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Money
Industrial Development Bank to install ATMs in all the Bank’s branches
By Mohamed Hamdy Industrial Development and Workers Bank will install ATMs in its 17 branches across Egypt.
China banks’ 2011 profits hit new high, growth slows
Profits of Chinese banks reached a record high of 1.04 trillion yuan ($165.10 billion) in 2011, marking an increase…
China acts to crank up credit as lending, economy slow
China's central bank cut the amount of cash banks must hold in reserves on Saturday, boosting lending capacity by…
Social Fund to increase loan portfolio to EGP 5 billion this year
Written by: Ahmed Aly and Mohamed Hamdy The loan portfolio, offered from the Social Fund for Development to finance…
Minister of finance to sign an IMF US$ 3.2 bn loan agreement next month
Momtaz El-Saeed, Finance Minister, said that the International Monetary Fund (IMF) mission will arrive in Cairo in…
SWIFT ready to block Iranian Banks
Belgium-based SWIFT, which provides banks with a system for moving funds around the world, bowed to international…
BofA Said to Freeze Moynihan’s Salary as Stock Awards Decline
Bank of America Corp. cut Chief Executive Officer Brian T. Moynihan’s compensation for 2011, granting him no cash…
China c.bank says alert to systemic stability risks
China will make every effort to prevent systematic or regional risks to financial stability in 2012, the…
UBS Said to Apply for Immunity in Libor Probe, Suspend Traders
UBS AG, Switzerland’s biggest bank, sought immunity from prosecution by Canadian regulators probing a potential…
SocGen Fourth-Quarter Net Drops 89% on Investment Bank Loss
Societe Generale SA, France’s second-largest bank, said fourth-quarter profit fell 89 percent as the investment…
