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"banks"

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Business - Economy
4/5/2024 2:39:55 PM
The Central Bank of Egypt (CBE) has announced that banks operating in Egypt will be closed from Tuesday 9 April to Sunday 14 April to celebrate Eid Al-Fitr.

Business - Economy
3/29/2024 6:09:44 PM
The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion in total since the devaluation of the Egyptian pound on 6 March, the companies' chiefs told the state news agency MENA.

Sports - World
3/25/2024 8:53:36 PM
Wales manager Rob Page says the team have come "a long way" since the retirement of Gareth Bale as they prepare to host Poland in a play-off final on Tuesday with a place at Euro 2024 at stake.

Arts & Culture - Stage & Street
3/21/2024 10:42:17 AM
A London authority said on Wednesday it had imposed "temporary measures" around a new mural by British street artist Banksy, after it was defaced within days of appearing.

Business - Economy
3/19/2024 11:38:02 AM
Shares were mixed in Asia on Tuesday after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy at odds with the stances of most central banks.

Business - Economy
3/18/2024 5:21:23 PM
The US dollar rate has continued to decline against the Egyptian pound since the Central Bank of Egypt (CBE) announced on 6 March that it would let the value of the local currency be set by market forces.

Business - Economy
3/12/2024 4:26:09 PM
The US dollar rate against the Egyptian pound declined on Tuesday by approximately 1.5 percent to EGP 48.8/1 USD for selling, compared to EGP 49.5/1 USD recorded a week ago and EGP 49/1 USD seen on Monday, according to the rates on the Central Bank of Egypt (CBE)’s website.

Business - Economy
3/10/2024 1:50:00 PM
Head of Egypt’s Banks Federation Mohamed El-Etreby urged caution amid an influx of hard currency into Egypt in the form of hot money following the flotation of the Egyptian pound and an increase in interest rates.

Business - Economy
3/7/2024 8:04:00 PM
The Egyptian pound averaged EGP 49.3 against the US dollar in most major banks at the closing of Thursday's trading just 24 hours after the Central Bank of Egypt (CBE) floated the local currency against the greenback.

Business - Economy
3/7/2024 6:43:01 PM
The Central Bank of Egypt (CBE) announced the working hours for banks during the holy month of Ramadan, which is expected to start on Monday.

Business - Economy
3/6/2024 6:03:00 PM
The Central Bank of Egypt (CBE) decided on Tuesday to float the Egyptian pound (EGP) and raise interest rates by six percent, in a bold move to meet economic challenges.

Business - Economy
3/6/2024 5:16:55 PM
The National Bank of Egypt (NBE) and Banque Misr (BM), Egypt’s largest state-owned banks, announced on Wednesday the launch of three-year certificates of deposits (CDs) with initial annual interest rates of up to 30 percent, which decrease gradually.

Business - Economy
3/6/2024 1:02:19 PM
The Central Bank of Egypt (CBE) has instructed local banks to lift the spending limit on foreign currency credit cards. The decision is part of a broader economic reform programme implemented by the CBE and the government, with the backing of international partners.

Business - Economy
2/16/2024 6:12:53 PM
Egyptian banks' one-year maturity saving certificates of deposits (CDs), which offer a high annual yield of 27 percent or a monthly yield of 23.5 percent, have attracted a record EGP 642 billion in just 42 days, according to reports.

Business - Markets & Companies
2/11/2024 12:31:46 PM
Visa signed a memorandum of understanding (MoU) with Egyptian Banks Company (EBC) in collaboration with the Central Bank of Egypt (CBE) to facilitate and enhance the process of international remittances for Egyptians living abroad, Visa announced on Sunday.

Business - Economy
2/1/2024 8:35:31 PM
​Global investment banks Goldman Sachs and Pictet Asset Management issued recommendations urging investors to purchase Egypt's US dollar-denominated bonds, according to a report by Bloomberg.

Business - Economy
1/31/2024 6:25:28 PM
The Central Bank of Egypt (CBE) has reduced the daily cash withdrawal limits in Egyptian pounds for corporations and individuals to EGP 150,000, according to a message sent to banks on Wednesday.

Business - Markets & Companies
1/29/2024 11:35:32 PM
A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden.

Business - Economy
1/25/2024 7:08:02 PM
The National Bank of Egypt (NBE) and Banque Misr collected EGP 471 billion in proceeds through their high-yield certificates of deposit (CDs) within three weeks following issuance, the chairmen of the two banks said in press statements on Wednesday.

Business - Economy
1/24/2024 2:36:33 PM
Global rating agency Moody’s has changed the future outlook for five major Egyptian state-owned and private banks from stable to negative, while maintaining their long-term deposit ratings at CAA1 and B3, according to a report by the agency on Tuesday.

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