Goldman Sachs downgraded equities to “neutral” over a 12-month time-frame on growth and valuation concerns, but upgraded …
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Financial Institution
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Financial Institutions
King Salman launches Egyptian-Saudi fund with capital of $16bn
by Noha Gadby Noha GadSaudi Arabian King Salman bin Abdulaziz Al-Saud launched an Egyptian-Saudi investment fund with a capital of SAR …
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Financial Institutions
Moody’s describes Pound devaluation as credit positive for Egypt
by aya salahby aya salahThe recent decision by the Central Bank of Egypt (CBE) to adopt a flexible exchange rate has …
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Financial Institutions
Misr Insurance eyes net profit of $112 million in FY2015/16
by aya salahby aya salahThe Egyptian Misr Insurance Holding Company aims at increasing net profits to 1 billion Egyptian pounds ($112 …
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EFG Hermes, the leading investment bank in the Arab world, has entered into a binding agreement to …
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Financial Institutions
Takaful insurance captures 11 % of Egypt’s insurance market
by aya salahby aya salahTakaful insurance activity currently seizes 11 percent of the sector’s installment portfolio, Secretary-General of Insurance Federation of …
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Financial Institutions
S&P settles Australian lawsuit over Lehman Bros collapse
by Noha Gadby Noha GadA substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against …
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Financial Institutions
Saudi Arabia allocates $31 million to activate Sisi’s initiative for youth
by aya salahby aya salahThe Saudi Fund for Development grants 250 million Egyptian pounds ($31 million) to Egypt’s Social Development Fund …
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Financial Institutions
Wethaq Takaful Insurance-Egypt investment portfolio hit $35mn last December
by Noha Gadby Noha GadThe investment portfolio of Wethaq Takaful Insurance -Egypt has increased to 273.55 million Egyptian pounds (US$34.9 million) …
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Financial Institutions
Cabinet endorses Kuwait fund’s loan for Egypt-Saudi power link
by Noha Gadby Noha GadEgyptian Cabinet approved Thursday a loan agreement with Kuwait Fund for Arab Economic Development (KFAED) to finance …