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Military Production Ministry waives bank-issued LG requirement for affiliated companies
Companies affiliated with the Military Production Ministry will be providing letters of guarantee officiated by the state, rather than banks,…
Banking
Alexandria Portland Cement approves EGP 200 mn loan
Alexandria Portland Cement’s board approved a EGP 200 mn revolving loan facility from HSBC to finance working capital, capex, and…
NEST to delist, approves buyout plan to delist
Real estate firm North Africa Company for Real Estate Investment’s (NEST) is planning to delist, with its extraordinary general assembly…
United Bank of Egypt looking to settle EGP 500 mn in overdue loans
The United Bank of Egypt is looking to settle EGP 500 mn in overdue debts with its clients in 4Q2017,…
Al Ahli to sell stake in Egyptian Resorts
Al Ahli Capital is offloading its 9% stake in the Egyptian Resorts Company by the end of the year, according…
EIB agrees to lend Banque Misr USD 500 mn
The European Investment Bank (EIB) agreed last week to lend Banque Misr USD 500 mn that will be used for…
Barclays getting a name change to Attijariwafa Egypt
Barclays outlets in Egypt be rebranded Attijariwafa Egypt in November, according to Al Borsa. Morocco’s Attijariwafa bought Barclays Egypt operations…
Banque Misr plans to exit investments worth EGP 10 bn in FY2017-18
State-owned Banque Misr is planning to exit private equity investments worth EGP 10 bn during FY2017-18, Vice Chairman Akef El…
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