Finance News
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CIB accepts billionaire Sawiris's bid to buy CI Capital
Sawiris is one of the country’s most prominent businessmen and the founder of the Free Egyptians political party.
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How Egypt plans to boost its stock exchange
In an effort to shore up its economy, Egypt plans to list shares of some government-owned banks and companies on its ailing stock exchange.
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EBRD and Bank Audi strengthen small business in Egypt
EBRD continues to support SMEs in Egypt, providing a US$ 30 million to Bank Audi SAE Egypt for on-lending to SMEs.
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EU provides support to fostering enterprise development, trade
This EU-funded programme supports the Ministry of Trade and Industry and its affiliates with the targets of the Sustainable Development Strategy 2030.
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Egypt sees World Bank funds arriving soon, eyes Saudi aid
The first $1 billion tranche of a three-year, $3 billion loan from the World Bank to support Egypt’s budget.
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Egypt central bank meets exchange bureaus
Egypt, which relies heavily on imports, has been facing a shortage of foreign currency since a 2011.
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Saudi Arabia, China financial support is credit positive for Egypt
Egypt has also received $1 billion loan from the World Bank as part of a $3 billion package over 3 years.
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Egypt Year in Review 2015
The year 2015 brought welcome stabilisation and recovery to Egypt, after a difficult post-revolution period marked by upheaval and sluggish growth.
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Egypt central bank keeps main interest rates unchanged
The government projects growth of around 5.5 percent this fiscal year, compared with an estimated 4.2 percent in 2014/15
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Egypt Central Bank Eases Restrictions on Dollar Deposits
The bank raised the monthly limit to $250,000 from $50,000 for importers of food, machinery, spare parts, capital goods and medicine.
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NCR aims to boost Egypt business to EGP 1bn over next 3 years
Company accounts for about 90% of ATMs in Egypt, says Africa Managing Director.
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China's Xi promises 'billions' in investment during Egypt visit
The money comes in the form of aid and chinese investments in Egypt.
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Egypt considers floating two state banks
Amer said the offerings would not include state bank giants National Bank of Egypt and Banque Misr.
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Egypt's new regulations for SMEs are positive for economy, negative for banks
The CBE said earlier it would require lenders to apportion 20 percent of their total loaning portfolio for SMEs, with interest rates below 5%.
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Egypt’s stock market hits 3-year low
The stock market lost 6 billion dollars last week.
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Egypt to receive $200mn grant from Saudi Arabia for SMEs
The grant will be disbursed to investors as loans through the Central Bank's recently implemented regulations.
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Egypt central bank sees import rules saving $20B in 2016
The governor said that the push to coordinate economic policy with the government was an indication to Egypt’s determination to enact reforms.
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BE Decision to Support SMEs Should Turn Egypt Into Productive Economy
CBE decision will help reduce credit investments given to VIP clients from 20 to 15% It will also reduce investments in monetary fund from 5 to 2.5%.
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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.