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Egypt’s banking sector is optimistic about change

Recent improvements seen in the stock market and decreases in the cost of insuring government debt have reflected positively on the feelings of those working and operating within the sector, who recently decided to decrease return rates on Treasury bonds by 1%

Daily News Egypt

Costs of future government borrowing bogged down by uncertainty

Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.

Daily News Egypt

Egypt: Banks attracting Gulf investors

  By Robert Tashima Despite an uncertain political climate and a sluggish economic recovery, the long-term prospects of Egyptian banks are attracting attention from their Gulf counterparts. Two recently announced acquisitions have brought the sector back into the headlines on a positive note, helping offset a recent ratings downgrade. While the transactions also represent the …

Daily News Egypt

Egypt struggles to boost agriculture and livestock wealth

By Mohamed Gamal In a continuing effort to promote the agricultural sector, Egyptian officials agreed with Qatari businessmen to explore investment opportunities in the Egyptian agricultural sector. Last Friday, Prime Minister Hesham Qandil held talks with a Qatari delegation headed by Sheikh Nasser Bin Mohammed Al Hajri, CEO of Hassad Food, who expressed interest in …

Daily News Egypt

National Bank of Egypt to finance tourist projects

By Walid Abdelazim An official at the National Bank of Egypt (NBE) stated that the bank is currently conducting studies into providing an additional EGP 300million for tourist projects in Marsa Alam and Taba. The official said that the NBE recently provided EGP 1million to the two cities, mostly for hotels to upgrade their insurance …

Daily News Egypt

Egypt government launches CD sale to citizens abroad

By Patrick Werr / Reuters CAIRO: Egypt’s government will begin selling three-year certificates of deposit (CDs) to Egyptians living abroad on Tuesday in a bid to reduce the country’s balance of payments shortfall and help fund its budget deficit. A year of political turmoil has eaten into key sources of foreign exchange for Egypt by weakening …

DNE

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