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Loan loss provisions hit bank profits in1H2020
Egyptian banks’ profits shrank by 20% in 1H2020 to an aggregate EGP 50.05 bn in comparison with EGP 62.49 bn…
Remittances rise 11% in July
Remittances from Egyptians working abroad rose 11% to USD 2.9 bn in July, up from USD 2.6 bn reported in…
EastMed Gas Forum charter signed by founding members
Egypt takes a major step towards its regional energy hub ambitions with the formalization of the EastMed Gas Forum: The…
Elves closes in on “substantial” series A funding ahead of El Gouna move
STARTUP WATCH- AI startup Elves is closing in on “substantial” series A funding as it gears up to move its…
Algebra’s Ziad Mokhtar looks forward to returning to roots as a tech entrepreneur
EXCLUSIVE- MOVES- Ziad Mokhtar, Algebra Ventures’ co-founder and managing partner, is phasing out his involvement in the firm, announcing overnight…
Alex Angels postpones launch of EGP 100 mn fund to November 2020
STARTUP WATCH- Alex Angels is setting up an offshore vehicle to manage its EGP 100 mn startup fund. Alex Angels…
World Bank mulls financing part of USD 640 mn railway upgrade
DEBT WATCH- World Bank mulls financing part of USD 640 mn railway upgrade: The World Bank is studying a loan…
Ahli United Bank bid for AUB Egypt gets regulatory approval
M&A WATCH- Ahli United Bank gets regulatory clearance for bid to buy out minority investor: Ahli United Bank’s (AUB) full…
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