Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Foreign investments in Egyptian treasury bills amount to EGP 500m in June 2015: CBE
Foreign investment in government debt instruments is too little compared to before the January 2011 Revolution
Private sector acquires 61.9% of commercial credit facilities: CBE
The total facilities granted to the government by banks until the end of June rose by EGP 25.619bn to EGP 66.421bn, compared to EGP 40.802bn at the end of June 2014.
Financial inclusion in Egypt needs improvement: El-Khouly
The CBE needs to encourage greater financial inclusion, in addition to its role in achieving financial stability and pushing economic growth, El-Khouly said.
CBE fixes its basic return rates
“The MPC decision was highly expected in light of CBE’s keenness to activate investment, move the economy and not to increase the burdens of local debt,” said Haitham Abdel Fattah
CBE to discuss future prices of basic interest rates
Unlikely for CBE to raise its interest rates on the pound, according to IDBE treasury director-general
Governors of central banks and heads of Arab monetary institutions meet in Cairo
It is expected that the Arab executive directors at the International Monetary Fund (IMF), and the World Bank (WB) are attending the event, in addition to the Union of Arab Banks, and the Union of Arab Securities Authorities
CBE’s policies limiting hard currency cash deposits leads to disaster: Exporters, importers
There is large exit for local investments from market because of production cessation and losses, says Engineering Industries Export Council head
CBE, banks face 6 major challenges in upcoming period
Challenges include adjusting foreign exchange market, rebuilding reserves, and controlling inflation, say analysts
Salman affirms CBE’s independence
Following controversial statements on Egyptian pound depreciation, investment minister Salman attempted to calm down markets by confirming CBE’s independence
Dcode studiesEFC: Why is the Suez Canal important to the Egyptian economy?
Dcode Economic and Financial Consultancy has conducted a study to examine the significance of the new Suez Canal project to the economy.
Egypt implements first office in UAE to revitalise tourism
New office will cooperate with airlines flying into Egypt to create direct flights to Sharm El-Sheikh, Red Sea and North Coast
Banks acquire 78.4% of total issued treasury bills until end of last April: CBE
EGP 402.3bn volume of banks’ investments in the governmental securities out of EGP 512.9bn
Egypt’s debts to Paris Club decrease 18%
Egypt repaid $670m to Paris Club in July, another payment of same amount is expected to follow in January
CBE stabilises dollar price after 2 increases
Dollar will increase again, and the stable price is temporary, analysts say
EGP 12.246bn increase in banks’ deposits, EGP 16.8bn in loans last April: CBE
The CBE added that the household sector acquired EGP 75.9bn out of the total deposits of banks’ customers in April, where its deposits registered EGP 1076.371bn during that month compared to EGP 1062.607bn during March.
Dollar exchange rate expected to exceed EGP 7.8 this week
CBE sold $40m of periodic dollar bid, with average dollar exchange rate of EGP 7.63, after four month stability
CBE raises dollar price by 10 piasters at official auction
The Central Bank of Egypt (CBE) allowed the Egyptian pound to deteriorate on Thursday, for the first time since February 2015
Government targets EGP 262bn loan for budget deficit in Q1 of FY 2015/2016
Ministry of Finance to issue treasury bills with EGP 189.5bn and treasury bonds with EGP 72.5bn between July and September 2015
Fitch confirms Egypt’s “B” rating, outlook is stable
Budget deficit expected to decrease to 11.6% of GDP in FY15, in comparison to the 17.5% of GDP recorded in FY14, Fitch noted
CBE to offer treasury bills worth $700m
CBE will allow local banks and foreign institutions to subscribe to the dollar bills with a minimum of $100,000 and its multiples
Egyptian banking sector EGP 2tn in 2014: Fayed
Bank deposits increased 17%-20% over last three years, loans increased by 10%
CBE agrees to cover 50% of foreigners’ money upheld in Egyptian market since 2013
There has been a crisis in upholding foreign traders’ money in the EGX and not transferring it, even two years after settling the purchase operations of shares, bonds, and treasury bills of foreigners.
Cash reserves fall by $1bn in May: CBE
Government works to attract investments of between $6bn-$8bn by the end of 2015 to push reserves growth
CBE controls importers’ manipulations
Banks activate automated “Model 4” to determine real importing demands
Initiative to postpone payment of tourism dues to end of this year
Losses of tourist activity nears $10bn over the past four years, using 2010 a standard to measure tourism income in Egypt
ABK acquires Piraeus-Egypt for $150m
Al Ahli Bank of Kuwait acquires 98.5% of Piraeus Bank – Egypt shares
Dollar exchange rate forces increased automotive prices
Sector workers cannot keep up with increase in taxes and customs
Egypt targets $6bn-$8bn FDIs for FY 2014/2015: Salman
Stock exchange tax must be stopped to deepen the market, executive regulation of investment law to be ready within a month, says Salman
Central Bank of Egypt leans on currency devaluation
By Oxford Business Group A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading. The controlled devaluation of the currency earlier this year from EGP 7.14 to EGP 7.62 to the dollar has …
CBE, EFSA cooperate for financial education programme
The proportion of Egyptians dealing with banks is 10%, says EBI executive director