IPO’s high committee will look into first phase next month: Tawfik
Phase included floating 23 companies in banking, chemicals, petroleum, insurance sectors
El Husseiny Hassan
23 Articles
Latest by El Husseiny Hassan
We will be supporting car industry in Egypt: EBRD
Car strategy will help attract foreign investors, says Lussny
Economic reforms seen as brave, stimulation of private sector, job creation remains crucial: head of KfW Development Bank Office Cairo
Daily News Egypt sat down for an interview with Burkhard Hinz, head of KfW Office Cairo of KfW Development Bank, to review his insights on such matters, and the bank’s evaluation of the economic situation.
IFC does not yet wish to sell its stake in AlexBank
International Finance Corporation (IFC), the World Bank Group’s investment arm, has shown no interest in selling its 9.25% stake in the Bank of Alexandria (AlexBank), a member of the Intesa Sanpaolo Group, up until now. Walid Labadi, IFC country manager for Egypt, Libya, and Yemen, said that the IFC will announce its intention to sell …
Barclays-Egypt to change brand name in November
The bank will implement a new strategy for geographical expansion within 5 years
Al Oula aims to inject EGP 350m within mortgage finance initiative
The company signed a financing contract with Heliopolis For Housing & Development of EGP 500m
CBE to remove dollar deposit limits over upcoming months: IMF
The fund’s board votes on the Egyptian economy’s first review within weeks
AfDB considers financing three solar energy projects in Egypt for $60m
The African Development Bank (AfDB) is considering financing three projects within the feed-in tariff programme in Benban, Aswan for $60m. A source at AfDB told Daily News Egypt that the bank has allocated $18m and $20m worth of finances for each project in the electricity production plant that depends on solar power. The source said …
Afreximbank signs loan to Banque Misr worth $200m next week
The African Export-Import Bank’s (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …
Pound flotation posed challenges for banks’ financial positions in 2016: Business News Index
SAIB, Audi, NBE recorded the lowest ratios of unregulated loans portfolios
EBRD is studying financing five feed-in tariff projects in its 2nd phase
Janet Heckman, managing director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD), said that the bank is currently studying to finance five projects in the second phase of the feed-in tariff projects starting from the second half of this year. Heckman told Daily News Egypt that …
AFREXIMBANK plans to increase its capital to $400m during 2017
The African Export–Import Bank (AFREXIMBANK) aims to increase its capital by $300-400m in 2017. The bank’s Manager, Banking Operations, Heba Aboul Ezz, noted that the bank’s capital was at $1.63bn in December 2016. She said that Egypt is a key partner in the bank, along with Egyptian banks, including the National Bank of Egypt, Banque …
Sukari gold mine production increases by 25.5% in 2016
The total sales of the mine reached 546,063 ounces in 2016
Foreign investments in treasury bills hike to EGP 7.8bn during November
Private banks’ investments in treasury bills increased by EGP 10.90bn during November
This year’s plan focuses on grants, raising demand on projects to 100%: Minister of International Cooperation
Development projects that received the funds will be inaugurated in 2017
Economic Affairs Committee to propose exchange bureaux be obliged to deposit US dollars at CBE for 5 years
There are 91 currency exchange companies, some of which own 20 branches, says MP El-Gohary
IMF deal will be credit-supportive, real GDP growth to average 3.4% from 2011 to 2020: Moody’s vice president
The devaluation of the Egyptian pound in March put upwards pressure on the already high inflation rate
Recovery of stock market depends on stabilising US dollar at EGP 12: Beltone Financial
Lack of integrated economic policy wasted the benefits of Egyptian pound’s devaluation
Government shrinks role of private sector, relies on itself to reform economy
Decline in private investments to 51% in the reform programme; government controls 53% of bank loans since beginning of the year
The CBE’s strategy to encircle imports failed to save dollars
Egypt’s economy is linked to a number of imported raw materials, says El-Desoki
Parliament approves state budget, refers it to State Council for legal review
The budget was approved with a total deficit of 9.8% and some amendments, says Kojak
Government reduces its investment forecast for private sector to EGP 292bn for next FY
Investors are facing challenges and we are working to fix them, says investment minister
Saudi-Egyptian meeting postponed to prepare for president’s speech before parliament
Prime Minister will visit Cairo Tuesday, International Cooperation Ministry is responsible for coordination meeting