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Cement manufacturers remain plagued by their longstanding oversupply problem, with existing production lines during 2020 having the capacity to produce 38 million tonnes more than the country needs,…
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Commercial International Bank (CIB), Egypt's largest private bank, increased its loan loss provisions by 60% in the third quarter after a central bank review raised compliance concerns that led to the…
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Commercial International Bank reported net income of 2.35 billion Egyptian pounds for 3Q2020 as it released its first set of financial results after CIB Chairman Hisham Ezz Al-Arab left office in the…
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International Finance Corporation (IFC), a sister organisation of the World Bank, signed a partnership agreement with the American Chamber of Commerce in Egypt (AmCham) that aims to help Egyptian…
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Although central banks across the world have played a vital role in easing financial conditions, which has contributed to averting a catastrophic downturn amid the COVID-19 crisis, they have to do…
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The World Bank (WB) is eyeing further cooperation on development programmes with its strategic partner Egypt, said WB Country Director for Egypt, Yemen and Djibouti Marina Wes.
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Egypt's President Abdel-Fattah al-Sisi has ordered the continuous support to the national industrial sector, especially in the field of construction, presidency spokesman Bassam Rady said in a…
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The Egyptian banking sector’s FX liquidity has recovered from pandemic-induced lows, thanks to the return of foreign inflows to capital markets, Fitch Ratings said in a report yesterday.
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Three more military-affiliated companies will open up to private ownership in 2021, Sovereign Fund of Egypt CEO Ayman Soliman told Bloomberg.
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Egyptian exporters looking to get export subsidies should register on the Tax Authority’s electronic invoicing system before July, Tax Authority boss Reda Abdel Kader said, according to local press.
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