Bitcoin extends slide, falls below $7,000
Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns…
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Bitcoin price falls below $8,000 for first time since November 24
Bitcoin's price dipped below $8,000 for the first time in 11 weeks in the midst of a broader cryptocurrency…
Companies participating with $10 trillion AUMs in CI Capital conference
Second MENA Investor Conference started in Cairo on Wednesday organized by Local financial services group CI…
Global Lease to inject funds of 1 bln during 2018
Global Lease Company aims to pump funds 1 billion Egyptian pounds ($56 billion) during 2018, the company CEO Hatem…
Bitcoin briefly dips below $10,000 on Coinbase, and ethereum crashes too
Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically…
Insurance companies achieve net investments of 86 bln pounds in 2017: Omran
The net investments of the insurance companies registered 86 billion Egyptian pounds ($4.8 billion) by the end of…
EFG Hermes launches second annual Egypt Conference
EFG Hermes’ second annual Egypt Conference began yesterday hosting the international investment community for three…
Acumen to launch equity fund of 200 mln pounds in H1 2018
Egypt-based investment bank Acumen Holding is planning to launch an equity fund with a capital of 200 million…
UAE’s SHUAA Capital for securities brokerage initiates Egypt Operations
SHUAA Capital, the United Arab Emirates-based integrated financial services firm, announced that its securities…
Moody’s pays $864 million to U.S., states over pre-crisis ratings
Moody's Corp (MCO.N) has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over…
IMF deal eases Egypt’s market pressure along with other frontier markets: Fitch
IMF support has played an important role in reducing external liquidity risks, medium-term default risks in Egypt,…
Saudi Monetary Agency loans may ease banks liquidity squeeze:Fitch
The Saudi Arabia Monetary Agency's decision on 31 July to extend SAR15bn (USD4bn) of one-year loans to Saudi…
EFG Hermes names new CEO to finance division
As a step towards improving the efficiency of financial services and non-banking activities, the CEO of EFG Hermes…
Morgan Stanley forewarns currency traders worst to come for Dollar
The dollar is set to fall 5 percent in the next few months, the Federal Reserve isn’t raising interest rates…
Egypt’s Paradigm Invest concludes 3 deals in favour of Arab investors
Paradigm Invest Financial Consultation, an economic consulting firm, will conclude three new deals in the Egyptian…
IMF admits blindly backing Euro project, apologises for the immolation of Greece
The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments…
Moody’s places Turkey’s debt ratings on review for downgrade
Moody's Investors Service placed Turkey's Baa3 issuer and bond ratings on review for downgrade, citing the need…
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…
Egyptian asset manager Beltone Financial to buy NYC brokerage firm
Beltone Financial, Egypt's largest asset manager, signed an agreement to acquire 51 percent of New York-based…
S&P says Japan sales tax hike delay makes ‘some sense’
Delaying a sales tax increase in Japan scheduled for April next year makes "some sense" because the weak economy…
Goldman Sachs cuts equities to ‘neutral’, upgrades commodities
Goldman Sachs downgraded equities to "neutral" over a 12-month time-frame on growth and valuation concerns, but…
King Salman launches Egyptian-Saudi fund with capital of $16bn
Saudi Arabian King Salman bin Abdulaziz Al-Saud launched an Egyptian-Saudi investment fund with a capital of SAR…
Moody’s describes Pound devaluation as credit positive for Egypt
The recent decision by the Central Bank of Egypt (CBE) to adopt a flexible exchange rate has been remarked as…
Misr Insurance eyes net profit of $112 million in FY2015/16
The Egyptian Misr Insurance Holding Company aims at increasing net profits to 1 billion Egyptian pounds ($112…
EFG Hermes seizes 76.7% of Tanmeyah for US$44mn
EFG Hermes, the leading investment bank in the Arab world, has entered into a binding agreement to acquire 76.7% of…
Takaful insurance captures 11 % of Egypt’s insurance market
Takaful insurance activity currently seizes 11 percent of the sector’s installment portfolio, Secretary-General of…
S&P settles Australian lawsuit over Lehman Bros collapse
A substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against…
Saudi Arabia allocates $31 million to activate Sisi’s initiative for youth
The Saudi Fund for Development grants 250 million Egyptian pounds ($31 million) to Egypt’s Social Development Fund…
Wethaq Takaful Insurance-Egypt investment portfolio hit $35mn last December
The investment portfolio of Wethaq Takaful Insurance -Egypt has increased to 273.55 million Egyptian pounds…
Cabinet endorses Kuwait fund’s loan for Egypt-Saudi power link
Egyptian Cabinet approved Thursday a loan agreement with Kuwait Fund for Arab Economic Development (KFAED) to…
Tokio Marine Egypt eyes $11mn premiums by end-June
Tokio Marine Egypt General Takaful eyes boosting premiums volume by 56.4 percent during the fiscal year 2015-16 to…
Alexandria Business Association injects $140mn for micro enterprises in 2015
Alexandria Business Association (ABA) has pumped 1.1 billion Egyptian pounds (US$140.4 million) 345,000 loans for…
Egypt’s Beltone Capital targets share sale in 2016
Egypt's Beltone Capital, which aims to raise 1 billion Egyptian pounds ($128 million) in an initial public…
SFD-Egypt eyes boosting funds by 35% by 2016
Egyptian Social Fund for Development (SFD) targets boosting the volume of finances for Micro, Small and Medium…
Arab funds pledge $1.5 billion finances for Sinai development scheme
Arab financial institutions are pledging to provide Egypt with $ 1.5 million annually in favour of Sinai…
Egypt’s private insurance funds record $5.5bn in investments
The investments of the private insurance funds in Egypt grew 8 percent in 2014 to reach 43 billion Egyptian pounds…
Egypt expects $1.5bn in aid by year-end, eyeing IMF
Egypt expects to receive $1.5 billion from the World Bank and African Development Bank by the end of this to…
SFD finances for Egypt’s micro enterprises exceed target for 2015
The finances of Egypt's Social Development Fund (SFD) for micro enterprises recorded 1.2 billion Egyptian pounds…
Egypt’s T-bill yields almost unchanged at Sunday’s auction
Yields on Egypt's three- and nine-month treasury bills are almost unchanged during Sunday's auction, data from…
Private insurance funds assets hit $6bn in FY2014-15: Egypt regulator
The total assets of private insurance funds rose by 10 percent to hit 48.2 billion Egyptian pounds (US$6.1 billion)…