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Financial Institutions
Sawiris’ Beltone Financial acquires Arab Finance for $2.6mn
The board of directors of Beltone Financial Holdings (BFH) approved the 100% acquisition of Arab Finance for 23…
Egypt’s SFD in loan talks with World Bank, AfDB, JICA: official
Egypt’s Social Fund for Development (SFD) is currently in talks with some international institutions, notably the…
IFAD loans Egypt $70mn for agriculture projects
The International Fund for Agricultural Development (IFAD) is financing Egypt’s Sustainable Agriculture Investment…
IMF: War, oil rout erode Middle East, Central Asia growth prospects
Wars and depressed crude oil prices have diminished growth prospects for the Middle East and central Asia, and…
Tokio Marine Egypt General Takaful plans 56% rise in investments this FY
Insurer Tokio Marine Egypt General Takaful plans to increase its investments in the country by 56 percent in the…
Fitch says Egypt pound devaluation ‘credit positive’, economic challenges remain
Decisions by the Central Bank of Egypt (CBE) last week, including a devaluation of the Egyptian pound, are broadly…
AXA says CEO De Castries to step down
French insurance giant AXA SA announced Monday that its Chairman and Chief Executive Henri de Castries will step…
Egypt inks deal worth $1.5bn with Saudi fund for Sinai development
Egypt signed Sunday a $1.5 billion agreement with the Saudi Fund for Development (SFD) to finance development in…
Orient Takaful wins Automech Formula 2016 show’s $11.3mn insurance policy
Egypt’s Orient Takaful Insurance Company has won an insurance policy bid for the current edition of the Automech…
Saudi Arabia, Egypt to sign $8bn investment deal Sunday
Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF) will sign a preliminary agreement Sunday to…