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TMG mulls new project in the North Coast. PLUS: News from Telecom Egypt and the CBE
TMG’s shares rose 10.3% yesterday to close at EGP 37.5
FX reserves see slight uptick in January
The country’s reserves inched up to just under USD 35.25 bn by the end of January
Savers pour EGP 565 bn into high-yield CDs. PLUS: News from EFG Hermes, Flat6Labs, Azimut, EgyptAir
NBE has racked up some EGP 365 bn, while Banque Misr has attracted EGP 200 bn
Our net foreign liabilities inch up to new record high
Commercial banks drove the headline figure, with their net foreign assets dropping to a deficit of USD 16.2 bn
Gov’t introduces bookkeeping scheme to account for FX price differentials
The difference between the official and parallel market exchange rates that the rules account for stand at an annual average…
CBE hikes rates for first time since August
The CBE expects inflationary pressures to persist due to geopolitical uncertainty, maritime trade disruptions, and fiscal consolidation measures
The Central Bank of Egypt hikes interest rates by 200 bps + We’re still waiting to hear from IMF
Good morning, friends, and happy Friday. We hope you have a warm and restful weekend on these very chilly days.…
THIS EVENING: Gov’t is not selling Ras El Hekma land for USD 22 bn
Good afternoon, friends, and happy Thursday. The weekend is finally here, but we’ll keep our phones close, as we are…
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