Bank News
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Egypt reserves reach record high of over USD 36 billion
The increase is equal to the reserves in 2010 and this figure is 4.7 billion dollars higher compared to the previous month.
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Egypt investment bank gets brokerage licence
EFG-Hermes has been licensed to operate a stockbroker unit in Kenya with an eye on an investment bank permit.
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Egypt receives final $1.25 bln in first tranche of IMF loan
According to an informed source at the CBE, the bank received the installment on Tuesday.
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Egypt’s economy shows signs of vigour: BNP Paribas
Inflation isn’t the only reason behind the soaring inflation,the increase in the prices of semi-finished goods and commodities is also to blame.
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Egypt’s foreign reserves continue to rise registering $31.3 bln in June
Egypt's foreign reserves continued to climb registering $31.305 billion at the end of June and edging closer to pre-2011 levels of $36 billion.
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Are Egypt’s IMF-imposed reforms working for people?
With the increasing strain on the people, more are wondering whether IMF straitjacket is too restrictive for Egypt’s ordinary citizens.
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Egypt central bank removes foreign currency transfer limit
The central bank statement did not comment on the status of the $50,000 deposit cap for some importers.
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Egypt's economy trapped in vicious cycle of IMF debts
Egypt expecting a new rise of prices due to the IMF loan requirements, while the country has not yet recovered from previous economic decisions.
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Banks offering e-services have best retail banking
CIB) topped the Business News index for best retail bank for the 2nd year in a row followed by NBE that has the most widespread ATMs.
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Raising interest rates shakes markets, disturbs business community
Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn.
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Egypt’s Central Bank raises interest rate by 2 pct
The statement added that the credit rate was also raised by 200 points to 17.25.
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Credit Agricole not considering leaving Egyptian market
We have launched our activities in the Egyptian market 10 years ago and seek to continue and expand it, says Drion.
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Egypt central bank to cancel $100,000 individual bank transfer limit
"We have no need for foreign currency limits" Egypt's central bank governor Tarek Amer said.
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We are direct providers of Fresh Cut BG, SBLC and MTN
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Egypt's oldest bank sets up base in Chinese port city
Banque Misr as officially opened its Guangzhou office in Guangdong province to help promote trade and financial activities between the two countries.
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Egypt's CIB completes $40 mln sale of investment banking unit
CI Capital's market value totalled about 950 million pounds and that it had completed the transfer of 74.75 percent of the shares, retaining 25%.
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Egypt, World Bank launch $500 million Upper Egypt development programme
The programme will focus on the governorates of Qena and Sohag, which are among the poorest in the country.
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World bank disburses another $1 billion loan to Egypt
World Bank issued the first $1 billion tranche of the loan in 2015 ut of its $3 billion loan programme with the country.
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