Fitch improves Egypt’s credit rating to B+
Fitch upgrades Egypt's credit rating to B+ testifies to the Egyptian government, testifies Egyptian government's…
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Egypt’s tax change could spur banks to step up private lending
A proposed change to the way Egypt taxes bank profits could encourage lenders to boost credit to the private sector…
Egypt’s movable collateral registry collects 14,000 assets since March: I-Score
Egypt’s registry for movable assets, launched earlier mid-March this year, had collected 14,056 collaterals worth…
Moody’s upgrade Egyptian banking system’s outlook to positive
Moody's Investors Service upgraded its outlook of the Egyptian banking system to positive from stable.
Moody’s says Egypt fuel price hike is ‘credit positive’
Moody's Investors Service says in a recent report that Egypt’s fuel price hike is credit positive, as the increase…
Amendments to Egypt Capital Markets Law credit positive for banks: Moody’s
The amendments passed by Egypt’s parliament last week to the Capital Markets Law are credit positive for banks,…
Egypt’s external debt reaches $79 bln at end-2017: FinMin
Egypt's Finance Minister stated Tuesday that the external debt reached $79 billion at the end of 2017, not $100…
Fitch Ratings revises Egypt’s outlook to positive, affirms at ‘B’ rating
Fitch Ratings revised the outlook for Egypt’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs)…
S&P cuts China’s credit rating, citing increasing economic, financial risks
S&P Global Ratings downgraded China's long-term sovereign credit rating by one notch on Thursday to A+ from…
BLOM Bank-Egypt launches asset management unit
BLOM Bank Egypt, the Egyptian arm of Lebanon’s lender BLOM, has recently launched its asset management unit, deputy…
China provides US$10 billion credit line for Iran’s banks
A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran's central…
Dollar rally pauses as market braces for US inflation data
The U.S. dollar's rally paused on Thursday as traders waited for consumer inflation data later in the day for…
HSBC says H1 pre-tax profit falls 40% in Egypt
HSBC Plc says first-half profit before tax in Egypt has dropped 40 percent from a year ago to record $143 million.…
Europen markets fall after China’s downgrade
European markets opened lower on Wednesday, extending the losses seen in Asian markets, after Moody's downgraded…
Egypt to receive 2 gasoline shipments from Aramco by end of week
Egypt is set to receive two shipments of gasoline as part of the oil shipments supplied by Saudi Aramco by the end…
Banque Misr, ADIB to sign $150 bln loan in Q1
Egypt’s second largest state-owned lender, Banque Misr is planning to sign a loan worth $150 million with Abu Dhabi…
Tesla gets $300 million lease credit line from Deutsche Bank
Tesla Motors Inc (TSLA.O) said on Wednesday it had entered into an agreement with Deutsche Bank whereby the…
Banks in Egypt to finish ranking SMEs, microenterprises by end of August
Banks operating in the Egyptian market will finish classifying the small- and medium-sized enterprises (SME) and…
CIB-Egypt to tighten limits on card usage abroad
Egypt’s Commercial International Bank (CIB) has introduced new limits on Egyptians' use of debit and credit cards…
Baidu puts money in ZestFinance to develop search-powered credit scoring for China
Baidu has made its second investment in a U.S. fintech company inside a month after it put an undisclosed sum of…
Ratings agencies downgrade UK credit rating after Brexit
The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P…
Despite insecurity, Egypt’s banking sector is stable: Moody’s
Despite Egypt's government debt, which accounts for 88% of the GDP, a budget deficit of 11.5%, and 26.3% poverty,…
Egypt’s Carbon Holdings close to secure funds for $7bn petchems project
Egypt’s Carbon Holdings has secured agreement with one of the four export credit agencies expected to provide…
NBE, AlexBank to secure $33.7mn credit facility for Alexandria Business Association
Non-profit Alexandria Business Association (ABA) is set to receive credit facilities of 300 million Egyptian pounds…
Alexandria Business Association to get $33.7mn facilities from two banks next month
Alexandria Business Association (ABA) is set to get credit facilities of 300 million Egyptian pounds from ($33.7…
Moody’s upgrades Argentina as end to creditor battle nears
Moody's bumped up Argentina's credit rating one grade to "B3" on Friday due to "economic policy improvements" under…
Trump’s hotel chain faces another credit card system crack
Republican presidential candidate Donald Trump's string of luxury hotel properties, The Trump Hotel Collection,…
Egypt’s National Bank allocates $45mn for three leasing companies
National Bank of Egypt, the biggest state-owned bank, is studying arranging 400 million Egyptian pounds ($ 45…
Moody’s cuts Brazil credit rating to junk
Moody's became the third big agency to cut Brazil's credit rating to junk Wednesday, citing mounting debt and…
Egypt to receive €40 million line of credit from France
President Abdel Fattah al-Sisi issued a presidential decree approving a deal enabling Egypt to receive €40 million…
CIB seizes lion’s share of credit card portfolio in Egypt
The Commercial International Bank (CIB) seized lion's share of Credit Card in Egypt's banking market after…
Egypt’s Industrial Development Bank partners MasterCard for first credit card
The Industrial Development Bank of Egypt is to launch its first credit card in cooperation with MasterCard next…
Egypt’s National Bank approves lending food maker Edita $12.7mn
The National Bank of Egypt has approved to provide a credit facility worth 100 million Egyptian pounds (US$12.7…
U.S. retailers push banks to use PINs on credit cards as confusion reigns
Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit…
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…
International ratings agencies elevate Egypt’s rating in 1 year
Following consecutive downgrades of Egypt’s credit rating by international ratings agencies, an upward trend has…
Moody’s: China advances exchange rate reform, a credit positive
China's new forex rate formation mechanism is credit positive as it will increase currency flexibility and support…
Moody’s downgrades Greek bond rating on default risk
Credit rating agency Moody's Investors Service Thursday downgraded Greece's government bond rating to 'Caa3' from…
Banque Du Caire’s Credit Portfolio Hits EGP 11.7 Bln
Banque Du Caire’s portfolio of loans and credit facilities (including corporate and SME finances) reached EGP 11.7…
Euro Rises, But Don’t Credit The EU Summit
Anyone who has followed the nearly three-year-old debt crisis is familiar with the pattern: The euro—and financial…