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The National Bank of Egypt (NBE) will not be raising interest rates on personal loans taken out before the CBE’s decision to hike interest rates by 200 bps last week, the bank’s head of Retail and SME Banking tells Al Ahram. The interest rate hike, he adds, will only be applied to commercial loans. The […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Egyptian Steel negotiating for EGP 4 bn facility with banking consortium
Ahmed Abou Hashima’s Egyptian Steel is in talks with a banking consortium to provide it with EGP 4 bn to finance the construction of its EGP 5.9 bn construction material complex in Sohag, Al Mal reports. The consortium reportedly includes the National Bank of Egypt, Banque Misr, CIB, and the Arab African International Bank, an […]
Posted inBanking + Finance
Yields on three and nine-month T-bills rise on Sunday
Average yields on Egypt's three and nine-month treasury bills rose at auction on Sunday. Three-year T-bill yields grew to 20.478% from 19.709% at the previous auction, while nine-month bills rose to 20.519% from 19.493%, according to data from the CBE.
Posted inLegislation + Policy
Civil Service Act exec regs out in official gazette
The executive regulations governing the Civil Service Act were published in the official gazette on Sunday, after the Ismail cabinet signed off on them on Thursday, Youm7 says.
Posted inEgypt Politics + Economics
Rights lawyer Khaled Ali trial begins today
The opening session in the trial of human rights lawyer and former presidential candidate Khaled Ali’s trial on charges of offending public morals with an “obscene hand gesture” will be held today, Al Mal reports.
Posted inON YOUR WAY OUT
A blockbuster year for thrillers and suspense fiction
Still searching for summer and early fall reads? It’s going to be a year for blockbusters, with summer and fall set to see new releases from: Dan Brown (“Origin”) John Grisham (two out this year — Camino Island next month and an unnamed thriller on 24 October) Stephen King (“Sleeping Beauties,” written with his son […]
Posted inON YOUR WAY OUT
Health Minister presents population reduction plan
Health Minister Ahmed Rady presented yesterday a plan to reduce Egypt’s rising population to Prime Minister Sherif Ismail and other cabinet members, according to a Cabinet statement. Rady’s plan focuses on providing family planning and reproductive health services= and development projects that empower women.
Posted inON YOUR WAY OUT
We can’t be trusted to play with gender selection
OH NO. Please, God, do not grant Egyptians power over their genetics: Meanwhile, population control could turn us into Children of Men if this “gender selection” trend continues to flourish. Ahram Online is running a feature on the popularity of Egyptian couples using biotech to select the gender of their embryos. And because it is […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0276 | Sell 18.1306 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Sunday): 13,205 (+0.9%) Turnover: EGP 638 mn (40% below the 90-day average) EGX 30 year-to-date: +7.0% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
26 May-23 June (Friday-Friday): Window for firms to submit expressions of interest to the European Bank for Reconstruction and Development for consulting on Egypt’s oil and gas sector reform, London, UK. 07-09 June (Wednesday-Friday): 19th Annual Africa Energy Forum, Copenhagen, Denmark. 11 June (Sunday): Egyptian Private Equity Association’s annual Sohour, Four Seasons Hotel Nile Plaza, […]