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Egypt seeks to develop technology centres to boost national industries
Egypt is keen on developing the technological centres to serve as the technical arms of the national industry in order to boost competitiveness of Egyptian industrial products to meet the needs of…
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Increased Egyptian expat remittances positive for economy: Moody’s
Egypt’s recent increase in its expat remittances has had a positive effect on recipient households, on the broader economy as well as Egyptian banks as it supports their deposit-based funding profile…
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Egypt to hold 1st training program for municipal African officials
The National Institute for Governance and Sustainable Development (NIGSD) - the training arm of the Ministry of Planning and Economic Development – announced the launch of the first training program…
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Joint Egyptian-Jordanian Higher Committees boost bilateral trade to $514M in 9M
Volume of trade exchange between Egypt, Jordon during the first 9 months of 2020 increased to $514 million on the back of Joint Egyptian-Jordanian Higher Committees continuous efforts, according to…
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Engineering Export Council records growth rate of 9.8% in 11 months
Egypt’s engineering exports increased by 9.8 percent to record $1.8 billion in the first eight months (8M) of fiscal year (FY) 2020/21, compared to $1.6 billion during the same period of FY 2019/20.
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Egypt’s bank deposits rise to EGP 5.126 trillion in November
Egyptian bank deposits rose in November to 5.126 trillion Egyptian pounds ($325.7 million) from 5.088 trillion pounds in October, according to data released by the country’s central bank.
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Advanced economies, emerging markets growth gap expected to widen 22% by 2020: IMF
The gap between advanced economies and emerging markets in economic growth will widen by 22 percent between the years 2020 and 2022, said Geoffrey Okamoto, the First Deputy Managing Director at the…
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Banque du Caire receives the highest credit rating of B+ from CI Rating
Rating agency Capital Intelligence (CI Rating) has affirmed Banque du Caire’s B + rating for its creditworthiness with a stable outlook, said its chairman Tarek Fayed on Sunday.
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National Bank of Egypt plans South Sudan subsidiary, Saudi branch
The National Bank of Egypt, the country’s biggest state-run lender, plans to set up a subsidiary in South Sudan and open new branch in Saudi Arabia, a senior official said on Sunday.
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Banks in Egypt seen an EGP 1.166trn increase in financial position during 2020: CBE
The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in the local market, other than itself, rose by EGP 1.166trn year-on-year (y-o-y).
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