Egypt’s top FX firms collect EGP 11.9b after flotation decision
The exchange firms associated with the National Bank of Egypt, Banque Misr, and Banque du Caire have collected…
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flotation
Egypt FX firms’ revenues hit EGP 4.18b since flotation
Following the recent decisions by the Central Bank of Egypt, the foreign exchange companies of the three largest…
Egypt’s major FX firms collect EGP 3.5b since flotation
Egypt’s Al Ahly and Misr exchange firms have collected 3.544 billion Egyptian pounds in Arab and foreign currencies…
No date set for flotation of Egyptian bonds in Asian markets: ministry
Egypt's Ministry of Finance said on Monday that no date has so far been set for the flotation of Egyptian bonds in…
Egypt maintains customs exchange rate at 16 pounds per USD
Egypt will continue to maintain its current customs exchange rate of 16 pounds per $1, effective starting August…
Egypt to maintain customs exchange rate at 16 pounds per $1 in March
Egypt will maintain its current customs exchange rate of 16 Egyptian pounds per 1 US dollar, effective until the…
Egypt to keep customs exchange rate at 16 pounds in December: ministry
Egypt will keep its customs exchange rate steady at 16 pounds per dollar for December, the finance ministry said…
Egypt to keep customs exchange rate at 16 pounds in November
Egypt will keep its customs exchange rate unchanged at 16 pounds per dollar for November, the finance ministry said…
Egypt attracts $9.8bn foreign investments in FY2016/17: deputy FinMin
Foreign investments in Egypt’s domestic debt instruments rose to $9.8 billion during the financial year 2016/2017,…
Egyptian pound flotation poses challenges for banks’ 2016 financial positions
The decision of the flotation of the pound towards the end of last year affected all banks in the banking sector…
Foreign direct investment in Egypt rises to $6.8bn during 2015/16
The net foreign direct investment in Egypt during the financial year 2015/2016 reached $6.8 billion, said…
Egypt attracts $3.1bn foreign investment in domestic debt: deputy finance minister
Egypt attracted $3.1 billion of foreign investment in domestic debt instruments since the flotation of the pound in…
Bank Audi Egypt to increase 4.5bn pounds-loan portfolio by end-2017
Bank Audi Egypt is planning to increase its loan portfolio volume to 4.5 billion Egyptian pounds ($249.2 million)…
Egypt to raise customs dollar to 17 pounds this weekend – minister
Egypt will raise the customs dollar exchange to 17 pounds from 15.7, for two weeks effective from March 16th,…
Africa Reinsurance sees 4% in 2017 Egypt premiums after float
African Reinsurance Corporation (Africa Re) said Wednesday that it expects this year premiums in Egypt would shrink…
Banque Misr raises $1.020 billion after Egypt pound float – official
Egypt’s second biggest bank, state-owned Banque Misr has collected $1.020 billion since Nov 3 local currency…
Faisal Islamic Bank revenues climb by 1.5 bln Egyptian pounds on currency float
Egypt’s Faisal Islamic Bank reported a rise in 2016 revenues by 1.557 billion Egyptian pounds ($83.1 million),…
IMF: Egyptian pound depreciation was ‘more than expected’
IMF mission chief for Egypt, Chris Jarvis said Wednesday that Egyptian pound had depreciated more than expected…
NBE: assets surge to 1.1 trillion Egyptian pounds after currency float move
Egypt’s biggest lender, the state-owned National Bank of Egypt says assets have surged to around 1.1 trillion…
Brent hike, flotation eat 91% of fuel subsidies in H1 of FY 2016-17
The Ministry of Petroleum began reviewing fuel subsidy allocations for the current fiscal year (FY) 2016/2017 to…
Saudi riyal reaches new record high at 5 against Egyptian pound
Saudi Riyal surged on Monday to its highest level against Egyptian pounds since the latter’s Nov. 3 flotation,…
Egypt’s United Bank: bad loans edge higher on currency float move
The state-run United Bank of Egypt’s portfolio of bad loans has surged to 3.5 billion Egyptian pounds ($191.2…
CAPMASS: Egypt Nov urban consumer inflation surges to 19.4% after currency float
Egypt's annual urban consumer price inflation soared in November to 19.4 percent from 13.6 percent in October, the…
Egypt central bank governor says intervention in currency market is ‘history’
Egyptian Central Bank Governor Tarek Amer has said nothing would prompt him to intervene to prop up the country’s…
Snapchat ‘files for stock market float’
Snap, the parent company of messaging app Snapchat, has filed to list on the US stock market, according to several…
Banks secure $2.2bn to meet customers’ needs since pound flotation
The Information and Decision Support Center (IDSC) in the Egyptian cabinet said Wednesday that the banks operating…
Imported medicines to be reduced for three months in Egypt
After the Central Bank of Egypt (CBE) announced the pound floatation last Thursday, pharmaceutical companies have…
CBE keeps EGP unchanged vs dollar, contradicts flotation forecasts
The Central Bank of Egypt (CBE) kept the local currency’s rate stable at EGP 8.78 against the US dollar at…