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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…
THIS EVENING: The Central Bank of Egypt loosens reins on credit card usage abroad
Good afternoon readers, and happy Thursday. We are glad that there is some slightly positive news to share on the…
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…
IMF chief warns of economic toll of Gaza war, humanitarian crisis deepens as fuel supplies run out
Plus: El Sisi meets Macron and Israel’s war on the UN
EBRD to lend USD 50 mn to copper manufacturer UMC
The loan will fund UMC’s FX liquidity for raw material imports
Last Night’s Talk Shows continue to be dominated by the Israel-Hamas war
The talk show hosts focused on the airstrike that hit a Gazan hospital and the fallout from the attack
CBE curbs credit card use amid FX crunch
News reports say that credit card users will only be able spend USD 250 of FX a month while in…
It was expected: Moody’s downgrades credit rating of five local banks
The move follows the agency’s decision to downgrade Egypt’s sovereign credit rating to Caa1 last week
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