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Business
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Economy
5/28/2023 1:02:03 PM
France is in "very close talks" with debt rating agency Standard and Poor's, Prime Minister Elisabeth Borne said Sunday, after a downgrade from rival Fitch reignited government finance concerns in the EU's second-largest economy.
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Business
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Markets & Companies
5/25/2023 11:45:32 AM
Most Asian equities sank Thursday on fears of a US default as the struggle to hammer out a debt deal led Fitch to warn the country's gold-plated credit rating was at risk.
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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
5/6/2023 6:38:31 PM
Minister of Finance Mohamed Maait attributed Fitch Ratings' decision to downgrade Egypt's sovereign credit rating -- giving it a Negative Outlook --to the country's continuous struggle against the extreme external pressures resulting from complex global challenges.
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Business
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Economy
2/23/2023 1:13:26 PM
Egypt's entrance into the sukuk market had been on the horizon for some time, and now it is a reality. It will be interesting to see whether Egypt will become a regular sukuk issuer or an infrequent one, Bashar Al-Natoor, the global head of Islamic finance at Fitch Ratings, told Ahram Online.
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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
11/14/2022 12:56:15 PM
Fitch Solutions has revised up its projections for Egypt’s real GDP growth in 2022 by 0.3 percent to 6.62 percent from 6.59 percent it projected in October, according to its latest update on its monthly MENA Economic Outlook Report.
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Business
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Economy
5/8/2022 8:47:32 PM
Egypt’s net international reserves (NIRs) rose slightly in April to $37.1 billion, up from $37 billion posted in March, the Central Bank of Egypt (CBE) announced on Sunday.
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Business
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Economy
4/21/2022 6:26:57 PM
Fitch Ratings has affirmed Egypt's long-term foreign-currency issuer default rating (IDR) at B+ with a stable outlook, the credit rating agency announced on Thursday.
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Business
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Economy
4/12/2022 3:36:45 PM
Sukuk issuance globally grew by 11.6 percent in value in the first quarter (1Q) of 2022 to post $64.5 billion, driven by sovereigns and multilateral institutions despite the ongoing challenges, Fitch Ratings said in a report on Tuesday.
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Business
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Economy
2/16/2022 2:53:59 PM
The global sovereign debt is expected to maintain its increase through the end of 2022 to reach $88 trillion, Fitch Ratings stated in a report released on Wednesday.
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Business
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Economy
1/13/2022 9:00:23 PM
Egyptian banks’ Viability Ratings (VRs) could come under pressure if the banks’ foreign assets continue to drop, Fitch Ratings said in its insights published on Thursday.
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Business
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Economy
1/11/2022 2:45:49 PM
The total Islamic bonds (sukuk) issued in 2021 worldwide grew significantly by 36.1 percent Y-o-Y to reach $252.3 billion, with central banks, governments, and multilateral institutions dominating sukuk issuances, Fitch Ratings said on Tuesday.
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Business
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Economy
12/15/2021 1:15:47 PM
Foreign investments in Egypt’s local-currency debt instruments market have rebounded after experiencing a drop amid the pandemic, helping the country to finance its larger current account deficit resulting from continued strong domestic demand and a decline in tourism revenue, which has also begun to recover, Fitch Ratings said in a new report.
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Business
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Economy
12/8/2021 4:31:05 PM
Fitch Ratings has lowered its global GDP growth projections for 2022 by 0.3 percent since its September global economic outlook to 5.7 percent.
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Business
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Economy
10/14/2021 2:00:00 PM
Fitch Ratings expects sukuk momentum to go on over the medium term fuelled by investor appetite, funding diversification and refinancing needs.
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Al-Ahram Weekly
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Economy
8/10/2021 8:59:47 PM
Director of financial institutions at Fitch Ratings Zeinab Abdallah outlined the findings of its recent report on Egypt’s banks
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Business
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Economy
8/4/2021 2:09:48 PM
Pressures on the Egyptian banks’ credit profiles and viability ratings have eased after improvements to the operating environment were made by the end of the third quarter of 2020
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Business
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7/15/2021 1:02:06 PM
Fitch said that seasonal patterns will affect quarterly sukuk issuance which, following the summer break, is expected to inch up in the remainder of 2021 and beyond
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Business
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Economy
6/13/2021 1:33:39 PM
Egyptian banks have higher profitability ratios than other peers in region, which gives them a room to keep adequate profitability margins and internal capital generation if interest rates are cut, according to Fitch
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