Bank News
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Egypt becoming much more business friendly
Egypt’s economic situation has continued to improve during 2018, our overall views remain positive.
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HSBC named lead bank for Egypt AMOC listing
The government is selling minority stakes in public companies on the stock exchange.
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Egypt to get $1 billion for basic goods from Islamic Bank
The International Islamic Trade Finance Corporation (ITFC) will provide Egypt with $1 billion to support the provision of basic goods.
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US decides to release suspended military aid to Egypt
The State Department says the United States has decided to release $195 million in military aid to Egypt after withholding the assistance last year.
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Egypt to receive $2bn from International Finance Corporation
The IFC finance will focus on the renewable energy field through 2019.
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Pharos highlights key points of Egypt’s economy on IMF’s report
According to pharos, the report expected Egypt’s economy to mark a progress during fiscal year 2018/2019.
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IMF gives Egypt strong marks in third programme review
The Fund maintained its previous 5.5%projection for Egypt's GDP growth in the 2018-2019, supported by a recovery in tourism and gas production.
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Egypt wants $500 million from World Bank
Egypt held discussions with the World Bank for an additional $500m loan for the country’s social housing projects targeting low-income households
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Egypt's inflation rate spikes in June amid price hikes
Egypt's official statistics agency says annual inflation increased to 13.8 percent in June after a new round of austerity measures.
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Egypt considers entering sukuk market
The Sharia-compliant issuance, either in dollar or euro-denominated sukuk probably will happen in fiscal 2018-19.
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Cooperation Between Govt, CBE to Maintain Interests of Egyptian Economy
The debts of government bodies have been discussed during the meeting along with the mechanisms of paying off sums to the banks.
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Egypt's economy has 'strong' precautionary reserves against external shocks
The CBE announced an increase in the net foreign currency reserves by $1.418 billion at the end of April to hit $44.029 billion for the first time.
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CBE: mounting foreign debt at $82.9bn
Egypt's foreign debts reached around $82.9 billion, for the period ending December 2017, rising by 4.9 percent compared to six months earlier.
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Egypt's Central Bank Says Mounting Foreign Debt at $82.9bn
EGYPT'S foreign debts reached around $82.9 billion, for the period ending December 2017, rising by 4.9 percent compared to six months earlier.
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Egypt's Banque Misr hires Citi for $500 million loan
Misr's debt facility follows a $600 million loan being syndicated among banks for National Bank of Egypt, the country's largest lender.
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Central Bank of Egypt expected to keep interest rates unchanged
The Central Bank's Monetary Policy Committee is set to meet on Thursday to decide on interest rates.