3158 Articles
The Ministry of Military Production signed on Wednesday five cooperation protocols with the Ministry of Higher Education and Scientific Research, as well as a number of scientific institutions, and technical training centres in the engineering faculties of Cairo and Ain Shams universities, with the aim of encouraging local manufacturing. Minister of Military Production Mohamed Al-Assar …
NBE’s proceeds reached $2.2bn since 3 November 2016, while savings certificates with 16-20% of interest collected more than $182bn, according to NBE vice president Abu ElFotouh
According to a recent report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS), on production movement, foreign trade, and availability of agriculture commodities for consumption in 2015, the average consumption per capita of wheat reached 141.1 kg in 2015 versus 133.6 kg in 2014, an increase of 5.6% with a self-sufficiency rate …
The bank granted over 1.5m loans to owners of micro enterprises with a total value of about EGP 11bn, says El-Zahid
Supporting the bank’s capital is meant to support its ability to expand in various sectors and expand its role as a prelude to selling it
Recent CBE reports explain inflation hitting 25% at end of December 2016
Net profit increased to EGP 4.203m, up by 32% y-o-y
Daker Abdellah, member of the board of directors of the Egyptian Federation for Construction and Building Contractors (EFCBC), called upon banks to review and reconsider the position of construction companies that have been seeking letters of guarantee, highlighting the necessity of considering the companies’ memberships in the EFCBC. Abdellah explained that the past period witnessed …
Direction of interest rate depends on inflation and government strategy, say analysts
The United Bank requested the Egyptian House of Representatives to lift immunity off member of parliament Khaled Beshr to take legal action against him in order to collect his debt worth EGP 32.03m. The bank said in its request to the parliament that Beshr had obtained several credit facilities for several years, which resulted in …
I am currently restructuring the funding department in accordance with newest international banking system, says Kashmiri
We are serious in providing banking and technical support for SMEs, says Elkady
The Helwan Company for Metallic Appliances of the Ministry of Military Production is set to introduce its latest Helwan 360 refrigerator by the end of the week. This comes out of the ministry’s keenness to encourage local manufacturing and contribute to limiting imports in order to save hard cash. The refrigerators and deep freezers production …
Three offerings in Berlin stock exchange on 10 November worth $4bn with a yield between 4.622% and 7%, repaid from 10 December 2017 to 10 November 2028
The manufacturing index (without crude oil and petroleum products) increased to 140.46 during November 2016, compared to 124.99 in October, registering an increase of 12.4%. A recent report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) on the metadata of the production index for manufacturing and extractive industries for November attributed the …
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes
Egyptian exports declined by 13.9% compared to imports that increased by approximately 8.7% in 2015, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The CAPMAS issued on Wednesday the annual bulletin of foreign trade 2015, which stated that Egypt’s total exports amounted to EGP 168.08bn in 2015, compared to EGP 195.28bn in …
Military Production Ministry to administrate ration system by end of January, says Al-Assar
The share of the largest five banks of total deposits reaches 58.9%; government banks are at the top
Exchange rate gaps must be calculated quickly to spare construction companies losses, says Hassanein
The Housing & Development Bank is currently conducting a lottery for social housing land in 10th of Ramadan City from 9-26 January 2017. The bank had previously conducted a public lottery in cooperation with the New Urban Communities Authority (NUCA) from 17-29 November on lands located in 15th of May City, Obour City, New Cairo, …
Sectors include transportation, logistics, construction, industry, food, and commodities
We aim to reach 100 branches by the end of 2018, Sebaey says
The bank is preparing to launch mVISA service for the first time in the Egyptian market
The bank signed a memorandum of understanding with the General Authority for the SCZone to be present in the region and offer investors there support
The five largest banks acquire 44.32% of total profits, 42% of total revenues
The private sector acquired 70% of total loans offered by banks to clients, loans to deposits ratio recorded 44.2%
Ministry of Finance intends to borrow EGP 299.019bn from banks in Q1 FY2017
The private sector accounted for 59.6% of the total of these facilities and the industrial sector tops economic sectors supported by banks
Egypt’s foreign debts have jumped to $60.15bn during the first quarter (Q1) of the fiscal year (FY) 2016/2017, compared to $55.76bn during Q4 FY 2015/2016, with an increase of $4.3bn, according to the Central Bank of Egypt (CBE). The CBE explained in a report issued on Thursday that long-term deposits increased during Q1 of this …
