Tag: Egypt
NBK—Egypt’s 9M2022 net profits surges by 22.55% to EGP 1.29 billion on corporate credit...
National Bank of Kuwait—Egypt (NBK) has reported a net profit of EGP 1.29 billion for the first nine months of 2020, a 22.55% year-on-year...
Egyptian startup Grinta raises $8 million in seed funding to strengthen technology platform
Egyptian startup Grinta said Monday that it raised $8 million in seed funding led by Raed Ventures and Nclude as the company seeks to...
Egypt’s inflation accelerates to 16.2% in October on soaring food costs
The latest data from Egypt’s CAPMAS showed that annual urban inflation accelerated to a four-year high of 16.2% in October and economists expect it...
Intesa Sanpaolo, ALEXBANK to host agribusiness and climate change panel at COP27
Intesa Sanpaolo Group and its Egyptian subsidiary, the Bank of Alexandria (ALEXBANK) will host a panel on tackling the competitive dynamics for agribusiness and...
Egypt’s net foreign reserves rise slightly to $33.4 billion in October
Egypt’s net foreign reserves increased slightly for the second month in a row last month as the North African country awaits the increase in...
Saudi-based ICIEC and Egypt’s CIB to host bankability of climate adaptation projects panel at...
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) said Wednesday that it has joined forces with Egypt’s Commercial International Bank...
UAE’s Mashreq inks sponsorship deal with Egypt’s COP presidency ahead of COP27
UAE’s Mashreq said Tuesday that it signed an MoU with Egypt’s COP Presidency to formalize its participation at this year’s United Nations Climate Change...
Egypt devalues pound again, clinches $3 billion IMF deal
Egypt’s pound plunged to a record low against the dollar on Thursday after the central bank unveiled plans to move to a more flexible...
Abu Dhabi-owned SODIC seeks to acquire Orascom Real Estate for $125 million
Egyptian property giant Sixth of October for Development and Investment Company (SODIC) has submitted a non-binding offer to fully acquire Orascom Real Estate for...
Central Bank of Egypt plans to develop new currency indicator
Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...