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Bank Audi Egypt ≠ FAB in 2Q2021
First Abu Dhabi Bank is going to have to wait a while longer until it finalizes its acquisition of Bank…
Current account deficit widens to USD 4.8 bn in 2Q2020-2021
Egypt’s current account deficit widened to USD 4.8 bn in 2Q2020-2021, from USD 3.2 bn in the same period last…
Negligence to blame for Sohag train crash -public prosecution
The public prosecution has found that gross negligence by railway staff was responsible for last month’s deadly train collision in…
GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel’s MNT Investments
GB Auto is selling down its indirect stake in Netherland-based subsidiary MNT Investments to unnamed foreign investors in a EGP…
NBG is officially saying goodbye to Egypt
The National Bank of Greece (NBG) is set to terminate its activities in the Egyptian market after having submitted a…
More financial inclusion for pensioners + PayTabs, valU services coming to LuLu
Pensioners will soon have access to “new electronic channels” to receive and use their monthly payments under an MoU the…
Under pressure
Egypt’s banks could face further pressure on net income in 2021 due to the lower interest rate environment and a…
EFG, SFE closing in on AIB acquisition + El Salhiya is on the block
The Sovereign Fund of Egypt and EFG Hermes look set to wrap up their acquisition of Arab Investment Bank this…
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