Increase in deposit rates at Crédit Agricole by end of Q1: Beltone
Gradual increase in financing imports and exports, thanks to currency availability following flotation
Hossam Mounir
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Latest by Hossam Mounir
CBE considers making amendments to the SMEs initiative
Regular meetings in FEB to look into the problems facing banks during initiative implementation, taking suggestions, according to prominent banker
CBE sets controls for its initiative to renovate tourism sector
Banks finance 75% of total replacement and renovation cost, clients bear the remaining amount
Strong fluctuations of pound against the dollar over the upcoming period
The dollar’s rate ranging between EGP 14 and EGP 15.5 achieves the required balance, further decline will not serve the state’s interests, says Abdel Aal
EGP 16bn volume of deals implemented by Abu Dhabi Islamic Capital-Egypt since 2012
The company receives an international award for its role in marketing EGP 2bn worth of funds for the EETC
Benha Electronic Industries supplies 62 metal detectors to NBE
The National Bank of Egypt (NBE) signed a contract agreement with one of the Ministry of Military Production’s subsidiaries, Benha Electronic Industries, to supply 62 metal detector gates to the bank. The contract was signed by the chairperson of the company, Magdy Hamdeen, and Hossam Salah Eldeen, the head of administrative support at the NBE. …
67.4% increase in total collected foreign exchange in 2015/2016: CAPMAS
Total proceeds of foreign exchange amounted to EGP 1.5088tn 2015/2016, compared to EGP 901.5bn in 2014/2015—an increase of 67.4%—according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) recent annual bulletin on collection and payment of foreign exchange in 2015/2016. CAPMAS attributed the increase to increased receipts from goods exports and private transfers without …
6,200km increase in paved road network in 2015/2016
CAPMAS records increases between 2.4% and 9.1% in paved roads throughout the various authorities
PAYFORT announces new partnership with Amadeus
The partnership aims to simplify online payments for the region’s travel industry
Al-Assar demonstrates abilities of defence equipment to Emirati and Russian officials during his participation in IDEX 2017
The Ministry of Military Production aims to deepen cooperation with the UAE and Russia
Revenues of investment land sales in the administrative capital’s first phase at EGP 20bn: estimate
Average offering price is EGP 3,500 per metre, comparable to other similar areas and those close to the capital’s location, says Soliman
Dollar continues decline, expected to stand at EGP 16 in short term
The price of the pound against the dollar will reach equilibrium in the fourth quarter of 2017: Youssef
Inflation hike is temporary, expected to decline in the coming period, hence interest rate kept unchanged: MPC
CBE raised the interest rate by 3% on 3 November 2016 as prelude to hiking inflation
$1.12bn offered for investment in T-bills
CBE received 33 offers, accepted 29 worth $1.09bn, with an interest average of 3.62%
International bonds raised Egypt balances to $11.5bn by end of January 2017: Ministry of Finance
Bond maturities range between 1 to 30 years, and to be due from June 2017 until January 2047
Assigning implementation of New Administrative Capital to Egyptian companies falls in favour of banks in Egypt: Abdellah
Banks are required to facilitate procedures for those companies to obtain letters of guarantee and necessary funds
CIB supports entrepreneurs in cooperation with AUC
AUC V-Lab celebrates the graduation of the first cycle of FinTech Accelerator
EBRD lends NBD–Egypt $125m to support its capital base and stimulate growth
Emirates NBD-Egypt and the European Bank for Reconstruction and Development (EBRD) signed an agreement for a $125m subordinated loan to augment Emirates NBD Egypt’s capital base and support its growth strategy aimed at becoming a leading private sector bank in Egypt. The subordinated loan qualifies as a tier 2 capital as per the recently modified …
NBE injected EGP 7.5bn to finance 9,200 SMEs in first year of CBE’s initiative to support these projects
77% of SMEs obtained loans to expand its existing activities and 23% to newly established projects
Improving clarity on FX supply and demand dynamics should steadily encourage foreign investors to leverage lucrative interest differential: HC S&I
Slower private consumption and investment growth in the short term to be largely offset by an improved net import position
Ministry of Military Production participates in IDEX 2017 with a number of military products
The Ministry of Military Production is set to take part in the 13th round of the International Defence Exhibition and Conference (IDEX) 2017 held in Abu Dhabi, UAE, between 19 and 23 February. This would be the first time for the ministry to participate in the exhibition with a number of its products manufactured by …
1.6% decrease in index of manufacturing during December 2016: CAPMAS
The index of manufacturing—not including crude oil and petroleum products—declined to 138.69 during December 2016 (primary), compared to 141.00 during November 2016 (final), registering a decrease of 1.6%. A recent report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) on the metadata of the production index of manufacturing and extractive industries for …
CAPMAS starts general census of population, housing, establishments at initial cost of EGP 800m
The census provides all the statistical data for policy makers and decision makers to set future plans appropriate for all segments of society
Al-Sisi issues decree to establish National Council for Payments under his chairmanship
Council membership includes prime minister, CBE governor, ministers, and regulatory body representatives
Banks experiencing significant disposal operations of foreign currency; dollar registers lowest level since November 2016
Significant decline in Arab and foreign currencies traded in domestic market due to decline in dollar prices
Strong expectations to keep interest rate unchanged during CBE’s MPC on Thursday, despite inflation hikes
Raising interest rates will not curb inflation caused by flotation and shortage, say analysts
3.9 % decrease of irrigation water used in agriculture in 2015
The amount of irrigation water used for agriculture reached 36.75bn cubic metres in 2015, compared to 38.26bn cubic metres in 2014, a decrease of 3.9%. The Central Agency for Public Mobilization and Statistics (CAPMAS) issued its annual bulletin on Irrigation and Water Resource statistics in 2015 on Tuesday, showing a decreased amount of irrigation water …
Pound continues strengthening against USD, expected to settle below EGP 17 to the dollar within days
Significant increase in hard cash supply as foreigners invest in government debt instruments
Ministry of Military Production considers establishment of permanent exhibition of its products in Khartoum
The ministry aims to open foreign markets for their products, encourage Egyptian production exports to support state’s economy, and provide hard currency, says Al-Assar
22% increase in the number of subscribers in broadband internet in 2016: CAPMAS
The total number of subscribers in broadband internet stood at 4.05 million in April 2016, up from 3.32 million in April 2015, marking an increase of 21.99%. This was due to a decrease in service prices, according to a report issued on Monday by the Central Agency for Public Mobilization and Statistics (CAPMAS) on the …