Egyptian Banking Institute to sponsor fintech incubator in Egyptian university within next months
Latest by Mohamed Samir
CIB’s consolidated net income grows by 23% to EGP 11.8bn in 2019, proposes EGP 1.25 dividends per share
Virus death toll in China rise to 170, first coronavirus case confirmed in India
Palestinian politicians call for ditching Oslo Accords, establishing Palestinian state
Weak global growth to curb benefits of reforms in Morocco, Egypt, Tunisia, and Jordan
The frontline politician is now responsible for planning, economic development portfolios, along with being chairperson of Egypt’s SWF
American farmers to be main beneficiaries, phase-two will be after the 2020 US presidential election
The mission decides to serve as representatives for Libyan House of Representatives and LAAF
Moreover, the cabinet approved the establishment of a special unit to look into citizenship by investment applications.
ILO report indicates that one child out of five are working in Africa
Egypt will offer 22% to 25% of the shares in HHD in 1Q 2020, says Hesham Tawfik
For the first time, The American University in Cairo (AUC) will be the main partner and host of RiseUp Summit, the one-stop-shop event connecting startups in the Middle East and Africa. In its seventh edition, RiseUp will host the region’s top entrepreneurs, startups, investors, and creative masterminds in a three-day entrepreneurial marathon at AUC New …
He added that increasing the private sector’s involvement in the Egyptian economy is very important, explaining that this can be stimulated through providing investment incentives.
Banking sector represent 89.8% of total financial system assets, says CIB-Egypt chairperson
During his speech at the conference, he added that there are some mistakes that Egypt has to avoid such as terminating the economic reforms, stating that Egypt has begun its economic reforms in the 70s and stopped after the 1977 bread riots.
About 36% of Egypt’s imports are production inputs, says Nassar
MedaWeek Barcelona 2019 will host a new edition of the New Africa Business Development Forum
Aramco will release its IPO prospectus on 9 November
Delek Drilling and Noble Energy, Dolphinus JV to acquire 39% stake in the pipeline
CBE likely to cut policy rates further in 4Q19
Company hopes it will replace flying, allow elderly and those with disabilities to fully participate in society
Since the beginning of this year, Egypt’s iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued a resolution in April, imposing a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days ending in October.
The problem is that climate change economic impact took its toll on poorer countries. Oxfam, a globally renowned aid and development charity, estimates that between 1998 and 2017, low-income countries reported climate-related disaster losses of $21bn, or an average of 1.8% of GDP.
Banking act may spur a wave of consolidation amongst smaller or undercapitalised banks
Exports from Leviathan to start 1 January 2020, from Tamar to start on 30 June 2020
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Competitiveness concerns should not preclude carbon pricing or emission targets to Paris Agreement levels, namely $40–$80/tCO2e by 2020 and $50–$100/tCO2e by 2030
CIB hikes by 5% and Eastern Company by 4.7%
The Gold Coffin of Nedjemankh was stolen from the Minya region of Egypt in the aftermath of the Egyptian Revolution in October 2011.
On Sunday, EGX indexes bled heavily amid intense selling by Egyptians leading to market losses of EGP 31.5bn