Bank News
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Egypt inks deal with Euroclear Bank to upgrade public debt management
Under the signed deal, the government debt instruments will be linked with Euroclear's local currency to help reduce public debt.
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Egypt discussing possible new IMF cooperation
Egypt is discussing possible further assistance from the IMF to help it carry out structural reforms once its current three-year IMF programme ends.
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Egypt inflation lowest since 2013
Inflation rates slowed to almost 4.9% annual rate in August. Despite interest rate cuts, Egypt is becoming more attractive for investors.
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Egypt's business community awaits more interest rates' cuts to boost investment
The Central Bank of Egypt (CBE) cut interest rates by 1.5% on Thursday in a long-awaited step.
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Egypt's central bank cuts rates by 150 bps after inflation slows
The overnight lending rate was cut by 150 basis points to 15.25%, the bank said in a statement after a meeting of its monetary policy committee (MPC).
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DFSA signs an MoU with the Central Bank of Egypt
The collaboration includes, but is not limited to combatting financial crime and conducting consolidated supervision of common firms.
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US dollar exchange rate continues decline in Egypt
The US dollar was sold at LE17.13 and bought at LE17.03 at the National Bank of Egypt, Banque Misr, the Arab African International Bank and others.
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National Bank of Greece-Egypt leaves market after 100 years
Assets sold to Bank Audi worth €110m including loans, deposits, securities,17 branches with 250 employees.
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Egypt's central bank seen maintaining key rates
Eight out of 12 economists polled by Reuters said the bank’s monetary policy committee was unlikely to change its overnight rates.
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Bank Audi considering buying NBG’s Egypt unit
The website of National Bank of Greece’s Egyptian unit lists 18 branches in Cairo and elsewhere in the country.
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World Bank appoints new regional director for Egypt, Yemen, Djibouti
Before joining the World Bank, Wes worked as a principal economist at the European Bank for Reconstruction and Development.
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Egypt sells $1.7 billion worth of dollar T-bills
One-year dollar-denominated treasury bills worth $1.73 billion issued a year ago are due to mature on Tuesday.
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Banks continue to shine with strong business results in 9M18
The bank's management attributed these strong results to the bank's resilience, at a time of macroeconomic uncertainty.
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Egyptian economy performs well, IMF mission
An IMF team led by Mr. Subir Lall visited Egypt on October 18-31, 2018 to conduct the fourth review of Egypt’s economic reform program.
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Egypt ranks 15th in long-term growth: HSBC
The report concluded with HSBC's projection that EM countries will account for roughly 50% of the world by 2030.
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HSBC Egypt launches virtual cards for business customers
The card gives businesses the ability to generate single or multiple-use virtual card numbers to make bill payments or pay suppliers.
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Egypt PM lauds IMF report on economic performance
The report was positive and focused on the good economic performance in Egypt despite the crisis witnessed in emerging markets.
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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.