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EGOTH in talks with banks for EGP 400 mn loan to renovate Sofitel Winter Palace
The Egyptian General Company for Tourism and Hotels (EGOTH) is in talks with unnamed local banks for a EGP 400…
EM economies are under stress as investors dump debt, flock to rising USD
EM economies under stress as investors dump debt, flock to rising USD: Emerging market debt and equity outflows have hit…
CBE cuts interest for three of its financing initiatives, raises ATM withdrawal cap
REGULATION WATCH- CBE cuts interest for three of its financing initiatives: The Central Bank of Egypt (CBE) has reduced the…
US stocks suffer worst week since 2008 as global economic outlook darkens
US equities suffered their worst week since 2008 last week as the financial and economic consequences of the covid-19 outbreak…
FRA orders mortgage lenders, factoring and leasing companies to give clients six-month grace period
Mortgage lenders, factoring and leasing companies to give clients six-month grace period: The Financial Regulatory Authority has ordered mortgage lenders,…
Central Bank of Egypt issues new debt relief initiative for individuals
CBE offers new debt relief initiative for individual borrowers: The Central Bank of Egypt (CBE) on Monday launched a new…
El Sisi approves EUR 53.2 mn financing agreement with IFAD
President Abdel Fattah El Sisi has ratified a EUR 53.2 mn financing agreement with the International Fund for Agricultural Development…
El Sisi reviews draft FY2020-2021 budget
BUDGET WATCH- President Abdel Fattah El Sisi reviewed the FY2020-2021 draft budget with senior cabinet ministers yesterday, an Ittihadiya statement…
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