Latest in Tag: Banking Highlight

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Latest in Tag: Banking

Middle East investment banking fees up 20% in 2013

Reuters – Investment banking fees in the Middle East grew 20% last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722m in 2013, the highest since 2010, from $603m in 2012 – though they were still only about half …

Daily News Egypt

A big question mark on the Islamic finance industry

By Muhammad Zubair Mughal Apparently, it is a matter of pleasure that global volume of Islamic finance industry has crossed $1.3tn approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes.  According to a careful estimate, there are more than 2000 Islamic Financial Institutions offering Islamic Banking, Islamic Insurance …

Daily News Egypt

EFG Hermes reports a 66 percent drop in net profits during Q2

By Islam Serour EFG Hermes released the Consolidated Financial Report for the second quarter of 2012. The report concludes that the company’s net income was EGP 27 million on total consolidated revenues worth EGP 477 million, denoting 66 percent decline, in comparison to the same period 2011. Investment Banking revenues account for 41 percent of …

Daily News Egypt

Computer virus infects Lebanon

A computer virus in Lebanon is threatening to destroy the country’s banking system, the Lebanese Daily Star reported. The virus, called Gauss, is rare in size and focus. The size of the attack is so large that experts say only a nation-state has the means to create an attack of this sophistication.  The attack was …

Daily News Egypt

SMEs receive special treatment from the National Bank of Egypt

By Walid Abdelazeem The National Bank of Egypt (NBE) revealed that by the end of 2011, the bank will have financed small and medium enterprises (SMEs) to a total amount of EGP 1.5 billion. Director of SME Finance Department at NBE, Soha Soliman, stated that funding for the SMEs portfolio amounted to EGP 3.3 billion …

Daily News Egypt

US punts on Goldman Sachs prosecution

Washington (AFP) — Goldman Sachs escaped prosecution over its sales of high-risk mortgage securities Friday when the US Justice Department closed a probe without action despite a damning report on the bank’s practices. Following a two-year inquiry, senators concluded in April 2011 that the Wall Street investment banking giant misled clients ahead of the US …

Daily News Egypt

Education financing solutions surface as academic year approaches

By WaleedAbd El-Azeem This year Ramadan coincided with academic preparations for the new semester, as students apply for private universities and schools. Banks are trying to seize the opportunity by offering financing solutions for tuition. The United Bank is at the top if the list of banks offering education loans, with an upper limit of …

Daily News Egypt

Government attracts funding originally allocated for SMEs

By Nasser Youssef The government’s expansion of high interest bonds and treasury bills led to a decrease in financing for small and medium sized enterprises (SMEs), the support of which the state claimed to be the primary goal of the post revolution government. The state resorted to the banking system in order to close the …

Daily News Egypt

Banking experts meet Morsy to expose sector’s corruption

By Mahmoud Salah El-Din Bankers, members of the group Central Accounting Apparatus Observers Against Corruption (CAAOAC), and President Mohamed Morsy will hold a meeting within days in order to discuss corruption in the banking sector. Bankers and members of the CAAOAC will deliver a memorandum to the President that contains a Central Accounting Apparatus’ (CAA) …

Daily News Egypt