Egypt reports 6.1% decrease in imports from US during 2020: CAPMAS
Egyptian imports from US reach $4693.5m in 2020
Hossam Mounir
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Latest by Hossam Mounir
Egypt allocates EGP 1.1bn to finance microenterprises: Trade Minister
Volume of funding for projects increased to EGP 500,000, giving priority to villages targeted by ‘Decent Life’ initiative
Egypt’s Agriculture Ministry to pump further EGP 323m into veal project
New funds will benefit 2,350 small breeders, young graduates to purchase 22,000 head of livestock
Arab Banking Corporation offers to acquire BLOM Bank – Egypt
ABC wants to buy up to 300 million shares of BLOM Bank at EGP 22.33 per share
Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt
Continued rollout, development of vaccines is expected to support global economic recovery
Egypt’s Central Bank issues guiding principles for sustainable financing
Principles are important step in supporting Egypt’s development efforts, plans to achieve sustainable growth
Egypt’s Trade Minister highlights integrated technical services of ‘Decent Life’ initiative
Nevine Gamea, Egypt’s Minister of Trade and Industry and CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), has highlighted the “Decent Life” initiative’s integrated technical services. Gamea also highlighted that these services are being provided to citizens in the initiative’s targeted villages to develop their skills and abilities and to help them …
Egypt’s inflation to hover around midpoint of target 7% in Q4 of 2022: Central Bank
Monetary Policy Committee’s decisions regarding interest rate have been appropriate, consistent with achieving target inflation of 7% (±2) on average by 2020 end
HSBC named Best Investment Bank in Egypt by Euromoney
HSBC has been named as the Best Investment Bank in Egypt at the 2021 Euromoney Middle East Awards for Excellence. The bank collected a total of five awards, including the Middle East’s Best Bank for Sustainable Finance and the Middle East’s Best Bank for Transaction Services. It was also named the Best Investment Bank in …
Egypt’s SME Development Agency to finance 400 micro-projects with EGP 2m in Aswan
Agency has financed about 2,370 micro-projects worth EGP 40m in governorate, of which EGP 20.4m benefited citizens in villages under ‘Decent Life’ initiative
Egypt is strategic economic partner for France: Crédit Agricole Egypt MD
Credit Agricole is definitely well positioned to promote investment in Egypt, facilitate access of French investments to Egyptian market, says Jean-Pierre Trinelle
Central Bank of Egypt initiates EGP 100bn mortgage finance initiative for low, middle incomers
Initiative offers unprecedented facilities, 3% diminishing interest, and longest repayment period up to 30 years
Egypt sees 13.3% decrease in trade deficit during April 2021
Country’s trade deficit reaches $3.1bn in April 2021, against $3.5bn for April 2020
Central Bank of Egypt regulates commercial registration, documentation at banks
Step comes in light of strengthening cooperation between banking sector, ITDA, Notary Public
Egypt sees urban annual inflation rise to 4.9% at June 2021 end, against 4.8% in May: CAPMAS
Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the annual rate of urban inflation rose to 4.9% at the end of June 2021, compared to 4.8% in May. On a monthly basis, the country’s inflation in June was 0.2%, compared to 0.7% in May. In its monthly report issued on Thursday, …
Winners announced for C3 Social Impact Accelerator Program 2021 powered by HSBC
Egyptian start-up Baramoda wins top prize at regional competition
Egyptian Cure Bank donates EGP 54m to 65 hospitals, clinics nationwide
Bank inaugurates Intensive Care Unit at Minya University Hospital
EGP 53.774bn increase in local currency deposits at banks in Egypt during May 2021: CBE
Volume of term deposits, proceeds of savings certificates in foreign currencies increased to EGP 503.085bn
Egyptian government to depend less on local market in budget deficit finance
Debt instruments worth EGP 587bn offered during Q1 2021/22, compared to EGP 644.5bn in Q4 of 2020/21: Ministry of Finance
CIB opens subscription for first green bond issuance in Egyptian market
IFC aims to subscribe to entire value of issuance, estimated at $100m
Egypt records $1.8bn balance of payments surplus in 9M FY 2021
This is compared to $5.1bn deficit last FY in wake of COVID-19 pandemic
Foreign investments in Egypt’s T-bills up to EGP 349.9bn in May 2021: CBE
Net foreign assets increased by EGP 150.2bn from July 2020 to April 2021
Financial positions of banks in Egypt rise by EGP 532bn in Q1 of 2021: CBE
Capital at banks amounts to EGP 177.92bn, reserves register EGP 347.826bn, provisions score EGP 165.588bn
Egypt injects EGP 32.3bn into 1.4 million small, micro projects over 7 years
Egypt’s SMEs Development Agency also provides over 400k services through its 33 branches nationwide
Net profits of banks in Egypt reach EGP 29.99bn in Q1 2021: CBE
Top 10 banks account for 87.84% of total profits recorded during Q1
Central Bank of Egypt extends precautionary measures against COVID-19 to 2021 end
This will see the precautions in place until 31 December 2021, rather than 1 July.
Egypt’s annual unemployment remains unchanged at 7.9% in 2020
Country’s workforce was estimated at 28.458 million people in 2020
Egypt’s Economic Ministerial Committee discusses measures to advance industry
New incentives will be offered for industries with high, local technological components
Egypt’s Economic Ministerial Committee discusses measures to advance industry
New incentives will be offered for industries with high, local technological components
Egypt’s Cabinet reviews Central Bank initiatives to support economic sectors
CBE serves as compass directing Egypt’s banking sector since COVID-19 outbreak, says PM Madbouly