BP signed an agreement with Royal Dutch Shell to process 650m cubic feet of gas, produced from its North Alexandria project, at Shell’s Borollos station for $0.3 per million feet. A senior source in the petroleum sector told Daily News Egypt that the process of linking the North Alexandria project to the station in[…]
During his meeting with the editors-in-chief of national newspapers on Friday, President Abdel Fattah Al-Sisi talked about the loan that Egypt is seeking from the International Monetary Fund (IMF). This was the first time that the president tackled the country’s negotiations with the IMF, as he ensured that economic reforms will be implemented and that[…]
The Central Bank of Egypt (CBE) launched Tuesday its regular weekly auction to sell US dollars to banks, asserting that it is not intending to launch any exceptional auctions. With a value of $120m, the auction fixed the US dollar exchange rate at EGP 8.78; as a result, banks will sell it at EGP 8.88.[…]
International economic expert Mohamed El-Erian said that Egypt’s success in handling the International Monetary Fund (IMF) loan is subject to the economic reform programme being written by Egyptians in order to take the citizens’ situation into consideration. El-Erian added, in an interview with TV anchor Lamis El-Hadidi on CBC channel from the United States (US),[…]
The size of Egypt’s foreign debt for the fiscal year (FY) 2015/2016 increased by $7.7bn to register $55.76bn at the end of June 2015, up from $48.062bn, according to the Central Bank of Egypt (CBE). The CBE announced on its website that the size of foreign debt increased in the FY’s fourth quarter by $2.3bn[…]
Construction of six new berths in an area 5km east of Port Said will be completed in February at a total cost of EGP 10bn, according to Ahmed Darwish, chairperson of the General Authority for the Suez Canal Economic Zone (SCZone). These new docking sites include three berths for containers, two berths for cars, and[…]
Three consulting firms have been chosen to value the land of the Suez Canal Economic Zone. The Suez Canal Economic Zone Authority chose Misr Capital, Al Nour Consulting Group, and Global Appraisal Tech (GAT) to undertake the task of valuing the Suez Canal Economic Zone lands, said chairperson Ahmed Darwish. Darwish announced earlier, during a[…]
Decision follows preliminary agreement with IMF on $12b loan Government is trying to boost reserves, overcome FX shortage Egypt picked four banks to manage a dollar bond issuance planned for 2016, part of the government’s effort to raise $21 billion over three years to shore up reserves and end a crippling hard currency shortage.[…]
كلف البنك الاهلي المصري رئيس قطاع تمويل الشركات أيمن ياسين بمهمة رئاسة مجموعة الاستثمارات بالبنك خلفا لمنصور قلاده،ومن المنتظر أن يبدأ ياسين في تولي رئاسة مجموعة الاستثمارات بالبنك بداية من يوم الأحد المقبل. ويتمتع أيمن ياسين، بخبرات مصرفية كبيرة، وعمل في البنك التجاري الدولي “CIB ” لمدة 18 عاما بقطاع الائتمان وتدرج في عملة هناك حتى[…]
أصدر المهندس شريف إسماعيل رئيس مجلس الوزراء قرار رقم 581 لسنة 2016، بتعيين يحيى أبو الفتوح نائباً لرئيس مجلس إدارة البنك الاهلى المصرى، وذلك للمدة المتبقية من فترة مجلس الإدارة الحالى. وقال يحيى ابو الفتوح نائب رئيس مجلس ادارة البنك الاهلى لـ «البورصة» إن القرار يطبق بداية شهر مارس الجارى. اضاف أنه يسعى لبذل قصارى[…]