Bank News
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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.
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IMF delegation to arrive in Egypt next week
Egypt agreed the three-year IMF loan programme in November 2016 that is tied to sweeping reforms such as spending cuts and tax hikes.
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Reform program improves Egypt's economy, IMF expects higher growth
The IMF report said that Egypt's expected higher growth rates are "aided by an increase in gas production."
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Egypt's net foreign reserves rise to $42.611 bln
In February, Egypt raised $4 billion in a dollar-denominated Eurobond sale to help plug its financing deficit and boost dollar holdings.
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UNB-E eyes 5% market share in Egypt within 8 years
Al Nahyan explained that the bank aims to expand its branch network to 48 branches, along with increasing ATMs to 125 machines by the end of 2018.
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Egypt’s central bank expected to cut rates for second time
Nine out of 11 economists polled by Reuters said the bank on Thursday will cut the deposit and lending rates.
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Egypt picks four banks for Eurobond issuance set for April
Egypt previously raised $4 billion in a three-times oversubscribed bond issuance in February.
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Banque Misr achieves highest profits in its history
The bank’s retail portfolio reached LE 18.1 billion in June 2017 versus LE 14.5 billion in June 2016 with 24.8 percent growth rate.
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Akinwumi Adesina, President, African Development Bank (AfDB): Interview
Governments need to work closely with the private sector to close African infrastructure gaps.
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Egypt's EFG Hermes weighs hiring more bankers for Saudi deals
EFG Hermes is considering adding 20 percent more staff as one of the region's biggest investment banks expects an improved deals outlook in KSA.
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Egypt net foreign reserves rise to $42.524 bln after Eurobond sale
Reserves had dropped to about $19 billion before Egypt signed the three-year IMF deal, with Egypt floating the currency and lifting capital controls.