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Strained Saudi-Egypt relations hinder Supply Ministry plans to expand wheat storage capacity
Strained relations with Riyadh have sent the Supply Ministry looking for alternative sources of funding for upgrades to its wheat…
Speed Round
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Trade deficit decreased by USD 9 bn in 2016 -sources
Egypt’s trade deficit was down by USD 9 bn at the end of 2016, Trade and Industry Minister Tarek Kabil…
NBE postpones issuing USD-denominated bonds
The National Bank of Egypt (NBE) is postponing a plan to issue USD-denominated bonds on the international market. The state-owned…
CIB approves Tier 2 capital loan of up to USD 300 mn
CIB board approves EGP 0.50 per share dividend, will seek USD 300 mn facility to augment tier two capital. The…
Banque du Caire gets wheels moving on its IPO
Banque du Caire has informed the EGX of its desire to list 562.5 mn shares at a par value of…
Finance Ministry finishes VAT executive regulations
The Finance Ministry has finished drafting the long-awaited executive regulations for the value-added tax and a draft of the document…
Central bank receives eurobond proceeds, issuance signals trust in Egypt’s reforms
The Central Bank of Egypt netted USD 4 bn on Tuesday as it collected the proceeds from the eurobond issuance…
Earnings season in America dominates international business headlines
It’s earnings season in America, with top global names reporting yesterday including Apple and Under Armour. The season in Egypt…
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