Bank News
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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.
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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.