Elsayed Solyman

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Subir Lall to succeed Chris Jarvis as IMF mission director in Egypt

Egypt will soon get a new IMF mission director, as current chief Jarvis’ three-year term in the country has come to an end. Jarvis is scheduled to pass the torch on to former Portugal Mission Chief Subir Lall, who previously served as mission chief for Germany, Indonesia, Korea, Malaysia, and the Netherlands. The Brown and …

Elsayed Solyman

Egypt bourse lifts restrictions on GDR deals as FX crunch eases

Egypt’s bourse on Tuesday officially eliminated restrictions on GDR deals, in a sign that the FX crunch that hit the most populous Arab country has been solved, according to a press release issued by the Egypt Exchange. The bourse said that its board of directors decided to remove restrictions that force the proceeds of global …

Elsayed Solyman

NI Capital, Ayady, Post for Investments launch EGP 50m micro-finance fund

NI Capital, the investment arm of the National Investment Bank, Ayady for Investment and Development, and Post for Investments have joined forces to establish Tamweely for Microfinance with an issued capital of EGP 50m and an authorised capital of EGP 500m, according to a press release on Tuesday. According to the statement, Tamweely for Microfinance …

Elsayed Solyman

EGX profits stand at EGP 103m in H1 2017

Egypt’s stock market’s net profit came in at EGP 103m in the first half (H1) of 2017, the stock exchange’s (EGX) chairperson Mohamed Omran said on the sidelines of a press conference in Cairo on Sunday. According to Omran, the exchange net profit in 2016 came in at EGP 101m. Omran, who was speaking about …

Elsayed Solyman