Latest in Tag: CBE Highlight
Latest in Tag: CBE
Foreign reserves fall $200m
International foreign currency reserves record $17.28bn in May, down from $17.48bn in April
Domestic liquidity increases to EGP 1.44tn: CBE
Increase of net domestic and foreign assets in banking system contribute to a 11% increase in domestic liquidity, according to central bank report
Private business accounts for 63.2% of credit facilities end of March: CBE report
Central bank announces 2.6% increase in total credit facilities
Bank loan assets increase by EGP 7bn in March: CBE
Bank balances in March rose to EGP 559.444bn as compared to EGP 553.464bn in February and EGP 546.228bn in December of last year.
Bank of America expects continued EGP depreciation
EGP value against dollar slumps after CBE’s foreign exchange auction to record EGP 7.14 comparing to EGP 7.083 before the auction
MENA monetary policy is expansionary and will remain so: Emirates NBD
Egypt’s credit grew 20.7% year on year in January
Loan assets in banks increased by EGP 3.6bn in February: CBE
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
Minister of Planning in Athens to discuss EIB’s Mediterranean investment strategy
To date, Egypt has received €6bn for the European Investment Bank
Egypt covers all dollar backlogs for foreign investor repatriations
In a push to restore confidence in the economy, authorities opened a repatriation scheme in March 2013 guaranteeing foreign investors in Egyptian stock and government bond markets access to dollars despite the severe shortages of the US currency.
Egyptian banks to bid 8,000 housing units: Minister of Housing
Mostafa Madbouly coordinates with Egyptian banks to enact the central banks initiative to aid low-middle income individuals.
Total non-CBE banking sector deposits reach EGP 1.26tn: CBE
The report added that total non-government deposits rose during November to reach around EGP 1.115tn, compared to EGP 1.09tn in the previous month.
Central Bank of Egypt earmarks $1.44bn for low-cost housing
Reuters – Egypt’s central bank said on Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects, one of the demands in protests that led to the ouster of autocratic President Hosni Mubarak in 2011. Better living conditions, an end to official corruption and more democratic rights figured prominently in those protests. About half …
Banknotes issuance increased by EGP 56.7bn in 2012/2013 FY
Government expenditure policies exacerbated budget deficit and increased demand for cash needed in circulation, CBE says
Foreign reserves up for the first time since August
Net international foreign reserves register $17.105bn in January
CBE offers up $1.5bn to banks in exceptional auction
Auction aims to support banks and their role in domestic economy, central bank says
CBE leaves key overnight rates on hold
Reuters – Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday, as the government tries to stimulate the economy while keeping inflation in check. Egypt’s economy has been battered by three years of political instability since a popular uprising ousted autocrat Hosni Mubarak in 2011, causing tourists and …
Egypt has repaid $700m to Paris Club: CBE
The Paris Club is comprised of 19 developed economies.
Ministry of Health announces state of emergency after freezing assets of NGOs
The ministry says it is able to compensate for halted NGO health services
Egypt’s debt in Focus
Egypt has diversified debt instruments, but still has the same creditors
Interest rate sharply reduced but the government’s options remain limited
The government is ignoring Sukuk and depending on Arabs to meet urgent needs
CBE extends assistance to tourism investors
The CBE announced that it will extend the “Support Tourism” initiative until December 2014
Egypt’s Bank Profits To Be Flat In 2013 – C.Bank Official
The main driver was banks’ heavy investment in government T-bills and bonds, whose yields jumped because of the state’s worsening financial position in the wake of the February 2011 revolution which ousted President Hosni Mubarak.
Annual inflation reached 11.15% in October: CAPMAS
The urban consumer inflation rate rose to 10.4% in October
Central Bank economically reflects on Egypt’s BOP
Central Bank of Egypt: current account deficit retreated by 45% to reach $ 5.6bn from $10bn
Central Bank of Egypt sells $1.3bn in its first exceptional auction
CBE set to hold an exceptional dollar auction of $1.3bn on Wednesday for banks in attempt to cover clien’’s outstanding import needs
Central bank denies freezing deposits
Bank: “Rumours aim to destroy the confidence in the stability and safety of the country’s economy”
Central Bank of Egypt: Normal working hours to begin Monday
All banks are to remain open to receive clients between the 8.30am and 2pm, with employees required to stay until 3pm.
IMF waiting for the “right time” for loan negotiations
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
Saudi deposit arrives to the Central Bank of Egypt
In a sign of support to Egypt’s economy, which continues to reel from more than two years of unrest, Gulf states have pledged $12bn aid
UAE delegation visits Egypt in days to discuss aid terms
An Egyptian delegation from the Ministry of Petroleum and Mineral Resources presented to an Emirati delegation that visited Egypt earlier this month a list of requests, set to include fuel products worth $500mn.
UAE’s $3bn in aid arrives to Egypt
Central Bank Governor Hisham Ramez said that $2bn of Saudi Arabia’s $5bn in aid is expected to arrive shortly in the form of an interest-free deposit at the bank.