Finance News
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National Bank of Egypt raises rates on dollar deposit certificates
The interest on three year certificates is now 4.25 percent, five years 5.25 and 7 years is now 5.75 percent.
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Morocco's Attijariwafa Bank plans bid for Barclays' Egypt business
Attijariwafa, which already has a presence in 24 countries, including 14 in Africa, is interested in bidding for the Egypt business.
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Egypt denies seeking IMF loan
The Central Bank has already taken several measures over the past few months to fight dollar shortage.
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Egypt's winners of Women in Business award
CIB, P&G and Zeinab Hashem are among the winners. The award is presented by the American Chambers of commerce MENA council.
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Sluggish recovery expected in regional market
Kitchen noted that there is a liquidity death in the region's markets, leading to fluctuations in the stock markets.
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CBE removes caps on foreign currency deposits
The CBE noted that the measures are meant to facilitate individuals’ transactions with banks operating in Egypt.
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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.