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These inflows included remittances from Egyptians living abroad
2 hours ago Egypt draws $12bn cash inflows year-to-date – CBE official
Cairo – Mubasher: Egypt has attracted more than $12 billion of cash inflows since the beginning of 2020, the Middle East News Agency (MENA) reported, citing an official source at the Central Bank of Egypt (CBE). These inflows included remittances …
The issuance will be used to finance the country’s budget deficit
2 hours ago CBE offers EGP 7bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds amounts to EGP 3.75 billion and will be offered through …
Remittances from Egyptians living abroad amounted to $11.1 billion
16 February 05:15 PM Remittances from Egyptian expats rise $1.2bn in 5M
Cairo – Mubasher: Remittances from Egyptian expatriates increased by $1.2 billion or 12.1% year-on-year during the first five months of fiscal year 2019/2020, data released by the Central Bank of Egypt (CBE) showed Remittances from Egyptians …
The lender reported net profits of EGP 1.228 billion last year
16 February 12:55 PM ADIB Egypt’s profit jumps 44% in 2019 initial results
Cairo – Mubasher: The initial financial results of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) showed a 44% year-on-year profit surge during 2019. The lender reported net profits of EGP 1.228 billion last year, compared to EGP 850.239 million in …
Bosta served over 5,000 e-commerce businesses
16 February 12:33 PM Bosta secures DPDgroup’s 1st investment in Egypt
Cairo – Mubasher: The Egyptian on-demand delivery startup Bosta has raised a multi-million funding in a Series A round of investment from Europe’s second largest parcel delivery network DPDgroup and the Egyptian e-payment platform Fawry. This is …
The issuance will be used to finance the country’s budget deficit.
16 February 10:26 AM CBE offers EGP 14.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 14.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 4 billion and will be offered through …
The sale included 182-day notes
13 February 08:16 PM Egypt sells EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) on Thursday announced the sale of treasury bills (T-bills) worth EGP 20.5 billion. The sale included 182-day notes worth EGP 10 billion at a yield ranging between 13.5% and 14.13%. The CBE also …
A Faisal Islamic Bank branch in Egypt
13 February 06:19 PM Faisal Islamic Bank’s assets reach over EGP 103bn in January 2020
Cairo – Mubasher: Faisal Islamic Bank of Egypt’s assets grew by 13.9% year-on-year at the end of January 2020. The bank’s assets rose to EGP 103.148 billion in January from EGP 90.593 billion in the same month a year earlier, according to a bourse …
The loan will be paid over a period of five years
13 February 03:13 PM Dice secures $5m loan from QNB Al Ahli
Cairo – Mubasher: Dice Sport and Casual Wear has signed a medium-term loan agreement worth $5 million (EGP 79 million) with Qatar National Bank Al Ahli (QNB Al Ahli). The loan will be paid over a period of five years, Dice said in a bourse …
Egypt's Prime Minister received EBRD VP on Thursday
13 February 02:52 PM Egypt tops EBRD portfolio with $1.3bn
Mubasher: Egypt is the biggest market for the European Bank for Reconstruction and Development (EBRD) with an investment portfolio of $1.3 billion, said the bank’s Vice President Alain Pilloux. In a meeting with Prime Minister Moustafa Madbouly …
The first tranche of the issue amounts to EGP 10 billion.
