The banks' branches located in Egypt's Tahrir Square decided to remain closed for fear of a potential violence that expected to accompany the ongoing mass demonstrations which claim to oust President Mohamed Morsi.
Ahli United Bank has closed its (...)
All the banks' branches located in Egypt's Tahrir Square decided to remain closed for fear of a potential violence expected to accompany the ongoing mass demonstrations which claim to oust President Mohamed Morsi .
Ahli United Bank has closed its (...)
Egypt's stock market and the Central Bank have started their activities on Sunday haunted by a state of security vacuum as the planned anti-regime mass demonstrations are set for showdown today.
Investors and traders are in full alert and feared of (...)
Egypt has launched on Wednesday its first index for the stocks compliant with the Islamic finance. This was on the sidelines of the fourth forum of the Egyptian Islamic Finance Association (EIFA) convened on Wednesday entitled 'The Islamic Finance (...)
During his visit to the United States, the Egyptian stock market Chief has met with representatives of around 30 global financial institutions.
Dr. Mohamed Omran – the Chairman of the Egyptian Exchange (EGX) – has reviewed with the representatives (...)
Egypt-based Prime Holding for Financial Investment S.A.E. (PRMH.CA) – has announced on Wednesday its plans to establish a new firm to be a subsidiary of the newly-founded Mining Holding Company.
Mohamed Maher, Managing director of Prime Group, said (...)
Egypt-based Prime Holding for Financial Investment S.A.E. (PRMH.CA) – said the firm is currently in talks with a number of local banks seeking to run 3 fresh fixed-income investment funds with capitals expected to reach EGP 100 million.
Mohamed (...)
Orascom Construction Industries (OCIC.CA), announced on Tuesday that it will pay the Egyptian Tax Authority (ETA) ten installments during 2013- 2017 totaling EGP 7.1 billion less EGP 182 million in existing tax credits to end a dispute regarding tax (...)
The Egyptian Chemical Industries Company (KIMA) considers offering dollar-denominated bonds in the Egyptian Exchange (EGX) to attract dollar resources after Egyptian banks conditioned increasing the company's capital as a main guarantee to provide (...)
The Egyptian Chemical Industries Company (KIMA), has started a series of negotiations and meetings with a number of Arab banks in order to provide the financial sources for implementing its new factory in Aswan and establishing a new factory for (...)
The leading global developer Orascom Development Holding AG (Orascom Development) (ODHN.CA) has been reducing its local receipts deposited in the Egyptian Exchange since March 10, cancelling around 524.9 local deposit receipts. This has made the (...)
During the first quarter of 2013, the Egyptian Exchange has incurred losses of EGP 20 billion as the capital market has reached around EGP 355 billion by the end of the Q1/2013, compared to an earlier quarter's EGP 375 billion, representing a (...)
Egypt's leading carpet manufacturer Oriental Weavers Group (OW) (ORWE.CA), said it has allocated investments worth EGP 600 million to carry out its expansion strategy for the upcoming period. OW's expansion strategy includes opening up new (...)
The Finance and Economic Affairs Committee at the Shura Council will hold a closed meeting on Sunday to discuss the amendments suggested by the Ministry of Finance to the banking law no. 88 of 2003.
After approving the Sukuk law, the Shura Council (...)
In a week, Marseille Almasreia Alkhalegeya For Holding Investment (MAAL) has managed to be on the top 7 active NILEX-listed firms as its volume of trades have hit 662 thousand securities worth EGP 2.76 million.
Al-Moasher for Programming and (...)
Masr Capital said it targets opening up 3 new branches in Senegal, Qatar and Bahrain within this year. The 3 new branches come as a part of Masr Capital's strategy which targets having 15 branches by the year of 2015 in which the investments would (...)
The same-day trading mechanism which is known as T+0 will return to the Egyptian market very soon, by the end of next June at the maximum, the financial regulator chief said on Tuesday.
Dr. Ashraf El-Sharkawy - the Chairman of the Egyptian Financial (...)
The Egyptian financial regulator (FSA) is confirming its plans to continue reviewing the final framework in order to activate the exchange-traded funds (ETFs) in the Egyptian market, the Chief said on Monday.
Dr. Ashraf El-Sharkawy, Chairman of the (...)
The tie-up project between the Egyptian and Turkish bourses will be finalized after Turkey manages to introduce the Fix Hub mechanism for its market.
Ahmed El-Sayed, the Deputy Head of Research & Markets Development Department at the Egyptian (...)
The Egyptian market is likely to go through an inevitable downturn driven by the political developments the country witnesses nowadays, said capital market experts.
The experts expected the EGX benchmark's fall likely to exceed 5% through Sunday's (...)
Egyptian Prime Minister Hisham Kandil has witnessed the launch of the mutual fund directed towards making investments in SMEs ‘Bedaya I' in which Al Ahly Development and Investments (ADI) has signed a protocol with the fund issuer the Mutual Fund (...)
In a release to the Egyptian Exchange on Tuesday, Orascom Construction Industries – OCI (OCIC.CA) said it OCI N.V.'s share exchange offer will be presented to Egyptian Financial Supervisory Authority (EFSA) noting that the offer will include all the (...)
Saudi Industrial Projects Company (SIPCO) ‘Pepsi-Cola Bugshan' will go through a merger with Pepsi-Cola Egypt within the course of 2013. The Saudi company said the merger shall be after doing the evaluation process for the Pepsi-Cola Egypt's assets, (...)
Misr for Central Clearing, Depository and Registry (MCDR) said on Thursday it has signed the tie-up contracts with its Turkish counterpart. The tie-up project targets making a joint-trading bourse linking between the Egyptian Exchange and Istanbul (...)
Masr Capital said it targets the completion of its assessment process of the phases to build up the world's third biggest fertilizer plant within the coming three months. The firm pointed out that the investment cost of the fertilizer plant amounts (...)