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THIS EVENING: Banque Misr + NBE launch new USD certificates
Good afternoon, friends. We hope that you’re surviving the heat on this blackout-filled afternoon and have managed to ease back…
Last Night’s Talk Shows: Rolling blackouts continue to dominate conversation on the airwaves
Officials will hold a press conference soon to address the issue
Taqa Arabia shareholder sells 20% stake. PLUS: Beltone’s SODIC office building buy, Qalaa to study green aviation fuel with French firm — and more
The block trade comes three weeks after the company’s shares began trading on the EGX
CIB net income more than doubles in 2Q 2023
The bank’s net interest income climbed 86% y-o-y to more than EGP 13 bn
Global banks are pricing in a soft landing as greenback weakens
But corporate defaults are expected to rise as high rates bite
Beltone’s record EGP 10 bn capital increase closes, sees foreign institutions take stakes
Second phase of rights issue was c. 5.5x oversubscribed
Foreign investors are interested in Banque Misr’s digital bank
The bank has applied for a digital banking license following the new regs that were published last week
e-Finance mulls digital bank license. PLUS: Canada to provide CAD 10 mn loan to bolster Egypt’s food security
The central bank last week issued updated licensing rules for digital banks
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