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Ratio of external debt to GDP registers 16.4% compared to 17.3% YoY, the CBE said
Finance minister said amendment helps managing public debt as it improves flow of tax revenues to the CBE
Project to provide technical and financial support to industrial facilities in line with environmental laws for pollution reduction
Chairman of the Energy Committee of the FEI expects energy investments to decline and concerns of Arab investments may lead to decrease in investments
CBE is set to raise dollar bids worth a total of $160m instead of $120m
Decline mainly due to the repayment of accrued deposits to Qatar, claims economist
Banking system owed EGP 10bn from tourism sector, workers hope to postpone debt repayment to end of 2015
New maximum wage sets wages at 50% less than original wages, resigned NBE official says
Meeting held Saturday between American Chamber of Commerce members and Prime Minister to discuss arrangements for receiving American businessmen
The agreements include two electricity stations in Western Damietta and El-Shabab
Supervision will cover monetary fund money despite antipathy of investment directors
Egypt’s external debt increased by 4.8% to record 45.3bn at the end of March 2014, compared to $43.2bn at the end of June 2013.
Bank previously announced that daily withdrawal limit would be set at $30,000
Egypt post collected EGP 730m from 250,000 Egyptians, governor says
Sale raises EGP 61bn for canal extension project
Salah Diab says board of directors are still reviewing how the fund will be used
Economic experts give different reasons for the limited impact of the interest rate hike on the stock market
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%.
The size of non-cash transactions in Egypt has reached approximately 7%, the head of business at MasterCard Egypt said during the People and Banks conference on Thursday. He added that non-cash transactions have reached “90% in France and Belgium, 80% in America, 60% in Korea and Japan, 30% in the UAE, 20% in Saudi Arabia, …
International foreign currency reserves record $17.28bn in May, down from $17.48bn in April
Increase of net domestic and foreign assets in banking system contribute to a 11% increase in domestic liquidity, according to central bank report
Central bank announces 2.6% increase in total credit facilities
Bank balances in March rose to EGP 559.444bn as compared to EGP 553.464bn in February and EGP 546.228bn in December of last year.
EGP value against dollar slumps after CBE’s foreign exchange auction to record EGP 7.14 comparing to EGP 7.083 before the auction
Egypt’s credit grew 20.7% year on year in January
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
To date, Egypt has received €6bn for the European Investment Bank
In a push to restore confidence in the economy, authorities opened a repatriation scheme in March 2013 guaranteeing foreign investors in Egyptian stock and government bond markets access to dollars despite the severe shortages of the US currency.
Mostafa Madbouly coordinates with Egyptian banks to enact the central banks initiative to aid low-middle income individuals.
The report added that total non-government deposits rose during November to reach around EGP 1.115tn, compared to EGP 1.09tn in the previous month.