Latest in Tag: CBE Highlight
Latest in Tag: CBE
Emerging markets experience sharpest capital outflow in March since 2008: CBE
Monetary and fiscal stimulus policies, structural reforms cushion negative consequences of coronavirus on most vulnerable, supports economic recovery once pandemic contained
Annual core inflation slows to 1.5% in May: CBE
Last month’s inflation reading below expectations, so interest rates may remain fixed until end of 2020, Pharos expects
CBE receives 26 offers to invest $720m in T-Bills auction
The CBE accepted 20 offers worth a total of $509.3m, with interest ranging between 3.42% as the lowest price, 3.45% as the highest price, and 3.446% as an average. This compared to 3.47% as the lowest price and 3.5% as the highest price, and 3.495% as an average in the last similar bid in May.
CBE offers $500m worth T-Bills on Monday
Proceeds to cover a previous offer worth $715m issued on 11 June 2019
US dollar continues appreciation against EGP: CBE
The appreciation in the US dollar also pushed the prices of Arab and foreign currencies up against the pound, as the price of the Euro reached EGP 18.1449 to buy and EGP 18.2605 to sell. The price of the Pound Sterling reached EGP 20.2588 to buy and EGP 20.3794 to sell.
Local currency deposits in banks rise by EGP 41bn in April
CBE figures also show decrease in surplus of net foreign assets for second consecutive month
US dollar appreciates slightly to EGP 15.92 at CBE
The Swiss franc reached EGP 16.5466 for buying and EGP 16.6522 for selling. The Japanese yen recorded EGP 14.7044 for buying and EGP 14.8035 for selling.
CBE to offer EGP 24.5bn worth T-Bills, bonds on Sunday
New offerings part of government’s plan to issue EGP 610bn T-Bills, bonds until end June
CBE offers EGP 20bn in T-Bills as market awaits Finance Ministry move
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
CBE issues EGP 100bn stimulation for private sector borrowing: Amer
Initiatives are to help Egypt’s economy overcome ongoing pandemic
April inflation increased due to unfavourable base effects: CBE
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE takes measures to reduce economic impacts of COVID-19
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
CBE expands EGP 100bn initiative to contracting companies
The initiative had initially been set up to provide finance to private sector companies in the manufacturing and agriculture sectors with sales of EGP 50m.
Cairo Chamber of Commerce calls for adding commercial, service sectors in CBE’s 5% interest loans
Move is to protect commercial sector and allow it to fulfil obligations
HC expects CBE to preserve current rates at upcoming meeting
Doss added, “Less working hours have also disrupted production activity possibly leading to relative supply shortages of some goods also posing inflationary pressures.”
CBE considers engaging contracting sector in EGP 100bn initiative
Abdel Raouf added that attention must be paid to distributing the funds equally to all contracting sectors companies, regardless of their size.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted
CBE offers $800m in 1-year treasury bills on Monday
Proceeds cover a previous tender, worth $1bn, offered in May 2019
ECMA seeks CBE support for brokerage companies amid COVID-19 fallout
HC Securities adopts cost reduction policy, focuses on online transactions
CBE highlights financial soundness indicators of local banking sector
Bank profits reach EGP 83.184bn last December: CBE
CBE highlights banks’ financial safety indicators
Bank profits reached EGP 83.184bn at end of December: CBE
Egypt’s banks report EGP 83.18bn net profits in 2019: CBE
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
FEC urges CBE to reconsider cash withdrawal limit for companies
Instead, Berzi suggested that companies should no longer have these limits, since many conduct their financial transactions in cash.
CBE issues new controls on loan instalment postponement
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
January, February remittances increase by $1.3bn
The rise in remittances from workers abroad shows an increase rate of 33.6%, bringing the total amount of remittances in the first two months of the year to about $5.2bn. The latest figures compare to the roughly $3.9bn in remittances reported during the same two months last year.
Egypt’s annual core inflation on hold at 1.9% in March: CBE
The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.
Egypt’s net international reserves retreat to $40bn in March amid global shocks
Bank directs $5.4bn to cover local hard currency needs, bridge gap from foreign investment decline
CBE abolishes black lists, allows irregular customers dealings with banks
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision