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Financial Institutions
Allianz Life Assurance – Egypt profits at $12.8 mln in FY 2018/19
Allianz Life Assurance Company – Egypt posted profits up to 201 million Egyptian pounds ($12.8 million) during the…
Goldman, Morgan Stanley receive approvals for majority stakes in China ventures
Goldman Sachs (GS.N) and Morgan Stanley announced that they had received the final regulatory approvals to take…
World is in a recession thanks to coronavirus: IMF chief
The global economy is now in a recession thanks to COVID-19 yet only a coordinated effort will be able to stem the…
Fitch downgrades UK credit rating to AA- on coronavirus impact
Fitch Ratings has downgraded UK credit ranking to AA- from AA on the weakening of public finances caused by the…
Egypt approves FY2020/21 draft budget, targets 6.3% deficit decline
Egypt’s cabinet has initially approved the FY2020/2021 draft budget. It aims at maintaining the country's financial…
Coronavirus drives Egypt to slash FY 2019-2020 GDP growth target to 5.1% – minister
Egypt has cut its GDP growth target for the current financial year 2019-20 to 5.1 percent from 5.6 percent due to…
5 Egyptian insurers vying to win Cairo Opera House policy bid
Four insurance companies are competing to win an insurance policy tender launched by General Authority For National…
MSMEDA injects EGP10mln to covert to convert cars to natgas
Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a 10 million Egyptian pounds deal with…
EFG Hermes concludes Saudi Sulaiman Al Habib Group’s $700 mln IPO
Egyptian investment bank, EFG Hermes announced on Monday it had completed advisory on Sulaiman Al Habib Group’s…
Financial Regulatory Authority welcomes issuing consumer financing law
The Financial Regulatory Authority (FRA) welcomed Saturday President Abdel Fattah El Sisi’s decision to issue…