BANKING

12 Jun 2018

Egypt's Central Bank commits to cooperation between African countries to achieve economic development in Africa

Governor of Egypt’s Central Bank (ECB) Tarek Amer conveyed Egypt’s intention to implement serious steps to strengthen cooperation between African countries.

Speaking on behalf of Egypt's government"...

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10 Jun 2018

Industrial Development Bank finances Egypt’s first agricultural commodities bourse

Egypt’s state-run Industrial Development and Workers Bank (IDWBE) says it is solely financing the country’s anticipated agricultural-focused commodities trading exchange, the first of its kind in the Middle East.

The"...

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06 Jun 2018

Afreximbank to lend $1.5bln for projects in Egypt

The African Export-Import Bank (Afreximbank) intends to provide a loan of $1.5 billion to Egypt to fund various projects including oil and petrochemical projects, its President has said. The Cairo-based Bank finances and promotes intra- and extra-African trade. The funds are part of $10 billion loans to be extended by Afreximbank to a number of African countries to finance development projects, Benedict Orama told Thomson Reuters Projects in an interview on the sidelines of a press conference last week. The press conference, attended by Egyptian trade minister Tarek Qabil, was held to launch the first edition of Intra-African Trade Fair (IATF)......

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04 Jun 2018

Moody’s Analytics Helps Lenders Make Smarter, Faster Decisions with Enhanced CreditLens™ Solution

(AETOS Wire) -- Moody’s Analytics, a global provider of financial intelligence, has enhanced its CreditLens™ platform with a release of functionality that provides easy access to financial data on banks around the globe, and new covenant and enhanced collateral monitoring capabilities. The CreditLens software supports our clients’ automation and digitization initiatives to enhance their lending decisions and growth objectives. Among the new capabilities is the integration of data from Bureau van Dijk, acquired last year......

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02 Jun 2018

Can Egypt’s Central Bank save thousands of faltering factories?

The governor of the Central Bank of Egypt, Tarek Amer, announced May 10 an initiative to help troubled factories, in cooperation with Egyptian banks, by keeping more than 5,000 faltering factories afloat and lowering the interest"...

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31 May 2018

Egypt external debt up to $82.9 billion at end of 2017: Central Bank

Egypt's external debt recorded $82.9 billion at the end of 2017, up from $80.8 billion in the third quarter of the year, which ended in September 2017, the Central Bank said in a statement on Wednesday.

Debt"...

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30 May 2018

Clarivate Analytics partners with the Egyptian Knowledge Bank to power the first Arabic Citation Index

Clarivate Analytics has partnered with the Egyptian Knowledge Bank (EKB), the Egyptian government's digital library and online knowledge hub to launch the first Arabic Citation Index (ARCI). This index will launch in 2020 as part of Egypt's 2030 Vision to transform Egypt into a"...

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23 May 2018

HSBC gives 'optimistic' economic outlook for Egypt

HSBC is “fundamentally” optimistic on Egypt’s near-term outlook, the bank's Chief Economist for Central & Eastern Europe, Middle East and Africa Simon Williams said at an HSBC Economist Roadshow event in Cairo, according to a recent press release.

Williams"...

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22 May 2018

Egyptian tycoon Sawiris seeks to control group owning banks in 12 African countries

Beltone Financial, one of Egypt’s largest investment banks affiliated with business tycoon Naguib Sawiris, said on Sunday that the board of directors had agreed to acquire a controlling stake in the URA Group, which owns banks in 12 African countries, Reuters reported.

The"...

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