Total credit facilities by banks increased by EGP 123.2bn in nine months
Industry alone received 25.2% of total credit granted by banks to non-governmental economic activities, states CBE
Hossam Mounir
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Egypt hosts 57th ACI World Congress, 43rd ICA Conference
Choosing Egypt to be host is an international testimony to success of implemented financial, banking reforms, says Khattab
Does Egypt need more external borrowing?
Egypt’s lack of control over foreign debt could cause negative pressure on its credit rating in future, says Standard & Poor’s
IDBE signs cooperation protocol with MFF to increase its share in CBE’s initiative to EGP 1bn
Bank funds 5,220 clients with EGP 529m within initiative, says Fahmy
Al Baraka Banking Group puts Egyptian market at top of its priorities: CEO
Bank celebrates opening of its new headquarters in 5th Settlement
New Administrative Capital Company, SMEDA sign MoU in field of small projects to establish permanent branch, exhibition of SMEDA in new capital
Niven Gamea, CEO of the Micro, Small, and Medium Enterprises Development Agency (SMEDA), and Yasser Al Baroudi, head of the Administrative Services Sector in the New Administrative Capital Company, signed a memorandum of understanding (MoU) to establish a branch of the SMEDA in the New Administrative Capital to provide all the financial and non-financial services …
SMEDA funds selling points vehicles project with EGP 160m
Project provides 2,000 opportunity for youth in cooperation with Ministry of Supply, National Bank of Egypt
Limited-income mortgage finance portfolio at NBE reaches EGP 3.6bn
We are studying 10,409 files worth EGP 1.1bn, with plans to boost portfolio to EGP 3.7bn, says Aboul Fotouh
United Bank intends to settle EGP 500m worth of bad debts within CBE initiative
We do a comprehensive inventory of our defaulting customers, study reasons for their failure, then settle with those who meet terms, conditions of initiative, says El Kady
Banks invested EGP 650bn in T-bills until end of March 2018: CBE
Government banks invested EGP 333bn, private banks invested EGP 279.8n, foreign banks invested EGP 26.1bn, and specialised banks invested EGP 11.1bn
Establishment of Egyptian association targeting development of informal economy begins
Our goal is to contribute to integration of informal economy into whole state’s system: Nagaty
Egypt wins presidency of ICSB
Osman council president, Abu Elazm member for Africa, Europe
IDWBE injects EGP 675m to deliver gas to 375,000 residential units
Bank signs three contracts with Cairo Gas, Sinai Gas, PetroTrade
Governmental banks start receiving defaulting clients’ requests to settle debts in implementation of CBE initiative
Initiative benefits companies whose debts are less than EGP 10m, individuals without credit card debts
8.65% decrease in manufacturing, extractive industries index during April 2018: CAPMAS
The manufacturing and extractive industries index, excluding crude oil and petroleum products, scored 130.46 during April 2018, compared to 142.82 during March 2018, marking a decrease of 8.65%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). The index for the manufacture of basic pharmaceutical products and pharmaceutical preparations reached 150.03 in April …
High return on debt instruments maintains attractiveness of investment in Egyptian market: Beltone
Decision to stabilise interest rate was expected, took into account expected inflationary pressures resulting from recent increase in prices of water, electricity, fuel
Government intends to borrow EGP 475.5bn from domestic market in Q1 2018/2019
Finance Ministry floated debt instruments worth EGP 1.614tn in FY 2017/2018
CBE launches initiative to settle debts of 3,500 companies, 337,000 individuals
Initiative to benefit NBE, Banque Misr, Banque du Caire, Export Development Bank, EALB, ABE, UBE, IDWBE clients
SMEDA signs contracts to convert 1,000 cars to operate using natural gas, funding 10 car oil retail outlets
Agency has already converted 27,500 cars, opened 41 outlets to sell oil with EGP 150m in funding, providing EPG 28,000 jobs, says Gamea
HC Securities expects deceleration of annual inflation, MPC to keep interest rates unchanged
Recent decision to hike fuel costs was by market, despite not announcing rates, timing, says Saada
Deposits up EGP 52bn, loans EGP 27bn end-February: CBE
Banks’ investments in stocks, bonds down EGP 37bn
Banque du Caire signs cooperation protocol with Minya to promote, market assets
Joint working mechanism being discussed between Banque du Caire, Minya to provide various banking services to governorate’s residents, says Fayed
Egypt’s local public debt hits EGP 3.414tn end-2017: CBE
Egypt’s local public debt rose to EGP 3.414tn at the end of December 2017, compared to EGP 2.16tn in June 2017, of which 84.7% was due from the government, 8.2% from public economic bodies, and 7.1% from the National Investment Bank (NIB), according to the Central Bank of Egypt (CBE). The CBE said, in its …
UAB to highlight green banking in Hurghada forum
Forum will be held between 26, 28 July in cooperation with CBE, FEB
27.3% increase in number of foreign governmental workers: CAPMAS
The total number of foreign employees in the governmental and public business sectors reached 1,132 foreigners in 2017, including 1,020 males (90.1%) and 112 females (9.9%). This is up from 889 foreigners in 2016, marking an increase of 27.3%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). In its annual bulletin for …
Egyptian banks’ aggregate financial position breaks $5tn end-March 2018: CBE
EGP 24.376bn total profits in market, top five banks account for 64.875%
IDWBE SMEs portfolio registers EGP 2.6bn
We managed to finance 70,000 clients, link gas to 92,000 residential units in three governorates, says chairperson
Amer briefs new PM on forex reserves updates, monetary, financial policy legislation
CBE governor discusses with communications minister enhancing cooperation to transform into digital economy, achieve financial inclusion
105.5% increase in Egypt’s exports to US in 2017: CAPMAS
The value of Egyptian exports to United States reached EGP 23.6bn in 2017, accounting for 5.1% of Egypt’s exports to the world, this is up from EGP 11.5bn in 2016, marking an increase of 105.5%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The CAPMAS announced on Wednesday the Economic Relations between …
Currency devaluation, reform open new chapters for trade: HSBC
Pound floatation in 2017 contributed to bridging trade deficit, as exports improved