Latest in Tag: egyptian pound Highlight

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Latest in Tag: egyptian pound


Will Egypt fail?

Soaring prices—the topic du jour in every conversation across all social classes—is just one indicator of the dire economic situation in Egypt. Such pressures are accompanied by stagnant wages, companies laying off employees, and extreme difficulties for someone trying to find a new job. This is compounded by tough measures that are on the way, …

Noaman Khalid

Dollar crisis, Egyptian pound’s devaluation the best thing to happen in Egypt in past 3 years: Elsewedy Electric managing director

Despite the decline in the value of the Egyptian pound against the US dollar in 2016 and the inflation rate reaching unprecedented levels, managing director of Elsewedy Electric Company, Ahmed Elsewedy, believes that this is the best thing that happened in Egypt throughout the past three years. In his interview with Daily News Egypt, Elsewedy …

Mohamed Farag

Devaluation of Egyptian pound increases EGX’s hopes for restoring ‘hot money’

Investment, initial public offering (IPO), and securities promotion managers have conflicting opinions over whether the devaluation of the Egyptian pound has restored the Egyptian Exchange’s (EGX) attractiveness for foreign investors, and whether the action encourages them to inject “hot money” into the stock exchange—like what had happened before 2011 and what happened mid-2013. The experts …

Mohamed Ahmed

Leading the way among traditional banks offering Sharia-compliant services is Banque Misr, with a total of EGP 22bn in Sharia-compliant transactions. (Photo:DNE)

EGP 65bn increase in deposits at banks in May

The total volume of deposits at banks operating in the Egyptian market, aside from the Central Bank of Egypt (CBE), increased by EGP 65bn in May, registering EGP 2.079tn from EGP 2.014tn in April. The CBE’s monthly bulletin on the performance of banks in the Egyptian market showed that the total volume of governmental deposits recorded …

Daily News Egypt

Leading the way among traditional banks offering Sharia-compliant services is Banque Misr, with a total of EGP 22bn in Sharia-compliant transactions. (Photo:DNE)

Loans granted by banks see EGP 60bn increase in May

The total loans granted by banks to their clients, aside from the Central Bank of Egypt (CBE), increased by EGP 60bn to register EGP 920.7bn in May, compared to EGP 860.7bn recorded in April. A CBE bulletin on the performance of banks over May stated that the size of loans granted to the government registered …

Daily News Egypt