Latest in Tag: CBE Highlight
Latest in Tag: CBE
$6bn in Gulf deposits temporarily eases Egypt’s economic burdens
Analysts say GCC deposits beef-up foreign reserves and boost local currency
CBE reduces commission of credit letters to facilitate imports
Egypt’s imports face decrease, suffer from dollar shortage, says Chief of Importers Division
CBE maintains key interest rates
The CBE also kept the discount rate unchanged at 9.25%.
Only government has solutions: Moustafa Hussien
Dollar crisis hampers automotive market completely
EFI, CBE meeting on cashless society proposal postponed
Draft law will help stabilise Egyptian economy and organise market and economic procedures, says EFI head
IMF Middle East and Central Asia director welcomes CBE dollar policy
The IMF is alert to the formation of growth and relating it to work and life standards, without merely looking into the total figures
Egypt yet to receive Arab deposits: CBE governor
Hisham Ramez’s comments to Reuters come in wake of reports alleging receipt of Kuwait’s $2bn in deposits
Annual inflation jumps to 11.8% in March
CAPMAS attributed the rise to increase in food commodities’ and beverage products’ prices by 9.3%
Arab Fund loans Egypt $216m for power station
Egyptian minister of international cooperation held meetings in Kuwait, in framework of the annual meetings held by Arab financial institutions
Foreign reserves record $15.29bn end of March
The reserves figure remained within the same range since the beginning of 2015
Local banks deny restrictions on providing $100 notes
The Central Bank of Egypt gave no instructions to lenders operating in the country not to replace $100 notes with smaller units when conducting transactions for clients, several bankers told the Daily News Egypt. This comes on the wake of reports carried by media outlets claiming that the CBE has ordered banks to replace $100 …
CBE sells $281m Sunday, instead of usual $40m to banks
This Sunday and 1 March saw larger than usual amounts supplied to banks, CBE sells $420m at beginning of March in interbank market
External debt decreases by 10.3% in December: CBE
Decrease due to repaying facilities and loans, as well as fall back on value of most currencies of borrowing versus US dollar
Banks need to meet SMEs needs: CBE Deputy Governor
Financial innovation by introducing new financial instruments that meet consumers ‘and investors’ needs enhances Egypt’s economic competitiveness, Mona El-Baradei
Banque Misr registers highest net profit in its history
Bank assets to reach EGP 15bn after the approval it received from the CBE
CBE halts Egyptian automotive market
Most companies working in the automotive sector confirmed fears that if the situation continues will lead to a new and unprecedented disaster for the automotive sector.
CBE cuts margin to trade US dollar with local lenders
Step seen to further throttle waning black market
Industrial sector in ‘state of crisis’, solutions for energy problem, regaining confidence of international markets is necessary: Alaa Arafa
Alaa Arafa, chairman of Egypt’s largest textile and clothing manufacturer and retail stores Arafa Holding, said Egypt’s industrial sector is still suffering and is in a state of crisis. He added that it needs to overcome the obstacles, asserting that the CBE’s gradual reduction of the Egyptian Pound will contribute to encouraging industry more …
Orders from Emir of Kuwait to immediately deposit $2bn at CBE: Kuwaiti Finance Minister
Kuwaiti Minister of Finance Anas Khalid Al-Saleh said that he received orders from the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, to immediately begin depositing $2bn at the Central Bank of Egypt (CBE). On the first day of the Economic Summit in Sharm El-Sheikh, the Emir announced that Kuwait will provide an aid package …
Egypt raises $19.3bn on Summit’s 1st day
Total announced deposits from several GCC countries in the CBE valued at $5.25bn
Saudi Arabia, UAE, Kuwait strong backers of Egypt’s economy
Overview of Gulf aid to Egypt in the new era
International financing institutions strong backers of Egypt
International financing institutions confirm attendance to Egypt’s Economic Summit this month
A deal CBE to open an overdraft account in dollars to release imported goods: Mohamed Al-Suwaidi
The CBE needs to improve the way it deals with the dollar crisis
Foreign reserves records $15.45bn in February
International reserves have been revolving around the same value since December
Piraeus Bank Egypt to focus on energy projects financing
Piraeus Bank in Egypt is targeting the financing of major projects during the Economic Summit this month. Naira Amin, Chief Executive and Managing Director of Piraeus Bank Egypt, said the bank is giving special attention to joint finance projects proposed by the Egyptian government in the summit. Amin added that financing will be led by …
Government limits collection of value of commodities, services to EGP: Cabinet
Prohibition does not apply to tourists in Egypt, said Cabinet spokesperson
Devaluation of EGP is due to US pressure: Shiha
US dollar could be devaluated to EGP 6 or less with tight policies, says Medical Supplies Division head
NBE to grant credit for 640 housing units
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms
Tourism officials to request CBE governor exception from deposit limit: Ministry source
Egyptian Travel Agents Association and Egyptian chamber of hotels request exclusion from the deposit limit decision of $10,000 per day and $50,000 per month
CBE keeps ratings unchanged
Overnight deposit rate, overnight lending rate, main operations’ rate stand at 8.75%, 9.75% and 9.25%, respectively, bank said