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Business
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Economy
5/29/2023 3:28:48 PM
Banque Misr will receive a $260 million loan from the World Bank's (WB) financial arm, the International Finance Corporation (IFC) over five years to support micro, small, and medium-sized enterprises (MSMEs).
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Business
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Economy
5/17/2023 9:10:15 PM
Fitch Ratings downgraded on Wednesday four Egyptian banks' Long-Term Issuer Default Ratings (IDRs) to 'B' from 'B+' and Viability Ratings (VRs) to 'B' from 'B+', and maintained their outlooks as Negative.
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Business
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Economy
5/1/2023 6:00:55 PM
Standard & Poor (S&P) Global Ratings has revised its outlooks on the National Bank of Egypt (NBE), Banque Misr, and Commercial International Bank (CIB) to negative from stable.
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Business
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Economy
4/27/2023 5:27:59 PM
The European Bank for Reconstruction and Development (EBRD) has set 31 May as the approval date for a $100 million loan program to Banque Misr, under the Financial Intermediaries Framework ("FIF"), to finance micro, small, and medium enterprises (MSMEs).
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Business
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Economy
4/5/2023 2:10:37 PM
A group of Egyptian banks have issued high-yield certificates of deposit (CDs), following the lead of the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), and Qatar National Bank (QNB).
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Business
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Economy
4/5/2023 2:10:17 PM
Proceeds of the high-yield certificates of deposit (CDs) of the National Bank of Egypt (NBE) and Banque Misr have reached EGP 109 billion since their issuance on Sunday, read the statements of the two state-owned banks.
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Business
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Economy
4/4/2023 12:10:38 AM
Prices of gold in Egypt dropped by around 3.18 percent on Monday after new high-yield certificates of deposit (CDs) issued by the National Bank of Egypt (NBE) and Banque Misr collected EGP 67 billion ($2.16 billion) in proceeds on the first day of issuance.
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Business
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Economy
4/3/2023 1:08:00 PM
The National Bank of Egypt (NBE) and Banque Misr have collected EGP 67 billion ($2.16 billion) in proceeds from two new high-yield certificates of deposit (CDs) in the 24 hours following issuance, the two banks announced.
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Business
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Economy
4/2/2023 11:00:17 AM
The National Bank of Egypt (NBE) and Banque Misr have recently issued two new certificates of deposit (CDs) with fixed yields of 19% and a decreasing yield of 22%. In a joint statement, the central banks announced the issuance of a CD with a 19% annual yield over three years.
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Business
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Economy
3/9/2023 12:49:35 PM
The one-year certificates of deposit (CDs), with 18 percent annual yield the National Bank of Egypt (NBE) and Banque Misr issued in March 2022, will mature on 19 March, raising questions about the local market's reaction.
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Business
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Economy
2/3/2023 3:59:46 PM
Could Egypt lower its dependency in the short term on "hot money" as a source of securing liquidity in foreign exchange amid the government's plan to focus on attracting more direct investments in a longer term strategy for strengthening the economy? Ahram Online asked various analysts.
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Business
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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.
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Business
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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.
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Business
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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.
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Business
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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.
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Opinion
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Opinion
1/11/2023 4:25:00 PM
There is no doubt that the Egyptian economy is going through some challenging times.
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Business
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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.
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Business
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Economy
1/8/2023 2:16:31 PM
Proceeds from the 25 percent saving certificates launched on Wednesday by the National Bank of Egypt (NBE) and Banque Misr (BM) reached nearly EGP 100 billion in only 48 hours, NBE Vice Chairman Yahia Abou El-Fotouh said on Saturday.
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Business
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Economy
1/5/2023 10:03:32 PM
National Bank of Egypt (NBE) and Banque Misr (BM) announced on Thursday that they are going to open their branches nationwide on upcoming holidays to sell their new one-year maturity saving certificates with a 25 percent yield to the public.
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Business
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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.
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