Egypt's reserve money (MO) rose to 1.581 trillion Egyptian pounds ($51.144 billion) at the end of the third quarter of the year from 1.496 trillion pounds as of December 2022, a recent central bank data showed.
The MO consists of currency in (...)
Egypt's second largest public bank, Banque Misr posted profit before taxes worth 15.696 billion Egyptian pounds ($508.3 million) in the first quarter of the year.
Earlier, the bank registered pre-tax profit worth 9.790 billion pounds in the first (...)
Egypt's third largest public state-lender, Banque du Caire (BdC) reported on Wednesday a 41 percent year-on-year growth in net profit for the first half of the year.
Net profit recorded 2.6 billion Egyptian pounds ($84.1 million) throughout the six (...)
Egypt's central bank reported on Wednesday a growth in the country's reserve money (MO) to 1.502 trillion Egyptian pounds ($48.5 billion) at the end of this March from 1.496 trillion pounds as of December 2022.
Reserve money (MO) consists of (...)
Egypt's central bank (CBE) has released on Saturday its financial inclusion indicators for 2022, as the figures showed that the country's financial inclusion rates have improved between 2016 and 2022 by 147 percent.
The report added the overall (...)
Commercial International Bank (CIB), one of Egypt's largest private banks, is offering three-year certificates of deposit at 22 percent, it said in a statement on Monday.
The move came few days after the central bank hiked rates by 200 basis points (...)
The National Bank of Egypt and Banque Misr issued on Sunday two savings certificates of deposits (CDs) for three years, with fixed yield of 19 percent and another one with a declining yield of 22 percent, central bank's announcement said.
The second (...)
Abu Dhabi Islamic Bank Egypt (ADIB-Egypt) reported on Sunday a 51 percent year-on-year growth in net profit to 2.190 Egyptian pounds ($70.8 million) in 2022.
Customers' deposits also rose 28 percent to 97.6 billion pounds, while financing portfolio (...)
Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) said on Sunday it is launching a new sukuk unit worth 10 million Egyptian pounds ($328,103) in capital.
During a press conference in Cairo on Sunday, ADIB Egypt CEO Mohamed Aly said the bank had been (...)
Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) plans to launch its first digital bank as it seeks to get the Egyptian central bank's approval in the coming period, its CEO Mohamed Aly said on Sunday.
Like many lenders in the Middle East region, ADIB (...)
Egypt's gold reserves, a major component of foreign cash reserves reached $7.372 billion at the end of February, slightly lower from $7.773 billion in January, the Central Bank of Egypt (CBE) said on Sunday.
The foreign currencies' value included in (...)
Egypt's domestic liquidity increased by 335 billion Egyptian pounds to reach 7.737 trillion pounds ($252,6 million) at the end of January 2023, up from 7.402 trillion pounds at the end of December 2022, central bank's statistical figures revealed on (...)
Al Baraka Bank – Egypt reported on Sunday profit before tax of 2.655 billion Egyptian pounds ($87.1 million) during 2022, up from 1.746 billion pounds a year earlier.
Net profit recorded 1.755 billion pounds in 2022 from 1.132 billion pounds in (...)
Modern green products recycled from human waste are excellent – and more importantly, safe fertilizers for agriculture, to address the climate crisis, biodiversity loss and pollution, and to meet humanity's need to transition to a circular economy, (...)
Minister of National Security in the new Israeli government coalition, Itamar Ben Gvir, and leader in Israel's far-right Jewish Power party, stormed Al-Aqsa Mosque on Tuesday, hours after he assumed office, in conjunction with the death of a (...)
Amr Talaat, Minister of Communications and Information Technology, met with Ajit Gupte, Ambassador of India to Cairo on Tuesday.
During the meeting, they discussed mechanisms to enhance joint cooperation between Egypt and India in the sector of (...)
The mobile market awaits a partial breakthrough as the government promises to release all goods stuck at ports. The mobile market has suffered a shortage recently and high prices which affected sales negatively.
The Egyptian market sold about 13 (...)
Forbes magazine selected 11 Egyptian startups among the 50 most attractive companies for financing in the Middle East and North Africa region in 2022, and the Information and Decision Support Center published a new infographic, in which it dealt (...)
Minister of Communications and Information Technology Amr Talaat witnessed the graduation ceremony of the 2022 batch of WE Applied Technology School in the Samsung International Scholarship for Coding and Programming.
It is one of the most important (...)
The electronic market company eAswaaq Misr, affiliated to e-finance, has signed a memorandum of understanding with Ready Parts, a subsidiary of Gabbour Auto, to add the latter's products, including spare parts and car accessories, to the former's (...)
Egypt's central bank on Saturday announced the schedule of its meetings that determine the course of monetary policy for 2020.
The Central Bank of Egypt's Monetary Policy Committee (MPC) will hold eight meetings during the year and other meetings if (...)
The mobile market suffers from a state of stagnation due to a significant increase in prices and a scarcity of supply of devices, due to the halt in imports and the high exchange rate of the dollar.
Walid Ramadan, deputy head of the Mobile and (...)
Exits MENA locks down the year with a new acquisition deal in the Egyptian healthtech industry, with CheckMe acquiring a majority stake in Doctor Online. This acquisition presents a crucial indication of the continued growth of healthtech in the (...)
Aaron Tsai, Regional Director of the Sales Department in the Middle East for Asus International, said the Egyptian market acquired 10% ($1.9bn) of Asus investment in 66 countries around the world, estimated at a total of $19bn in 2021.
Tsai added, (...)
The Suez Canal Authority (SCA) is in the process of acquiring South Red Sea Shipyard company, which specialises in building super yachts, sources close to the deal told Daily News Egypt.
The sources added that the SCA has already completed the (...)