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On 15 May, Standard and Poor’s revised its outlook on Egypt, raising it from stable to positive
Regulations offered to facilitate application of property tax law
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
The CBE also kept the discount rate unchanged at 9.25%.
This is the second growth fund launched by the bank
Total assets increased by 20%, registering over EGP 24.3bn
Ministry of Finance has supported white taxi project with EGP 1.5bn since 2009
The Central Bank of Egypt gave no instructions to lenders operating in the country not to replace $100 notes with smaller units when conducting transactions for clients, several bankers told the Daily News Egypt. This comes on the wake of reports carried by media outlets claiming that the CBE has ordered banks to replace $100 …
Global Swiss bank expressed desire to participate in marketing Conference’s investment projects
Banks allow use of applications by clients and non-clients to check accounts, keep track of exchange rates and currency conversion
CBE placed ceiling deposit of $10,000 per day and $50,000 per month
Lower demand contributed to output, the bank stated
Bank Misr, Crédit Agricole, Banque Misr also among market leaders for treasury bills and bonds
Two gunmen on a motorcycle opened fire on the policemen, who were guarding the HSBC and Union National Bank branches in Sphinx square in Mohandesin, Giza.
Vice president denies 9 banks have offered purchase
A policeman was killed and another injured in a drive by shooting in Giza Saturday morning, according to state news agency MENA. The attackers escaped. Two gunmen on a motorcycle attacked and opened fire on policemen guarding HSBC and Union National banks branched in Sphinx square in Mohandesin, Giza. The attacks resulted in the killing …
Decline mainly due to the repayment of accrued deposits to Qatar, claims economist
The value of the first instalment is estimated to be approximately EGP 1.9m
Daily transaction rate has gone up from 1,000 per day by the end of 2009 to over 1m, says CPIO
Al-Sisi to promote political, economic, and legislative changes in year-end foreign tour
CIB Q3 net profit rises 5.6% Egypt’s leading bank, Commercial International Bank (CIB), reported a 5.6% rise in the third quarter (Q3) net profit. The bank added that the net profit stood at approximately EGP 972m, up from EGP 920.4m in the same quarter last year. Q3 consolidated revenues were EGP 2.04bn, up 17% from …
Awards confirm their position as a “reference private bank”, say Wealth Management co-CEOs
Expansion brings bank’s total number of ATMs to 286 across the country
Egyptian banks set aside 2% of profits for 2012 to develop slums in different areas across Egypt
Investment bank EFG Hermes makes EGP 20m donation to the fund
Following the presidential approval of the Suez Canal investment certificate law, protocol to be signed between CBE, four public banks and the Suez Canal Authority
Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks
$0.5bn repaid to Qatar at beginning of October, said Hisham Ramez
The Daily News Egypt defines what credit cards are, analyses their presence in Egypt and interviews several experts on the matter.