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Standard Chartered names first Egypt CEO
Gad has more than 22 years of experience in the industry, and previously headed the bank’s branch in Qatar
CIB + Juhayna earnings jump in 3Q, 9M 2023
CIB saw its net income jump 89% y-o-y in 3Q 2023, while Juhayna’s net income more than doubled
CBE gets c. USD 1 bn from Chinese Development Bank
The loan will help finance projects agreed upon in the Belt and Road Forum
Our net foreign assets position deteriorated in September
The country’s net foreign assets positions approached record highs in September
SODIC + Mashreq earnings jump in 9M 2023
Real estate developer SODIC’s net income rose 26% y-o-y to EGP 548 mn in 9M 2023, it said in a…
CBE loosens credit card restrictions for users abroad
The rule change comes following significant volatility in the parallel currency market that saw the EGP fall to a record…
S&P cuts three local banks credit rating days after downgrading sovereign rating
The rating agency cut Egypt’s sovereign credit rating deeper into junk last week due to the increasing FX shortage and…
Siemens, Intro Group to build power plants in Egypt, the region. PLUS: News from the SCZone, Cheiron, Qasatli, Mashreq, and EdVentures.
The two firms will establish facilities producing a combined 300 MW of power by 2030
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