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Business - Economy
2/2/2023 2:07:57 PM
The dollar and euro exchange rates to the EGP were stable at the beginning of Thursday's transactions at Egypt's major banks, with the dollar recording an average of EGP 30.2 and the euro registering EGP 33.2.

Business - Economy
1/31/2023 9:59:19 PM
Iran and Russia have taken a key step toward linking their banking systems in a move that further boosts their cooperation in the face of Western sanctions, an Iranian official said.

Business - Economy
1/30/2023 10:50:07 PM
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit (CDs) offered by Banque Misr and the National Bank of Egypt (NBE) garnered EGP 460 billion in less than a month, said Chairman of the Federation of Egyptian Banks and Banque Misr Mohamed El-Etreby said.

Business - Economy
1/18/2023 1:39:36 PM
Egyptian banks’ regulatory capital ratios, especially in private banks, can withstand further Egyptian pound depreciation because of their healthy internal capital generation, Fitch Ratings said in a note on Tuesday.

Business - Economy
1/16/2023 4:56:56 PM
The National Bank of Egypt (NBE) and Banque Misr are set to stop the issuance of the certificates of deposit (CDs) with 25 percent annual yield before the end of January as the proceeds have covered the target, the two banks announced on Monday.

Business - Economy
1/12/2023 5:04:07 PM
The Egyptian pound is continuing to witness significant fluctuations against the US dollar on Thursday, surpassing EGP 30 in a number of foreign and Arab banks operating in the Egyptian market.

Business - Economy
1/11/2023 5:38:00 PM
In a dramatic performance on Wednesday, the Egyptian pound hit its lowest-ever price of EGP 31 against the US dollar, losing over 100 percent of its value since March before slowing down to EGP 29.63 at the Central Bank of Egypt (CBE) and major banks.

Al-Ahram Weekly - Egypt
1/11/2023 4:16:00 PM
Egypt’s banks have issued deposit certificates offering their highest-ever yields, but are they necessarily good news for investors?

World - International
1/10/2023 5:31:26 PM
The US Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies.

Business - Economy
1/9/2023 4:56:21 PM
The Egyptian pound continued its downward trend on Monday, depreciating by 50-60 piastres against the US dollar in major banks.

Business - Economy
1/4/2023 4:40:00 PM
The Egyptian pound lost over 10 percent of its value against the US dollar in Wednesday’s transactions at major banks, a few hours after the National Bank of Egypt (NBE) and Banque Misr offered new 25-percent-yield saving certificates.

Business - Economy
1/4/2023 12:30:27 PM
The National Bank of Egypt (NBE) and Banque Misr have issued new one-year maturity saving certificates with a 25 percent yield after one year, the highest yield on record, the two banks announced on Wednesday.

Business - Economy
12/25/2022 11:37:07 PM
The Central Bank of Egypt (CBE) has ordered banks to remove the recently-announced limits on overseas cash withdrawals in foreign currency for expats who need the cash for medical treatment or education.

World - Region
12/25/2022 3:42:25 PM
Driven mainly by soaring energy prices, inflation in the UK has been running high this whole year in 2022, reaching successive new records. In October, households paid 88.9 percent more on average for electricity, gas and other fuels than a year ago, the Office for National Statistics (ONS) said.

Business - Economy
12/20/2022 5:10:27 PM
The Central Bank of Egypt (CBE) sent on Sunday a circular to the banks that includes new measures meant to control the proceeds of gold exports from the local market.

Egypt - Politics
12/18/2022 6:29:07 PM
Egyptian MPs voted Sunday in favour of a new bill allowing local banks and authorities to exchange tax information with member countries of the Global Forum for Transparency and Exchange of Information for Tax Purposes.

Business - Economy
12/18/2022 5:22:16 PM
The exchange rate of the US dollar against the Egyptian pound was stable at the close of transactions Sunday at Egypt's major banks, the first working day after the International Monetary Fund (IMF) approved Egypt’s $3 billion new economic reform programme.

Business - Economy
12/15/2022 5:04:27 PM
The European Central Bank slowed its record pace of interest rate hikes only slightly Thursday, joining the U.S. Federal Reserve and other central banks around the world in reinforcing an inflation crackdown while glimpsing headway against the high prices that are plaguing consumers.

Business - Economy
12/15/2022 5:00:00 PM
The Central Bank of Egypt (CBE) extended on Thursday for one year - from 31 December 2022 to the end of December 2023 - the deadline for banks that have not yet increased their credit facilities portfolio to companies and micro, small and medium-sized enterprises (SMEs) to 25 percent.

Business - Markets & Companies
12/12/2022 6:22:00 PM
Wall Street pushed higher but European and Asian stock markets dropped Monday as investors looked ahead to interest rate decisions this week from major central banks including the Federal Reserve.

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