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Financial Institutions
Suez Canal Insurance wins policy for East Port Said tunnel drilling equipment
Egypt’s leading composite insurer, Suez Canal Insurance Company has won a policy bid to insure one of the drilling…
S&P cuts European Union credit rating amid Brexit vote
Ratings agency Standard and Poor's has cut its credit grade on Thursday for the European Union after the UK's vote…
Abu Dhabi eyes merger of sovereign funds Mubadala and IPIC
Abu Dhabi plans to merge two of its largest sovereign investments funds as the sheikhdom pursues consolidation in…
Misr Insurance renews Nasr Petroleum’s $394 mln insurance policy
The leading insurer in MENA region, Misr Insurance Company has renewed a medical insurance policy bid for Nasr…
IMF says has not received loan request from Egypt, ‘stands ready’ to help
The International Monetary Fund said on Monday it had not received any financing request from Egypt but stood ready…
IMF mission seen in July as Egypt starts $5 bln loan talks: minister
A delegation from the International Monetary Fund (IMF) is expected to visit Egypt next June to resume talks over a…
Egypt parliament approves Kuwaiti Fund’s $20 mln refugee support grant
Egyptian parliament has approved Monday a $20 million grant deal signed with the Kuwait Fund for Arab Economic…
Egypt to issue multi-billion pounds treasury bonds to finance state budget
Egypt’s Ministry of Finance will issue Sunday two treasury bonds totalling 3 billion Egyptian pounds ($340 million)…
French AXA Insurance pumps $6.8 million into CIL Egypt’s capital
French insurance group AXA has completed pumping 60 million Egyptian pounds ($6.8 million) into its…
Egypt’s SFD negotiating Arab Fund for $50 million finance package
Egypt’s Social Fund for Development (SFD) is negotiating a $50 million financing package from the Arab Fund for…