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New regulatory framework for SME lenders announced
REGULATION WATCH- SME lenders will need to be set up as joint-stock companies with a minimum capital of EGP 30…
Egypt adds USD 800 mn to foreign reserves in October
Egypt adds USD 800 mn to foreign reserves in October: Egypt’s foreign reserves grew for the fifth consecutive month in…
Egypt’s private sector continues to expand in October
Egypt’s non-oil private sector grew in October at its strongest rate since December 2014 as rising output and new orders…
Speed Medical triples net profit
EARNINGS WATCH- NileX-listed Speed Medical tripled its net profit in 9M2020 to EGP 49.1 mn from EGP 16.4 mn in…
Delivery service OTO expands into Egypt
STARTUP WATCH- US-based delivery service OTO has expanded its operations to Egypt, Saudi Arabia, UAE, Kuwait, Bahrain, and Oman looking…
Banque Misr to establish first representative office in Kenya
Banque Misr is in the process of applying for licensing to establish a rep office in the Kenyan capital of…
HSBC participates in USD 2.2 bn loan for New Capital Business District
DEBT WATCH- China State Construction locks down USD 2.2 bn loan with HSBC, others for new capital business district: HSBC…
Misr Clearing offloads 70% stake in Makkasa Sport to Estadat
M&A WATCH- MCDR offloads 70% stake in Makkasa Sport to gov’t-owned Estadat: Misr for Central Clearing and Depository (MCDR) has…
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