Egypt’s government, CBE prepare to launch manufacturing support initiative
The initiative is expected to be announced next Wednesday
Hossam Mounir
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HSBC Egypt launches Mobile Collections service to help businesses transition to digital economy
The launch of mobile collections represents a first for HSBC-Middle East, says Blanchet
Five banks to begin collecting mortgage finance instalments electronically amid CBE initiative
277,000 customers in 15 banks and eight mortgage finance companies are to benefit from the service when fully implemented
Why CBE Governor Tarek Amer was selected to serve another 4-year term?
CBE under Amer succeeded in managing the files of monetary policy and exchange market, which reflected positively on the performance of the national economy as a whole, say bankers
BM signs a loan agreement with the EIB worth € 500m to finance SMEs
Banque Misr’s portfolio of SMEs reaches EGP 26bn by the end of September 2019
CBE Governor Tarek Amer to remain in office until 2023
Amer, whose term ends this week, was appointed in 2015, succeeding former governor Hisham Ramez.
Trade volume between Egypt-Nile Basin countries in 2018 reach $1.872bn
15.1% increase in Egyptian exports to Sahel and Sahara countries to record $3.136bn
Banque du Caire inaugurates two business development centres within Nile Pioneers initiative
The bank aims to open more centres to expand MSMEs’ services across the country, says Fayed
CBE selects EFG Hermes-Evercore alliance as advisor for United Bank’s equity stake offering
According to the CBE’s Sunday statement, they selected the duo out of five investment banks that were bidding for the role.
43 investors offer to invest $1.721bn in Egyptian T-Bills auction
CBE accepts $1.56bn worth offers from 33 investors for Egyptian T-Bills with interests ranging between 3.55-3.6%
Winners and losers of CBE’s interest rate cut
Government, investors, and EGX are the most beneficiaries from the decision, while bank depositors are the most harmed
Credit Agricole reports EGP 1.8bn profit in 9M of 2019
The deposit portfolio stood at EGP 41.1bn, while the loan-to-deposit ratio was 57.1%, with total equity reaching EGP 6.6bn.
Forbes lists CIB among the top 500 companies in the world
The bank ranked 90th in the world this year, based on 1.4 million employment recommendations from a global survey and regional surveys.
CBE to offer $1.56bn worth T-Bills in auction Monday
The proceeds of this issuance will be directed to repay the earlier T-Bills issuance launched by the CBE on 19 November 2018, valued at $1.703bn.
Emirates NBD-Egypt, Marakez offers EGP 395m loan for new IKEA store
This step reflects the bank’s efforts in supporting the Egyptian economy, says Azab
Local, foreign financial institutions offer to invest €851.5m in Egyptian T-Bills
The CBE has issued a 364-day T-Bills auction worth €695m, due on 10 November 2020. Later, the CBE said it received 49 offers worth €851.5m from local and foreign financial institutions to invest in the auction, of which 36 bids worth €695m were accepted.
Egypt’s net foreign reserves rise by $128m to $45.247bn in October
It’s the highest foreign exchange reserves in Egypt’s history, covering more than eight months of commodity imports.
Issuance of executive regulation for e-payments law within weeks: CBE
Banks issued 3.5m Meeza cards until end-October, says CBE Deputy Governor
ATAA Charitable Fund for the disabled targets EGP 200m in 1st phase of subscription
Minister of Social Solidarity announces opening subscription on Tuesday
Remittances from Egyptian expats rose to $4.4bn in July and August: CBE
Remittances of Egyptians working abroad are one of Egypt’s most important foreign exchange resources.
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s foreign trade increases to $95bn in FY 2018/19: CBE
Egypt’s imports scored $66.529bn, while exports reached $28.495bn between July 2018 and June 2019
Three-year anniversary of Egypt’s free floating exchange
FX reserves up by $25.618bn, exchange rate and inflation fall, and public debt rises
CIB honours winners of PSA Women’s World Championship, Egyptian Squash Open
For the first time in the history of the game, the total women’s tournament awards reached $430,000, higher than its counterpart for men, which totalled $185,000.
NBE rules out issuing foreign bonds currently
Dealing with financial institutions is better and cheaper than bonds, says Aboul Fotouh
Egypt’s external debt jumps to $108.bn end-June: CBE
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
MSMEDA participates in Financing SMEs and Strat-ups Forum in Jordan
Authority has financed 545,000 small and micro projects, creating 850,000 jobs in last two years, says Gamea
Raya Holding executes first EGP 500m securitisation
Company aims to establish another securitisation process of EGP 700m, says Hossam Hussein
US dollar records lowest level against EGP since March 2017
US currency lost 13 piasters of its value in October, totalling 178 piasters decline since beginning of 2019
IDB targets over EGP 0.5bn profits by end-2019: chairperson
We aim to achieve 30-35% growth in various activities this year, says Fahmy