Finance News
-
Petroleum prices drives stock market down: Experts
Market gains EGP 5.9bn Monday after witnessing a huge loss the previous day.
-
US poised to lift curbs on $1.5bn aid to Egypt
The potential US spending bill allows the secretary of state to waive conditions placed on Washington’s nearly $1.5 billion in economic and military aid to Egypt.
-
Egypt, MENA, and Subsidies: Whereto?
Egypt spends seven times more on fuel subsidies than on health, whereas the amount of fuel subsidies going to the richest quintile lies at 60%.
-
41% of Egyptian corruption investigations incomplete: World Bank
World Justice Project says Egyptian citizens and businesses find it difficult to access public services without paying bribes.
-
EBRD injects $50m in trade facility for Egypt
EBRD will issue guarantees in favour of international commercial banks, covering political and commercial payment risks for transactions made by CIB.
-
Egypt has only begun to tackle subsidy problem, World Bank says
Steps by the government in July to reduce energy subsidies were “tremendous,” Shantayanan Devarajan said.
-
Egypt's inflation slows to 9.1% in November
Urban inflation down in November after significant spike during September and October.
-
An investment bank revives along with Egypt
EFG Hermes has re-emerged as the go-to investment bank in Egypt — bringing companies public and funneling foreign investor money.
-
Subsidies and the Construction Industry
The Cement and Steel Industry are under threat due to the government’s plans to reduce subsidies on energy-consuming industries.
-
Egypt's net international reserves down to $15.9 bn
Egypt has returned most of a $3bn loan from Qatar received during Mohamed Morsi's rule.
-
Numerous public bank officials resign to protest maximum wage
New maximum wage sets wages at 50% less than original wages, resigned NBE official says.
-
IDB allocates $220m for Egypt-Saudi power interconnection project
The approval covers sectors including energy, roads, petrochemicals, water, education, and health.
-
Deputy governor of Egypt's central bank resigns
The second highest-ranking official in Egypt's central bank has resigned, two senior sources said on Wednesday.
-
EGP 10.5bn to support budget deficit by Egyptian banks
NBE-led union collects loan worth $1.5bn to pay portion of the dues of foreign oil companies operating in Egypt.
-
HSBC Group believes in long-term future of Egypt
The bank remains committed to investing in the growth of its business in the country.
-
NBAD, HSBC, NBE arrange $1.5 bln syndicated loan for state oil company
Each bank would arrange $500 million of the loan in order for Egypt to pay back foreign energy companies.
-
Egypt pays back $2.5 billion deposit to Qatar: central bank official
The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding.
-
EALB in talks with 5 Gulf firms to market its property assets
The bank has recently contracted with Marsa Abu Dhabi Properties LLC to marketing assets for Egyptian abroad in the current year.
-
Abu Dhabi investments fuel banking recovery in Egypt
Investments by Abu Dhabi companies in Egypt are feeding a revival in the country’s corporate banking industry.
-
Egypt’s hopes of attracting investment given timely boost by IMF
Policies implemented so far, along with a return of confidence, are starting to produce a turnaround in economic activity and investment.