Page 24 - Patrick Werr News Today

ARABINVESTMENTBANK-EGYPT/ (UPDATE 1):UPDATE 1-EFG Hermes eyes start-ups after AIB deal, CEO says

2 Min Read CAIRO (Reuters) -Egyptian investment bank EFG Hermes Holding is targeting minority stakes in start-ups after its acquisition of a majority stake in state-owned Arab Investment Bank (AIB), its chief executive said on Sunday. FILE PHOTO: The building of EFG-Hermes, also known as Egyptian Financial Group Hermes Holding Co SAE, is seen at the Smart Village in the outskirts of Cairo, Egypt, October 27, 2015. REUTERS/Asmaa Waguih The acquisition of the 51% stake, approved by the cabinet on...

By Reuters Staff 2 Min Read (Corrects Sunday story to say “surplus of 1.5%” (not 5.1%) in paragraph 5; adds draft budget revenue, expenditure) FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) -Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy o...

Egypt's central bank left its overnight interest rates unchanged on Wednesday, saying inflation had stabilised and the economy was showing signs of recovery after more than a year of the coronavirus pandemic.

By Patrick Werr CAIRO, April 26 (Reuters) – Egypt’s central bank is likely to leave its overnight interest unchanged on…

Article content CAIRO — Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that runs to June 2022, according to a copy of the draft budget seen by Reuters. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, the draft budget said. We apologize, but this video has failed to load. Try refreshing your browser, or Egypt projects 7.1% increase i...

By Reuters Staff 2 Min Read FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) -Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget. The government projected raising 66 billion pounds of this by selling international bonds, down fro...

4/25/2021 (Adds analyst quote) CAIRO, April 25 (Reuters) - Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that runs to June 2022, according to a copy of the draft budget seen by Reuters. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, the draft budget said. The cabinet approved the draft, which targets a budget deficit of 6.6%, on Marc...

4/25/2021 (Adds finance ministers comments to parliament) CAIRO, April 25 (Reuters) - Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, said the draft seen by Reuters. Finance Minister Mohamed Maait told parliament on Sunday that 2...

By Reuters Staff 2 Min Read FILE PHOTO: Central Bank of Egypts headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany CAIRO (Reuters) - Egypt’s current account deficit widened to $4.8 billion in October-December from $3.2 billion in the same period in 2019, according to central bank figures released on Monday. Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 bil...