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Financial Institutions
Moody’s: Drop in Egypt’s foreign reserves ‘credit negative
The steady drop of Egypt’s international foreign reserves is “credit negative,” according to a report released by…
Misr Insurance Holding affiliates record revenues $11bn at end-June
The total revenues of Misr Insurance Holding Company (MIHC)’s affiliates hit 7 billion Egyptian pounds (US$10.7…
Egypt’s financing gap to reach $20bn in coming two years: IMF official
The gap in Egypt's financing is estimated at $20 billion over the coming two years, Masood Ahmed, International…
IMF: Improvements in Europe’s economy provide tailwinds for growth in Egypt
The Arab Countries in Transition (ACTs) have had diverging trajectories over the past year and face an uncertain…
Egypt’s finance minister off to IMF-World Bank Annual Meetings in Peru
Egyptian Ministry of Finance Hany Qadry is heading a delegation to attend the annual meetings of the International…
Orascom Telecom, Act Financial seek 100 pct of Beltone Financial
Orascom Telecom Media and Technology and Act Financial are seeking to acquire 100 percent of Egypt-based financial…
IMF projections on Egypt growth less optimistic than government’s
The International Monetary Fund (IMF) forecast that Egypt's economic growth for 2015 and 2016 will reach 4.2 and…
African Reinsurance: Gross written premium 1.8% up in 6 months
The African Reinsurance Corporation (Africa Re), the leading reinsurer in Africa, has secured a half year gross…
Moody’s maintains U.S. credit rating and stable outlook
Ratings agency Moody's Investors Service upheld the United States' triple-A credit rating and stable outlook on…
Egypt’s growth forecast unchanged in IMF latest report
The International Monetary Fund (IMF) has kept its forecasts for Egypt's growth at 4.2 percent in 2015 and 4.3…