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CIB appoints Ahmed Issa to head Retail Banking
MOVES- CIB has appointed Ahmed Issa as CEO of consumer banking, according to a bourse statement. Issa, who succeeds Mohamed…
Speed Round
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Central Bank extends tourism relief program
The CBE has decided to extend the debt-relief program for the tourism sector for an additional year to February 2018,…
Word Bank aid will be used in part to pay off arrears to IOCs
The government will pay arrears to international oil companies in part through the second tranche of the USD 3 bn…
Rumors abound on upcoming fuel subsidies reform
Speculation is rife about what’s coming after the fuel smart card system. The government denies yesterday media reports that it…
House postpones discussions on automotive directive pending further study
House puts discussion of automotive directive on hold pending further study: The House of Representatives’ Industry Committee has decided to…
Core inflation rate hits 25.9% in December, food price increases add pressure to headline rate
Inflation rates hit mid-twenties, enter uncharted territory: Egypt’s headline inflation rate closed 2016 by recording 23.3% in December, up from…
Egypt is an attractive market -Franklin Templeton
Franklin Templeton’s MENA CIO explains why Egypt is attractive: The economic trajectory, valuations and the “undervalued” currency make Egypt have…
Ahmed Abou Doma tapped as head of Saudi Arabia’s Mobily
MOVES- Saudi’s Etihad Etisalat (best known as Mobily) has tapped Mobinil and GTH veteran Ahmed Abou Doma as chief executive…
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