Egypt’s business digest July 15: AFBD delegation to discuss $500 mln loan in Egypt; Rumors of EGP depreciation raise EGX main index
The stock market - Youm7 (Archive)

CAIRO: No more browsing from site to site, view the top business news stories on July 15 here:



USD exchange rate steady at 8.88 EGP Friday

The U.S. exchange rate against the Egyptian pound is steady at 8.8578 EGP for purchase, and 8.8800 for sale on Friday, while the Euro rate reached 9.8401 EGP for purchase and 9.8675 EGP for sale, Youm7 quoted official data release by the Central Bank of Egypt (CBE.)


AFBD delegation to discuss $500 mln loan in Egypt

A delegation of the African Bank for Development (AFBD) will arrive in Cairo within few days to resume negotiations with concerned bodies in the government over providing Egypt with a loan of $500 million before the end of the year, AFBD representative in Egypt Laila el-Mokadem told Youm7.


Total loans at Egyptian market banks rose to 861 bln EGP: CBE

The total loans at banks operating in the Egyptian market rose to 861 billion EGP by April 2016, compared to 848 billion EGP in March 2016, with an estimated increase of 13 billion EGP, according to the latest report by the Central Bank of Egypt (CBE.)


Pensioners to receive 1.4 mln ATM cards in 2 months: National Postal Authority

Essam el-Sagheer, the head of the National Postal Authority, said that a total of 1.4 million new ATM cards will be distributed to pensioners within the next two months, as part of the last phase of mechanization of pension sector.


Rumors of EGP depreciation raise EGX main index: Financial analyst

Financial analyst Ehab el-Saeed said that rumors of depreciation of the EGP exchange rate against the dollar has sharply raised the main EGX30 index to exceed 7,300-7,350 points, approaching the level of 7,645 points.

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