The capital flows into emerging markets (EM) have continued to recover following the sharp slump in March 2020, according to the Central Bank of Egypt (CBE).
The month witnessed the sharpest outflows on record since 2008, as a result of the outbreak (...)
The Central Bank of Egypt (CBE) issued, on Monday, the guiding principles for sustainable financing.
The principles will provide the basis for planning and laying out the general framework for applying sustainable financing in Egyptian banks. They (...)
Nevine Gamea, Egypt's Minister of Trade and Industry and CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), has highlighted the "Decent Life" initiative's integrated technical services.
Gamea also highlighted that these (...)
The Central Bank of Egypt (CBE) expects annual headline inflation rates to hover around the midpoint of the target inflation rate of 7% (±2%) during the fourth quarter (Q4) of 2022.
The CBE explained in its monetary policy report, issued last week, (...)
HSBC has been named as the Best Investment Bank in Egypt at the 2021 Euromoney Middle East Awards for Excellence.
The bank collected a total of five awards, including the Middle East's Best Bank for Sustainable Finance and the Middle East's Best (...)
Since entering the Egyptian market, Crédit Agricole Egypt has made its mark in helping bridge the gap between France and Egypt, supporting the former's position as a strategic economic partner for the latter.
Jean-Pierre Trinelle, Managing Director (...)
The Central Bank of Egypt (CBE) launched, on Tuesday, a new mortgage finance initiative, which will allocate EGP 100bn for low- and middle-income citizens to purchase housing units.
The financing will be available through banks or mortgage finance (...)
Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the country saw a 13.3% decrease in its trade deficit during April 2021.
It published the latest figures for overseas trade on Sunday, in the form of its (...)
The Central Bank of Egypt (CBE) has approved the general framework and issued the controls to provide commercial registration services within banks.
These controls included allowing banks operating in Egypt and registered with the CBE to provide (...)
The third edition of the C3 Social Impact Accelerator Program, powered by HSBC, concluded on 1 July, with the three winners announced by Stephen Moss, Regional CEO of HSBC Middle East, North Africa and Turkey.
Egyptian startup Baramoda came first, (...)
The Egyptian Cure Bank has provided support for 65 university and governmental hospitals, as well as charitable clinics with a donation worth EGP 54m.
The finance will go towards modern medical devices, medicines, and medical supplies. The bank has (...)
The Egyptian government intends to depend less on the local market in financing the state's general budget deficit during the first quarter (Q1) of fiscal year (FY) 2021/22, according to sources.
The government aims to borrow only EGP 587bn from the (...)
The Central Bank of Egypt (CBE) revealed an increase in the volume of local currency deposits in banks operating in Egypt by about EGP 53.774bn, to reach about EGP 3.932trn during May 2021, compared to about EGP 3.879trn in April 2021.
In a recent (...)
The Commercial International Bank (CIB) – Egypt has opened the door for subscription for the first green bond issuance in the Egyptian market, after obtaining the initial approval from the Financial Regulatory Authority (FRA).
The bank explained, in (...)
Egypt's external financial transactions saw an improvement in the period between July 2020 and March 2021, with the balance of payments (BOP) recording an overall surplus of $1.8bn.
This took place against a deficit of $5.1bn a year earlier that was (...)
The Central Bank of Egypt (CBE) has revealed that investments by foreigners in Egyptian Treasury bills (T-bills) rose to the equivalent of about EGP 349.9bn in May 2021.
This latest figure compared to the equivalent of about EGP 326.9bn in April (...)
Egypt's Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has injected EGP 32.3bn of funding into 1.4 million small and micro projects between July 2014 and May 2021.
The financing for the projects has helped provide over 2 million (...)
The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in the local market, other than itself, increased to about EGP 7.554trn at March 2021 end.
This compared to the EGP 7.022trn recorded in December 2020, (...)
The Central Bank of Egypt (CBE) has revealed that the net profits of banks operating in the Egyptian market recorded about EGP 29.991bn in March 2021.
This compared to the EGP 36.902bn reported in March 2020, in an indication of the continuing (...)
The Central Bank of Egypt (CBE) has extended some of its precautionary measures against the novel coronavirus (COVID-19) pandemic for an extra six months.
This will see the precautions in place until 31 December 2021, rather than 1 July.
The move (...)
Egypt's annual unemployment rate in 2020 stood at 7.9%, the same figure as 2019, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The latest unemployment figures were issued, on Wednesday, as part of the annual (...)
Egypt's Prime Minister Mostafa Madbouly chaired a meeting of the Economic Ministerial Committee, on Monday evening, to discuss a number of important files, including measures to advance industry and industrial exports.
The meeting took place in the (...)
Egypt's Prime Minister Mostafa Madbouly chaired a meeting of the Economic Ministerial Committee, on Monday evening, to discuss a number of important files, including measures to advance industry and industrial exports.
The meeting took place in the (...)
Egypt's Prime Minister Mostafa Madbouly held a meeting with Tarek Amer, Governor of the Central Bank of Egypt (CBE), to review initiatives directed to support the country's various economic sectors.
During the meeting, which took place in the (...)
A total of 12 banks working in the Egyptian market have reported net profits of EGP 6.495bn during the first quarter (Q1) of this year, which ended on 31 March 2021.
The results were reported in a survey conducted by Daily News Egypt on the (...)
