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The EGP gained around 2.5% on the greenback by the times bank tellers shut up shop for the day
Author Archives: enterpriseam admin
Posted inPrivatization Watch
Egypt pivots to broader private sector role in revised state ownership policy to be released next month
Companies earmarked for divestment will be merged with others in the same sector to create a more attractive asset base and financial standing
Posted inEconomy
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be renewed under the same existing terms
Posted inEnergy
Egypt pays credibility tax to keep its energy hub dreams viable
By allowing LNG cargoes to depart from Idku, the government is honoring existing contracts even when it comes at a financial loss
Posted inMoves
Axa Life Ins. Egypt taps Waleed Samy as new MD
Axa Life Ins. Egypt appointed Waleed Samy (LinkedIn) as managing director, following official approval from the Financial Regulatory Authority, according to a company statement(pdf). Samy is a long-time veteran of the Axa ecosystem, having served as the company's managing director of services and CEO of retail.
Posted inAlso on our Radar
Egypt inks agreements for USD 740 mn worth of new fertilizer projects
Plus: A USD 250 mn fix for Egypt’s pharma packaging bottleneck
Posted inPLANET FINANCE
Central banks shift from US Treasuries to gold and USD, flagging geopolitics as the top risk
Over 70% of the surveyed banks rank geopolitics as their top threat