance Market is Expected to Reach Over USD 198 Billion in 2018
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Europe Residential Security Market demand will increase $1,867.5 Mn in 2020
Europe Residential Security Market is Expected to Reach USD 1,867.5 Million in 2020
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Moody's sees Egypt's economy growing but reforms slipping
Moody's forecasts the Arab world's most populous country will reduce its fiscal deficit to 11 percent of GDP for the fiscal year 2017.
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Egypt's investment minister promises legal reforms to support investors
Sahar Nasr promised at a meeting by the American Chamber of Commerce in Egypt legal reforms that would support investors and minimise obstacles.
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Only one kind of trader doing well as Egypt pound weakens
There are about 92 million Egyptians. Hardly any of them care about the price of stocks. Almost all of them care about the price of food.
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Egypt's CIB completes $40 mln sale of investment banking unit
CI Capital's market value totalled about 950 million pounds and that it had completed the transfer of 74.75 percent of the shares, retaining 25%.
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Egypt, World Bank launch $500 million Upper Egypt development programme
The programme will focus on the governorates of Qena and Sohag, which are among the poorest in the country.
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World bank disburses another $1 billion loan to Egypt
World Bank issued the first $1 billion tranche of the loan in 2015 ut of its $3 billion loan programme with the country.
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Foreign holdings of Egypt T-Bills almost triple since January
Overseas holdings of T-bills reached 60.8 billion Egyptian pounds ($3.3 billion) as of March 14.That compares with 22 billion pounds at the end of Jan
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Egypt targets less than 10% deficit in draft budget 2017/18
The decline cites tax revenues from both income and real estate in addition to planned investments as sources of funding.