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IMF To Cut Global Growth Forecast
The International Monetary Fund (IMF) is set to cut its forecast for global growth next month when it updates its…
Foreign Reserves Expected To Rise On Morsi’s Foreign Visits
Rania Al-Mashat, deputy governor of Central Bank of Egypt (CBE), expected Egypt’s foreign cash reserves to soar in…
Egyptian Central Bank Says Happy With Currency’s Value
The head of foreign reserves management at Egypt's central bank said on Monday he was happy with the Egyptian…
Industrial Development Bank Provides Waste Recycling Factory With EGP 55 Mln
The Industrial Development and Workers Bank of Egypt approved yesterday to provide a finance of about EGP 55…
NBE Freezes Negotiations Over Settling Taysir El-Hawari’s Debts
The negotiations between the National Bank of Egypt (NBE) and the loan-defaulting businessman Taysir El-Hawari, who…
Agricultural Credit Bank Plans Launching Sukuk In 2012
The Principal Bank for Development and Agricultural Credit targets to launch new sukuk instrument before the end of…
NBE May Incur EGP 400 Mln Loss On Loan To National Gas
The National Bank of Egypt (NBE) may incur a loss of EGP 400 million, which is the value of loans offered to the…
QNB ‘Scraps’ BNP Egypt Chase To Focus On Socgen Network
QNB has dropped its interest in buying the Egyptian operations of France’s BNP Paribas, favouring instead the…
Yields Tumble At Egypt 91-, 266-Day T-Bill Auction
The average yields on 4.5 billion Egyptian pounds ($738.49 million) of 91- and 266-day treasury bills fell sharply…
United Bank Signs First Two Islamic Finance Contracts
The United Bank of Egypt signed the first two sharia-compliant syndicated loan contracts, said Mohamed Ashmawy, the…