Finance News
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Ashburton Top Stock Pick Is Egypt’s CIB, Pares Morocco Holdings
Cairo’s benchmark EGX30 stock index has advanced more than 80 percent since an army takeover of Egypt in July 2013.
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Egypt begins marketing 10-year US dollar bond at 6.25% yield area
Egypt is rated B3 by Moody's, B- by Standard & Poor's and B by Fitch.
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Egypt's Beltone Capital to offer shares on stock exchange in Q4 2015
Egypt's Beltone Private Equity will offer shares of Beltone Capital, which it manages, worth 1 billion Egyptian pounds ($131.06 million) on the Egyptian stock exchange in the last quarter of this year, a partner said on Thursday.
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Telecom Egypt says will not buy treasury stocks
Telecom Egypt had recently changed CEO and chairman.
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Egypt's EFG-Hermes plans Saudi Islamic fund as market opens up
EFG-Hermes Saudi Arabia's assets under management had risen to 1 billion riyals from 680 million at end-2014.
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Mechanisation of public wages to stimulate economy: Visa Egypt director
Around 6.5 public employees will be offered this service.
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Egypt's external debt down to $39.58 bn in Q3 in FY2014/15: CBE
Egypt's gross domestic debt amounted to LE1.9 trillion ($252.3 billion) at the end of December 2014.
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Emaar Misr’s $353m IPO in Egypt to run June 16-25
The shares will be priced at 4.49 Egyptian pounds each, meaning the offer is expected to raise 2.69 billion pounds.
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Egypt picks banks for first international bond issue in 5 years
BNP Paribas, Citigroup, JP Morgan, Morgan Stanley and Natixis will arrange the investor meeetings for Egypt.
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IMF disappointed with Egypt’s postponement of capital gain tax: Bloomberg
When the tax was implemented last month, it was blamed for a simultaneous drop in stock turnover and value.
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Kuwait’s Burgan Bank to consider expanding in UAE, Saudi, Egypt
The bank did not expect to make any acquisitions this year, but said that it would at some later date as a number of foreign banks in the Middle East pulled out.
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Egypt's market gains $3 bn in one week, EGX30 jumps 8.3% as govt suspends capital gains tax
The Egyptian Cabinet put the 10 percent tax on capital gains on hold for two years, but will keep a 10 percent tax on stock dividends.
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Emaar plans to float 13 per cent of Egypt unit
If completed, the flotation will underline the link between Egypt and the UAE, with the latter providing large amounts of financial, energy and political support to the Egyptian government.
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Egypt Gas loses EGP 17.3m in Q1 2015
The company witnessed a workers’ strike in April.
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National Bank Egypt the fastest growing : Business News index
NBE has most customer satisfaction, 255 companies take part in the evaluation, Emirates NBD is third best bank.
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Global banking is HSBC’s priority in Egypt: Blanchet
HSBC launched in April its second International Growth Fund, worth EGP 300m, to support SMEs.
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ABG Egypt unit income surges 21pc
Total financing and investments portfolio grew by 4pc to reach $2.6bn by the end of March this year.
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Egypt targets 5% growth in FY2015/16: Minister
The state budget will only feature LE55 billion in government investments while the rest will be financed from various sources.
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Egypt's CIB bank Q1 net profit up 38 pct year-on-year
CIB had in 2014 posted a 36 percent rise in net profit for the full year.
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European Union and Ministry of Finance launch Twinning Project
The project aims to enhance the accounting and auditing profession in Egypt