Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Government to address obstacles facing entrepreneurship, SMEs: Mehleb
Bank branches in Upper Egypt and Nile Delta to facilitate funding for small and medium-sized companies, says CBE governor
External debt rises to $46.1bn at end of June 2014
Ratio of external debt to GDP registers 16.4% compared to 17.3% YoY, the CBE said
International foreign reserves drop to $15.3bn
Egypt’s BOP recorded $410m surplus in Q1 2014/2015
Mehleb witnesses signing of pollution control funding agreement worth €70m: Cabinet
Project to provide technical and financial support to industrial facilities in line with environmental laws for pollution reduction
Egyptian energy investments may decrease due to low global oil prices: Experts
Chairman of the Energy Committee of the FEI expects energy investments to decline and concerns of Arab investments may lead to decrease in investments
Banks to begin paying returns for Suez Canal certificates Sunday
The value of the first instalment is estimated to be approximately EGP 1.9m
Tourism sector asks banks to postpone debt repayment to end of 2015
Banking system owed EGP 10bn from tourism sector, workers hope to postpone debt repayment to end of 2015
EGP 10.5bn to support budget deficit by Egyptian banks
NBE-led union collects loan worth $1.5bn to pay portion of the dues of foreign oil companies operating in Egypt
US delegation investigates investment climate, includes potential investors
Meeting held Saturday between American Chamber of Commerce members and Prime Minister to discuss arrangements for receiving American businessmen
Foreign reserves register $1.7bn year-on-year decrease in October
October’s figure marks the fourth consecutive increase in foreign currency since a decrease of around $60m from May’s figure to June
Saudi Arabia allocates $350m to Egypt in 3 agreements
The agreements include two electricity stations in Western Damietta and El-Shabab
Successful overseas dollar bonds launch will strengthen Egyptian economy: Experts
Analysts call government’s determination to offer dollar bonds during first quarter of 2015 a move to restore confidence of foreign investors
Domestic liquidity increases to EGP 1.545tn: CBE
Rise in domestic liquidity during July reflects increase in net domestic assets and retreat in net foreign assets at banking system, says CBE
Euromoney Conference: Construction and real estate sectors need better governance: Real estate developers
Egypt’s construction and real estate market has growth potential, says real estate company regional director
$6bn foreign direct investment in FY 2014/2015: Investment minister
Egypt’s total foreign direct investments for FY 2013/2014 measured $6bn, Investment Minister Ashraf Salman said on Tuesday. On the sidelines of the Euromoney conference, Salman said that Egypt is hoping to “touch the $10bn” mark during FY 2014/2015, and will reschedule debts to foreign partners operating in the petroleum sector. The move will restore their …
Suez Canal certificates sold out: CBE
Sale raises EGP 61bn for canal extension project
UPDATE: Banque du Caire receives Suez Canal investment certificates
Cooperation protocol between the Suez Canal Authority, banks and the Ministry of Finance expected to be signed on Tuesday.
Al-Sisi approves Suez Canal investment certificates law
Cooperation protocol between the Suez Canal Authority, banks and the Ministry of Finance expected to be signed on Tuesday.
Public banking exemption from Suez Canal certificates ‘necessary’ to maintain liquidity’: Arabiya Online chair
The government’s drive to fund the Suez Canal project through investment certificates is raising fears that private sector banking will be pushed out
Tahya Masr donations yet to exceed EGP 5bn: Fund board member
Salah Diab says board of directors are still reviewing how the fund will be used
Mehleb charges 3 ministries, Central Bank with studying Suez Canal project funding: Finance Minister
Ibrahim Mehleb charges Finance, Investment, and Planning ministries with studying mechanisms to raise $8bn for new Suez Canal project
Mortgage finance down 17.1% year on year in first half of 2014
The effect of the CBE mortgage finance initiative to finance low-income housing projects will be felt in the second half of the year, says Cairo University professor
Group vows to post blacklist of businessmen not donating to Long Live Egypt Fund
Campaign aims to prompt citizens to boycott companies and products of businessmen who did not donate to the fund
7 banks raise interest rates on deposits after Central Bank decision
A recent CBE decision saw an increase in the benchmark overnight deposit rate by 1% to 9.25%, and the overnight lending rate to 10.25%.
National Bank of Egypt, Banque du Caire, and Banque Misr increase returns on savings certificates
A number of government banks raise returns on savings certificates to attract liquidity, fight inflation, and increase individual returns
Returns on treasury bills rise, negative impact on economic growth expected
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
Interest rate hike to threaten government debt inflation if financial reform fails: DCode Chairman
Central Bank of Egypt increased interest rates by 1% to contain high inflation expected after subsidy decrease and petroleum price increases
Economists forecast inflation jump in July following fuel price hikes
CBE can control inflation rates through increasing interest rates orVice Chairman of Egyptian Association for Financing and Investment Studies
‘Long Live Egypt Fund’ receives over EGP 400m in donations
Latest donation was from a Saudi businessman who contributed EGP 214m to the fund, CBE says
Suspension of Gulf aid behind $600m drop in foreign reserves in June: Experts
Foreign reserves register the lowest level since the ouster of former president Mohamed Morsi in July 2013