BANKING

21 Aug 2017

SAIB-Egypt bank H1 profits fall 24%

Egypt’s Societe Arab Internationale de Banque (SAIB) reported a 24 percent fall in its first half profits between December 2016 to June 2017.

The bank made profits worth $23.421 million at the end of June"...

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19 Aug 2017

Egypt’s central bank keeps key interest rates unchanged

Egypt’s central bank kept its key interest rates unchanged on Thursday at a meeting of its monetary policy committee, it said in a statement, after it had raised them by a total of 400 basis points in the previous two meetings.

"...

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17 Aug 2017

World Bank delegation to visit Egypt Sunday to discuss final tranche of $3 billion loan

Egypt's Minister of Investment and International Cooperation Sahar Nasr will meet on Sunday with a delegation from the World Bank to discuss final procedures before giving Egypt the final $1 billion tranche of a $3 billion loan, the ministry announced Wednesday.

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14 Aug 2017

NBE bank secures 12 bln pounds for Egypt’s SME projects

Egypt’s biggest lender, the state-owned National Bank of Egypt says it has pumped 12 billion Egyptian pounds ($675 million) for 13,000 small and medium-sized enterprises (SME) customers.

The finances were"...

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10 Aug 2017

BAI Announces the Finalists for its 2017 Global Innovation Awards 

BAI announced the finalists for the BAI Global Innovation Awards, a prestigious awards program celebrating innovation in the financial services industry. Winners will be announced at BAI Beacon in Atlanta on October 4-5.

The"...

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09 Aug 2017

Andersen Global Expands Presence in Brazil With Branco Consultores 

(ME NewsWire)-- Andersen Global announces a presence in Rio de Janeiro, Brazil by way of a Collaboration Agreement with Branco Consultores, a tax and legal firm. The addition of Branco Consultores demonstrates Andersen’s growing presence"...

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07 Aug 2017

WeWork Announces $500 Million Investment For New Entity Focused on Growth and Expansion in Southeast Asia and Korea

WeWork is excited to announce a $500 million investment in a new entity focused on fueling its growth and expansion in Southeast Asia and Korea.

This investment underlines the potential for WeWork in Asia and"...

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06 Aug 2017

A.M. Best Awarded International Best Ratings Agency for Takaful at the International Takaful Awards 2017

(ME NewsWire)-- A.M. Best received the award for International Best Ratings Agency for Takaful at the International Takaful Awards 2017, held in conjunction with the 11th International Takaful Summit in London. This is the third consecutive year"...

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06 Aug 2017

NBE, Banque Misr: high-yield deposit certificates raise 445bn pounds in 8 months

Egypt’s two biggest state-owned banks, the National Bank of Egypt and Banque Misr have received around 445 billion Egyptian pounds ($25 billion) from their high-yield certificates of deposit from November 2016 to July 2017.

The"...

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05 Aug 2017

Egypt raises water and sewerage bills as part of IMF reforms

The Egyptian government has increased the prices of drinking water and sewerage fees up to 50 percent as part of an extensive economic reforms programme aimed at closing the budget deficit.

The decision reported"...

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