• Thursday, 8 April 2021

    More financial inclusion for pensioners + PayTabs, valU services coming to LuLu

    Pensioners will soon have access to “new electronic channels” to receive and use their monthly payments under an MoU the Central Bank of Egypt (CBE) signed with the National Telecom Regulatory Authority (NTRA), according to a joint statement (pdf) yesterday....
  • Monday, 5 April 2021

    Slowly, but surely

    Egypt's foreign currency reserves inched up by almost USD 140 mn in March to end the month at USD 40.34 bn, according to figures released by the Central Bank of Egypt yesterday. Foreign reserves had risen USD 100 mn in...
  • Sunday, 4 April 2021

    Also on our Radar on 4 April 2021

    Speed Medical’s (SPMD) board of directors signed off on acquiring Prime Speed Medical Services in a EGP 1.8 bn transaction, after the SPMD board of directors approved fair values of both companies, according to an EGX statement (pdf). The acquisition...
  • Thursday, 1 April 2021

    Banks get a break on concentration risk regs

    Banks are getting another nine-month break from regulations designed to limit concentration risk in the industry, the Central Bank of Egypt (CBE) said in a circular (pdf) yesterday. The CBE is now extending the waiver on implementing the regulations until...
  • Wednesday, 31 March 2021

    Also on our Radar on 31 March 2021

    Egypt-Sudan electricity link gets a boost: Siemens Energy was awarded a contract to build two grid stabilization stations in Sudan that will help feed cross-border electric power to Egypt as part of the Egypt-Sudan Electric Interconnection Project. The stations come...
  • Tuesday, 30 March 2021

    Emaar loves Egypt + Edita’s big move in Morocco

    Emaar Properties plans to double its Egypt operations to 30% of its overall business, founder Mohamed Alabbar told Asharq Business, describing Emaar Misr as the “star performer” of 2020. This follows the company’s announcement earlier this week of its intention...
  • Sunday, 28 March 2021

    What we’re tracking on 28 March 2021

    Good afternoon, and welcome to the weekend+ edition, as much of the news day consisted of updates to main headlines that dominated the weekend news cycle. THE BIG STORY at home this afternoon is the ongoing saga of the Ever...
  • Thursday, 25 March 2021

    CBE to provide EGP 1 bn to set up new EGX fund

    A fund created yesterday to boost trading volumes on the EGX is getting EGP 1 bn as a preliminary allocation from the Central Bank of Egypt (CBE), CBE Deputy Governor Rami Aboul Naga tells Asharq Business. The allocation for the...
  • Tuesday, 23 March 2021

    Bank ABC is within arm’s reach of Blom Bank

    Bahrain’s Bank ABC is finalizing its acquisition of Lebanon’s Blom Bank’s Egypt arm after getting the green light from Bahrain and Lebanon’s central banks, according to a report in Al Mal’s print edition citing sources it says are in the...

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