Latest in Tag: flotation Highlight
Latest in Tag: flotation
Egyptian pound shows signs of correction: Beltone
Total outstanding liability to register at $7.6bn and $12.2bn in FY 2017/18 and FY 2018/19 respectively
Banking system receives $54bn since pound flotation in November 2016
Proceeds are distributed as $25bn funding, $9bn government debt instruments investments, $20bn concessions and remittances from Egyptians abroad
Egytrans launches road transport fleet project worth EGP 9m during current FY
Egytrans signed an agreement with Ahli United Bank to have a facility of EGP 35m as letters of guarantee and about EGP 20m working capital
CBE reveals foreign exchange status after flotation
$8bn in remittances from Egyptian expats from November 2016 until the end of March 2017
As raw commodity prices accelerate, food companies likely to reprice products
Milk powder prices hover around 5-years high, sugar rises 7.5% in 2 months
Flotation, raising interest rate sparked competition between leasing companies: Global Lease
Global Lease current portfolio is approximately EGP 1.4bn, says CEO
Foreigners’ investments in Egyptian treasury bills reach EGP 145.8bn following pound’s flotation
Foreign investors’ bids for treasury bills registered EGP 2.8bn on Tuesday, while the interest rate continues to decline
Local mobile sales drop 50% after flotation
Slight growth brings the decline up to 30% in the second half of 2017, says Wagih
Increasing interest rates on loans has no effect on industrial sector on long term, inflation to fall in November: Kabil
The industrial sector is facing lots of obstacles but is capable of continuing
Banks financed foreign trade operations valued at $35bn since flotation: CBE
Decision to raise interest by 2% aims to curb inflation, CBE takes into account all society segments, Amer says
Crédit Agricole collected $1bn of hard cash since flotation
François Edouard Drion, chairperson and managing director of Crédit Agricole Egypt, said that the bank collected $1bn of hard cash since the flotation.
Egyptians invest their dollars into real estate, pushing prices up 40% since flotation
Demand keeps growing despite unjustified price hikes, says head of Building Materials Division
Tenants negotiate to decrease rent cost after flotation: JLL country director
Residential supply grows at a high rate of 11%, says Sami
EGP flotation raises cement exports to 1 million tonnes in Q1
Cement sector did not export since 2009, says head of cement production division at FEI
Construction companies resort to prime minister to rescue them from pound flotation impact
Companies are demanding a grace period of 3 months for contracts of project of 2016
Fuel subsidy bill this fiscal year will exceed EGP 110bn: El Molla
We cannot continue subsidising fuel this way, says Minister of Petroleum
Sawiris Foundation targets 20% budget increase after flotation
SFSD plans to expand El Gouna Technical Nursing Institute through increasing the number of students to 300, says SFSD executive director
Banks’ foreign trade operations worth $28bn between flotation and 10 April
Documentary credits opened for $9bn, repayment of other collection and credit documents for $19bn
Flotation will allow Egypt to be competitive tourist destination once again: Samih Sawiris
Tourism promotion campaigns will make a difference if done with the participation of sector’s experts
Importing raw material erodes advantages of flotation: Arab Dairy
Trade agreements do not live up to expected level, says Abdel Moneim
The White Bay is planned to be delivered in 2021: says Mohamed Gamal, PACT’s board of directors’ chairman
PACT is a real estate company who is currently present in the real estate market by its project White Bay in North Cost of Egypt. It is also willing to be present with a new investment opportunity, represented in a housing project, during the current year. In this regard, Daily News Egypt met with PACT’s …
Private sector can help government attract foreign investments: Ahmed Shalaby
Established in 2014, Tatweer Misr is an Egyptian shareholding real estate company that capitalises on the wealth of industrial and real estate experience brought to the table by its shareholders.
From flotation to energy price hikes: how construction materials companies are affected
The Egyptian state is seeking to reduce fiscal expenditures through fuel subsidy restructuring
Banks increase bad debt allocations by EGP 27.2bn due to flotation
Total financial position of banks climbed to EGP 3.99tn at the end of November 2016, increasing by EGP 857.2bn from October
Bank Audi Egypt settles all dollar debts resulting from currency difference after flotation
We had a few companies with debts of more than $5m, whose positions have already been setted, says Fayed
Flotation drives deposits at banks to EGP 490bn, loans to EGP 313.3bn in November 2016
137.2% growth in foreign currencies deposits in flotation month, drops to 18.3% after excluding impact of the decision
The future of product prices is unpredictable
Experts, businesspeople, and investors remain unsure about whether the prices will be hiking or dropping in the future
The informal market returns to scene of US dollar crisis
USD price at banks stood at EGP 17.55 to buy, and EGP 17.70 to sell
$5bn total foreign remittances after 3 months of flotation
Volume of transfer increased by 23% in January 2017, compared to 2016
Flotation raises the development cost of 665 feddans in New Heliopolis by 20%
Hany Al-Deeb, CEO of the Heliopolis Company for Housing and Development told Daily News Egypt that the cost of developing 665 feddans (690.2 acres) in New Heliopolis increased by 20% due to the pound flotation, noting that the cost was estimated at EGP 30bn—including the price for the land—before the flotation and now surged to …