Moody’s to acquire majority stake in Egypt’s MERIS
Moody’s Corporation (NYSE:MCO) announced plans to acquire a majority equity stake in Middle East Rating &…
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Financial Institutions
CBE suspends banking operations on Thursday for Revolution Day
The Central Bank of Egypt (CBE) announced that all banks operating in the country will suspend work on Thursday,…
EBRD, Banque Misr sign Egypt’s 1st $100m sustainability-linked loan deal
The European Bank for Reconstruction and Development (EBRD) signed Egypt’s first sustainability-linked financing…
India secures $386b for renewable energy expansion
India has secured a commitment of $386 billion from banks and financial institutions to expand its renewable energy…
S. Korea’s foreign securities investment up 2.1% in Q2
South Korea's institutional investment in foreign securities rose a 2.1 per cent increase in June quarter from the…
Canadian banks fall behind in renewable investments
Canada’s financial institutions are falling short in the investment levels required for renewable energy to reach…
Switzerland launches instant payments
Switzerland introduced instant payments on August 20, 2024, with around 60 financial institutions now able to…
China, US pact to address financial stress
China's central bank announced a significant development in financial diplomacy, revealing that a meeting in…
China boosts lending to flood-hit regions
The People's Bank of China (PBC) has announced a significant increase in relending quotas to support the…
China extends low-cost loans for carbon reduction to ’27
China's central bank, the People's Bank of China (PBOC), will extend a programme providing low-cost loans to…
Egypt’s MSMEDA, OECD partner to boost SMEs in MENA
Egypt’s MSMEDA is partnering with the OECD to support small and medium-sized businesses in the MENA region.
SWIFT to unveil CBDC platform within 2 years
SWIFT, the global bank messaging network, is set to launch a platform within 1-2 years to integrate the emerging…
Egypt expects over $20b FX inflows post IMF deal – FinMin
Egypt’s Minister of Finance Mohamed Maait said on Tuesday that the anticipated foreign cash inflows are estimated…
China tightens rules for consumer finance firms, eyes economic recovery
China has introduced stricter rules for consumer finance firms for the first time in a decade, raising the…
Fidelity to start layoffs in China
Fidelity International Limited (FIL) is reportedly initiating layoffs at its primary China division, aligning with…
Egypt’s banks, EGX to close 17 and 18 June for Eid Al-Fitr holiday
The Central Bank of Egypt (CBE) said Sunday that banks and the Egyptian Exchange (EGX) will be closed next Sunday…
Saxo Bank launches new trading platform for active traders, institutions across MENA
Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, launches new trading…
IMF, Egypt to host inclusive growth, job creation conference next month
The International Monetary Fund and Egypt’s central bank and government will co-host a high-level conference in…
IMF’s Lagarde: Egypt economy is back on a productive, positive path
Egypt is making a clear rebound of growth and the Egyptian economy is back on a productive and positive path,…
IMF’s Lagarde says US-China trade conflict threatens global confidence
The biggest danger from the trade dispute between the United States and China is the threat to global confidence…
IMF: global debt had hit a record high, and 3 states are to blame
Global debt has reached a record high, and three countries account for more than half of it, according to a new…
Egypt’s FinMin to address parliament on FY2018/19 budgeting
Egypt's Minister of Finance Amr El-Garhy is scheduled Sunday to address the parliament on the country's new…
Egypt issues preliminary financial statement for FY2018/19 budgeting
Egypt's Finance Ministry issued Friday the preliminary financial statement for the 2018/2019 budget for the third…
Egypt closes €2 bln euro-denominated bond issuance: ministry
Egypt closed a €2 billion euro-denominated two-tranche bond issuance on Monday that was 3.8x oversubscribed, the…
Egypt to increase a maximum of €2 bln with planned bond
Egypt will raise up to €2 billion with its planned dual-tranche bond, which is expected to price later on Monday, a…
Egypt to maintain customs exchange rate at 16 pounds per $1 for 6 month in a row
Egypt has decided to maintain its current customs exchange rate of EGP 16 per $1, effective in April, for the…
Mastercard unveils roadmap for contactless payment consistency
Mastercard announced an initiative to create greater payment consistency by making “tap and go” standard in the…
Egypt’s Finance Ministry dismisses reports of exchange rate 17.5 pounds to 1 USD
Sources at the Egyptian Ministry of Finance denied that the government has fixed the exchange rate for EGP to USD…
NKC expects strong rebound for Egypt economy after reforms
Egypt’s economy is expected to witness more rebound in the coming period, an economist at Oxford Economics’…
Egyptian external debt may exceed $87.5 bln on Eurobond sale
Egypt’s external debt could surpass $87.5 billion now, on the back of issuing Eurobonds, according to a…
Remittances of Egyptians in Jordan reach $80 mln in January
The Ministry of Manpower and Immigration said on Saturday that the total remittances of Egyptians working in…
Suez Canal Insurance wins policy bid for New El Alamein City’s projects
Egyptian composite insurer Suez Canal Insurance (SCI) says it has won a policy bid to insure a number of new…
Moody’s says Egypt’s capital market law amendments are ‘credit positive’
The latest amendments to Egypt’s Capital Market Law, recently approved by parliament, are credit positive for the…
Egyptian tax revenues rise 61% in H1 of FY2017/18
Egypt's tax revenues rose by 61 percent year-on-year during the first half of financial 2017/2018 that began in…
PwC, WPP hail Egypt’s successful campaign to reduce electricity use
The world’s leading communications services group WPP and Global financial auditing and consulting company…
INTERVIEW: IMF official says Egypt’s reform path is on track
In a closed press meeting from Dubai on the sidelines of the World Government Summit, Jihad Azour, Director of the…
Egypt needs more market stability before Eurobond issue: minister
Egypt is monitoring the market conditions to choose the most appropriate time to launch its international bond…
Foreign holdings of Egypt debt jump to $20.3 billion: minister
Foreigners have invested a total of around $20.3 billion in Egyptian debt instruments since the central bank…
Egypt’s finance minister expects inflation to fall 10-13% at year-end
Egypt’s inflation is expected to fall between 10 to 13 percent at the end of the current year, Finance Minister Amr…
IMF: Global economy is doing great but not lifting MENA enough
International Monetary Fund (IMF) Managing Director Christine Lagarde said Saturday that the global economic…