Egypt’s external debt declines in H2 FY ’23/’24
Egypt's external debt reached $152.9 billion by the end of the second half of fiscal year 2023/2024, down nine per…
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Al Baraka bank earnings increase by 20.6% in Q1 of 2023
Al Baraka Bank-Egypt announced on Monday that it has witnessed an increase in its net earnings by 20.6 percent…
World Bank keeps Egypt’s real GDP growth at 5.5% in 2021/2022
The World Bank (WB) decided to maintain Egypt’s real GDP growth at 5.5 percent for the financial year 2021/2022,…
4 banks manage EGP10bln securitization bond of NUCA
The National Bank of Egypt, CIB, and the Arab African International Bank, Housing And Development Bank are managing…
CI Capital’s Egypt IPO covered almost 30 times
The public share offering of Egyptian investment bank CI Capital was covered around 29.5 times at a price of 7.7…
Bahrain’s Al Baraka Banking seeks to expand in Indonesia
Bahraini Islamic lender Al Baraka Group is seeking to expand in Indonesia, where investors mostly prefer…
Bahrain’s Al Baraka Banking provides $500 mln to fund trade in Egypt
Bahraini Islamic lender Al Baraka Group has pumped $500 million in loan facilities into the Egyptian market…
Egypt’s Premiere says to open rep office in Dubai before H1-end
Egyptian financial service company Premiere Holding aims to open a representative office in Dubai, as part of a…
World Bank’s Kim says bank capital boost doesn’t specify China lending cut
World Bank’s President Jim Yong Kim said Thursday that a plan to boost the multilateral lender’s capital base does…
Orange reaches new loan deal with 8 Egyptian banks
Orange Egypt, part of French telecom giant, announced Thursday reaching an agreement with a consortium of eight…
Central bank of Egypt cuts key rates again as inflation continues to ease
Egypt’s central bank cut Thursday its key interest rates by 100 basis points for the second meeting in a row as…
Premiere Holding to launch Egypt’s first agriculture fund this year
Cairo-based financial service company Premiere Holding announced Monday plans to launch Egypt’s first agricultural…
EBRD launches its 1st project in Lebanon, invests in Bank Audi
The European Bank for Reconstruction and Development (EBRD) completed Sunday an equity investment in Lebanon’s…
Egypt’s FX reserves at new record high in February after Eurobond sale
Egypt’s foreign reserves rose to a new record high in February, data from the central bank showed on Sunday. The…
Standard Chartered Bank’s 2017 profit soars
Standard Chartered Bank announced Tuesday that its 2017 underlying pre-tax profit soared to $3.01 billion — handily…
Exclusive: Shares of 5 banks in two Egyptian state-run oil firms’ loan
A consortium of five Egyptian banks signed last week a financing agreement worth 4 billion Egyptian pounds ($225.8…
EBRD loans $52 million to support Chinese investment in Egypt
The European Bank for Reconstruction and Development (EBRD) has secured a $52 million loan to Angel Yeast Egypt, a…
Qatar National Bank hires CI Capital for 2% stake sale in Egypt unit
Qatar National Bank (QNB) said Sunday it has hired CI Capital to advise it on the sale of a small stake in its…
Bank Audi Egypt’s Ezdehar Fund wins two awards
Bank Audi’s Ezdehar Fund, with cumulative and floating returns in Egyptian pound, has been awarded the “Best…
World Bank: Investing in people ‘vital’ for nations’ economic development
World Bank’s President Jim Yong Kim said Monday the need to invest in human capital is lagging across the globe and…
WB’s Mohieldin co-leads Global Councils on Sustainable Development Goals
Egyptian prominent economic liberaliser and senior World Bank official Mahmoud Mohieldin will co-lead the Global…
Five Egyptian investment banks win at MENA Fund Manager Performance Awards
Acumen Asset Management, CI Asset Management, EFG Hermes Asset Management, Rasmala Egypt Asset Management, and HC…
Egypt’s external debt hits $81 billion: finance minister
Egypt’s external debt has reached $81 billion, the country’s finance minister said in a television interview on…
World Bank says Egypt’s GDP growth projected to hit 4.5% in FY2018
Egypt’s gross domestic product is projected to grow to 4.9 percent by 2018, suggesting ongoing reforms and improved…
Egypt’s Pharos advising on two acquisitions in H1
Egypt’s investment bank Pharos Holding says it is advising on two acquisitions valued at 2 billion Egyptian pounds…
Five predictions for digital currencies in 2018, including bitcoin-related IPO
After the bitcoin craze surged to a near-fever pitch in the last several weeks of 2017, several investors and…
Egypt to issue one-year $850 mln T-bill – c.bank statement
Egypt plans to sell $850 million in one-year dollar-denominated treasury bills to local and foreign financial…
Egypt’s foreign reserves rose to $37.019 bln at end-December
Egypt’s foreign reserves surged to $37.109 billion at the end of December from $36.723 billion a month earlier, the…
ECB may end bond buying in 2018 if economy stays strong
The European Central Bank (ECB) may end its stimulus programme this year if the euro zone economy continues to grow…
Egypt has repaid around $30 bln in foreign debt during 2017: c.bank source
Egypt repaid around $30 billion dollars in foreign debt throughout 2017 and expects to pay off more than $12…
Egypt keeps customs dollar exchange rate at 16 pounds for January
Egypt will keep its customs dollar exchange rate steady at 16 pounds for January, the finance ministry said in a…
Egypt’s Arab Investment Bank 2017 net revenues grow 15%
Egypt’s Arab Investment Bank (AiBK) says its full-year net revenue has grown 15 percent from a year ago, reaching…
Afreximbank studying $50 mln SME loan for Egypt’s United Bank
The Africa Export-Import Bank (Afreximbank) is studying lending Egypt’s state-run United Bank around $50 million to…
Venezuela government says an oil-backed cryptocurrency to launch in days
Venezuela's cryptocurrency will launch within days and be backed by 5.3 billion barrels of oil worth $267 billion,…
Fed could surprise markets with more interest rate increases than expected: economists
Wall Street economists are warming to the idea that the U.S. Federal Reserve may hike interest rates four or more…
Egypt pays off $2 bln of debt in December
Egypt’s central bank repaid about $2 billion in debt to international bodies in December, state-run MENA news…
Sudan, Saudi Arabia reportedly to restore banking ties
Sudan and Saudi Arabia have agreed to re-establish banking relations, the official Sudanese news agency SUNA…
Banque Misr’s Islamic finances hit 6 bln pounds in FY2016/17
Egypt’s second-largest state bank, Banque Misr says its Islamic financing portfolio has grown to 6 billion Egyptian…
Banque Misr mulling giant funding for Egypt infrastructure sectors
Egypt’s second-largest state bank, Banque Misr is considering raising around 33.3 billion Egyptian pounds ($1.8…
EBRD, Egypt sign $200 mln energy efficiency funding deal
The European Bank for Reconstruction and Development has signed Wednesday a $200 million loan agreement to finance…