Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Return on debt instruments hits 12-year high
Different reactions to interest rate, 2% raise in interest rate at CBE
CBE promotes 5 senior officials to deputy governorĀ
Ramy Abu al-Naga took over monetary markets and reserve management, Essmat Hussein for payment systems, Mai Abu al-Naga for controlling banks, Mohamed Ibrahim for internal internal auditing and Hany Omar for security sector
Package of negative implications pending after hiking interest rate
Financing of companies through non-bank financial markets amongst top beneficiaries
Interest rate hike will impose significant fiscal burden: economic experts
HSBC believes that the CBEās tightening cycle has peaked, Capital Economics forecast a 6% deposit rate fall by end of 2018
Egyptian pound fist to fist with US dollar yet again
Local currency began appreciating again by 21 piastres in four days, market awaits its trend until the end of the year
Pound strengthens due to market supply and demand mechanism: Amer
The CBE governor told the president that the bank didnāt intervene to support the local currency
Banks consider impact of CBEās decision to hike interest rates this week
CBEās decision aims to curb inflation and ease its impacts after moving fuel prices, purchasing power expected to increase, says Negm
Analysts expect CBE to keep interest rate unchanged after Thursday meeting
Seven out of nine analysts and investment banks expect CBE to keep current rates unchanged
Improved FC liquidity expected after removal of transfer limit: Fitch
A larger inflow from foreign investors is expected with their confidence restored in the Egyptian economy
Egypt pound under fire as CBE shifts to remove limits on foreign currency transfers
Companies getting ready to transfer their profits could weigh on the weak pound
Private industrial sector accounted for 62.4% of credit facilities granted by banks to non-government economic sectors at the end of March 2017: CBE
The industrial sector accounted for 36.5% of the total credit facilities granted by banks; services for 28.5%; trade for 10.5%; and agriculture for 1.1%
Egyptās top 5 banks accounted for 77.7% of total profits of banks operating in Egyptian market by end of March 2017: CBEĀ
Total profits amounted to EGP 30.516bn at the end of first quarter of 2017, top 10 banks mark profits of EGP 26.234bn
Nonperforming loans drop to 5.7% of total loans at banks by March end: CBE
Ratio of loans to deposits in local currency rose to 40.2%, ratio of loans to deposits in foreign currencies fell to 62.8% in March
CBE to remove dollar deposit limits over upcoming months: IMF
The fundās board votes on the Egyptian economyās first review within weeks
Lifting foreign exchange transfer constraints is a new message from CBE that Egypt overcame foreign currency crisis: experts
The decision boosts confidence in the Egyptian economy, contributes to attracting more foreign investment flows, Egyptians’ savings abroad, says Amer
CBE reveals foreign exchange status after flotationĀ
$8bn in remittances from Egyptian expats from November 2016 until the end of March 2017Ā
CBE likely to maintain current tight monetary stance to reduce inflationary pressures: IIF
Annual inflation rate to decline gradually to 18% by end of 2017, from about 30% in MayĀ
$6.6bn net foreign direct investments during first 9 months of FY 2017/2018
Foreign investments worth $10.8bn were injected into Egypt, $4.2bn outflow
Central Bank of Egypt removes foreign currency transfer limits
The move could spur foreign investments to Egypt, says Tarek Amer
Inflation likely to resume rally if government delivers on next round of austerity measures
Research houses expects prices to shoot up again with applying subsidy cuts and VAT
Egypt has paid $1.2bn of its foreign debts
$750m to foreign oil companies, $533m for Saudi duesĀ
We have not issued any instructions to banks to stop dealing in Qatari riyal: CBEĀ
The Central Bank of Egypt (CBE) denied issuing any instructions to banks operating in the local market to stop dealing in Qatari riyal. Some banks suspended trading in Qatari riyal on Monday following Egyptās decision to cut diplomatic ties with Qatar. In a statement to Daily News Egypt, the CBE stressed it did not forbid …
Egypt’s foreign exchange reserves reach new high
The foreign exchange reserves increased to $31.1bn at the end of May compared to $28.6bn in April
CBE completes electronic linking system with COMESA banks
The project is a new positive step towards supporting Egyptian economic relations with African countries, says CBE governor
CBEās decision to raise interest rate continues to stir controversy
The decision was great and emphasised the bankās determination to activate its most important tools in the fight against inflation and not just abiding to the requirements of the IMF, says Abdel-AalĀ
Improvement witnessed in banking sector deposits growth: Beltone Financial
Commercial banksā foreign liabilities decreased to $430m in April from $10.7bn in November
Raise in interest rates āslap” for investment in Egypt: CONSTEC executive director
The profit margins of contracting companies range between 4% and 5%, while banksā interest rate reaches 20%, says Abdel-Hakam
CBE-auto industry committee submits final report to CBE Governor next week
The committee suggests the abolition of intermediary companies between the investor and the government when obtaining lands, says Khaled Saad
CBE calls on banks to introduce credit-rating system to evaluate micro-financing institutions
We have been studying ways to strengthen this sector, which is one of the most important pillars of achieving financial inclusion, says Amer
Banks ignore CBE decision to raise interest, keep rates unchanged
Next increase may be on short-term vessels, interest on certificates will not be changed, say bankers