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Money
Misr Emirates Life Takaful to raise capital to EGP 250 million by year-end
Misr Emirates Life Takaful – SALAMA, part of UAE’s Islamic Arab insurance Companies, plans to increase its paid-up…
Egypt’s Banque Misr net profit grows 113% in 18 months
Banque Misr, Egypt’s second biggest state lender, reported on Wednesday a 113 percent growth in net profit to 23.5…
BREAKING: U.S. Fed unveils another big interest rate hike at 75 basis points
The U.S. Federal Reserve (Fed) has on Wednesday hiked its key interest rate by three-quarters of a percentage point…
National Bank of Egypt pre-tax profits hit EGP 66 billion in 18 months
The National Bank of Egypt (NBE), the country’s biggest state-run lender, has announced on Wednesday its pre-tax…
Al Baraka Banking Group shifts to category 1 Islamic investment firm licence
Al Baraka Banking Group B.S.C. (ABG) has converted its current Islamic Wholesale Bank licence in Bahrain to a…
Egypt’s SODIC achieves H1 gross contracted sales of EGP 6.67 billion
Sixth of October Development & Investment Company (SODIC) has released On Wednesday its consolidated financial…
Saudi crown prince plans IPO of $500 billion megaproject Neom by 2024
Saudi Arabia's Crown Prince Mohammed bin Salman is planning the Initial Public Offering (IPO) of the Kingdom’s SAR…
IMF keeps Egypt’s real GDP growth forecast for 2022, but sees slower later
The International Monetary Fund (IMF) has estimated Egypt’s real GDP growth in 2022 at 5.9 percent, the same as…
Egypt hosts African Re meetings first time since COVID-19 outbreak
Egypt is hosting on Wednesday the representatives of 42 African countries at the General Assembly and the Board of…
Egypt’s Arab Contractors approves capital increase for up to EGP 8 billion
Egypt’s state-run construction firm Arab Contractors (AC) has approved an increase in its paid-up and issued…