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Money
Egypt to borrow 371bn pounds to fund budget deficit within Q1-FY2017/18
Egypt's government plans to borrow 371 billion Egyptian pounds to finance the deficit of the country's general…
Nonperforming loans drop by 5.7% in Egypt’s banks at end-March: CBE
The ratio of non-performing loans at banks operating in the Egyptian market fell to 5.7 percent of the total loan…
IMF cuts forecast for US growth to 2.1% in blow to Trump tax plan
The International Monetary Fund said Tuesday it had cut its growth forecasts for the US economy to 2.1 percent in…
Egypt to keep customs dollar exchange rate at 16.5 pounds/dlr in July: official
Egypt will keep its customs exchange rate steady at 16.5 pounds per dollar for July, Egyptian Deputy Finance…
Egypt to pay $720 million to Paris Club next week
Egypt will pay back around $720 million to the Paris Club of creditor countries by next week, the central bank…
Banque Misr to receive Afreximbank’s $200 mln SME facility in July – official
The African Export-Import Bank (Afreximbank) will provide Egypt’s second largest bank, state-owned Banque Misr with…
A.M. Best affirms GIG-Egypt’s rating at BBB with stable outlook
A.M. Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb”…
Foreign investments in Egypt government securities at highest level since 2011
Foreign investment in Egypt’s domestic debt instruments has jumped to 92.624 billion Egyptian pounds ($5.12…
Egypt’s Talaat Moustafa shares rise after CEO returns to office
Egyptian real estate tycoon Hesham Talaat Moustafa has been appointed once again as the chief executive of the…
Moody’s: Egypt’s reviving tourism to prop up banking sector
A 51 percent year-on-year rise in tourist arrivals in the first quarter of 2017 is likely to prop up the banking…