13 February 12:27 PM Egypt issues EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBK) on Thursday will issue treasury bills (T-bills) worth EGP 20.5 billion, in coordination with the Ministry of Finance (MoF), according to recent data from the CBK.    The first tranche of the issue …
Standalone profits fell to EGP 541.3 million in H1-19/20
12 February 05:39 PM EBE’s profits marginally up to EGP 603m in H1-19/20
Cairo – Mubasher: The consolidated financial results of Export Development Bank of Egypt (EBE) showed a marginal year-on-year (YoY) rise in profits to EGP 602.815 million during the first half of fiscal year 2019/2020 from EGP 585.6 million in the …
Credit Agricole generated EGP 5.96 billion revenues in 2019
12 February 05:32 PM Credit Agricole Egypt’s financials show EGP 2.36bn profits in 2019
Cairo – Mubasher: Credit Agricole Egypt saw a 7.2% year-on-year (YoY) increase in profits to EGP 2.36 billion in 2019 from EGP 2.2 billion in 2018, according to the bank’s consolidated financials to the Egyptian Exchange (EGX) on Wednesday. The …
Shares are set to be listed on 17 February
12 February 03:44 PM EGX approves listing of Banque Du Caire’s capital-increase shares
Cairo – Mubasher: The Egyptian Exchange (EGX) has approved the listing of Banque du Caire’s capital-increase shares, according to a bourse statement released on Wednesday. The bank’s capital increased by EGP 3 billion distributed into 750 million …
The gov't seeks to promote investment in Ismailia
11 February 10:23 PM EBRD inks agreement with Egyptian pharmaceutical company
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday signed an agreement with a major pharmaceutical company in Ismailia Governorate to provide a package of advisory services and open new markets in five African …
Evergrow's chairman Mohamed El Kheshen
11 February 09:49 PM Evergrow in talks for EGP 19bn finance to fund 2 projects
Cairo – Mubasher: Evergrow For Speciality Fertilizers is negotiating EGP 19 billion loans to fund two projects with a group of financial institutions from Germany, Switzerland, and the GCC, chairman Mohamed El Kheshen announced on Tuesday. …
CBE's Governor Tarek Amer
11 February 06:35 PM Local banks fund most of oil projects in Egypt – CBE’s Amer
Cairo – Mubasher: Most of the projects in the Egyptian oil sector is funded by local banks, Governor of the Central Bank of Egypt (CBE) Tarek Amer stated on Tuesday. The Egyptian banking sector is always ready to support and fund the growth of the …
Vezeeta currently operates in 50 cities in Egypt, Saudi Arabia, Jordan, and Lebanon
11 February 03:02 PM Vezeeta raises $40m in Series D funding round led by Gulf Capital
Cairo – Mubasher: Vezeeta, the leading digital healthcare startup in the Middle East and Africa, raised $40 million in a Series D funding round led by Gulf Capital, the largest alternative asset management company in the Middle East. Saudi …
The funding will be used to raise the capacity of the Alexandria West Waste Water Treatment Plant
11 February 11:51 AM EIB offers EUR 120m funding for sanitation improvement in Alexandria
Cairo – Mubasher: The European Investment Bank (EIB) signed a financing agreement worth EUR 120 million with the Egyptian government to finance the development and expansion of the Alexandria West Waste Water Treatment Plant (WWTP). The project …
The monthly core inflation recorded 0.7% last month
11 February 11:01 AM Egypt’s annual core inflation accelerates to 2.7% in January – CBE
Cairo – Mubasher: Egypt’s annual core inflation rate accelerated to 2.7% in January, compared to 2.4% in December 2019, according to data released by the Central Bank of Egypt (CBE). The monthly core inflation recorded 0.7% last month, compared to …
Director of KfW office in Cairo, Bernd Siegfried, and minister of planning, Hala El-Saeed
10 February 03:00 PM KfW’s investments in Egypt hit EUR 1.1bn
Cairo – Mubasher: Total investments of Frankfurt-based KfW, a government-owned development bank, in Egypt have reached EUR 1.130 billion, director of KfW office in Cairo, Bernd Siegfried, said. These investments are pumped into several projects, …
Net interest income rose to EGP 3.09 billion
10 February 11:06 AM NBK Egypt’s profit rises 8% in 2019; dividends proposed
Cairo – Mubasher: National Bank of Kuwait – Egypt (NBK Egypt) reported an 8.3% year-on-year profit growth during 2019. The lender’s net profits amounted to EGP 2.168 billion last year from EGP 2.002 billion in 2018, according to a statement to the …
State-owned banks are the top holders of the government debt instruments
10 February 10:28 AM CBE offers EGP 7bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7 billion on Monday on behalf of the Ministry of Finance. The first tranche amounts to EGP 3.75 billion and will be offered through five-year notes, …
The loan will be used to finance the purchase of new equipment
9 February 05:51 PM Egypt’s parliament approves EUR 540m loan for Cotton & Textile Industries
Cairo – Mubasher: The Egyptian parliament approved a draft law submitted by the government to authorise the minister of finance to guarantee that Cotton & Textile Industries Holding Co would fulfill its financial obligations to the Swiss SERY and …
This move is part of efforts towards digital transformation
9 February 04:01 PM Egypt to launch commercial register services for banks via i-Score
Cairo – Mubahser: The Egyptian Ministry of Supply and Internal Trade announced the launch of commercial register services for the banking sector through the Egyptian Credit Bureau (i-Score) on Wednesday, the Middle East News Agency (MENA) reported …