Fitch

Egypt highlights external debt decline, institutions positive expectation for state

Sun, 04 Oct 2020 - 03:25 GMT

Egypt succeeded in reversing the external debt curve, to record a decline for the first time in more than 4 years.

Goldman Sachs says Turkey is no longer economic competitor to Egypt

Mon, 21 Sep 2020 - 04:47 GMT

Turkey's deteriorating conditions are the reason.

Finance min.: Fitch's decision reflects int'l institutions’ confidence in national economy

Wed, 29 Jul 2020 - 01:39 GMT

Egypt was the only country in the Middle East and Africa, whose credit rating was maintained with a stable outlook by S&P Global Ratings, Moody's and Fitch, Ma'it said.

Fitch affirms Egypt at 'B+' with stable outlook

Tue, 28 Jul 2020 - 03:33 GMT

Fitch expected real GDP growth to be 2.5 percent in the fiscal year ending June 2021 (FY21), well below average growth of 5.5 percent in FY18 and FY19.

PM reviews Fitch report about Egyptian energy market

Tue, 28 Jan 2020 - 03:13 GMT

Assistant Prime Minister Usama Gohar said that recent developments in Egypt contributed to improving the outlook of Fitch reports about the Egyptian market.

Fitch affirms Egypt’s rating at ‘B+’ with stable outlook

Tue, 26 Nov 2019 - 10:32 GMT

Fitch clarified Monday that Egypt's ratings are supported by a recent track record of economic and fiscal reforms, and improvements to macroeconomic stability and external finances.

Fitch praises Egypt’s decision on interest rate cuts

Mon, 14 Oct 2019 - 07:13 GMT

Fitch said that pent-up private sector credit demand was high thanks to robust economic growth, expecting GDP growth of 5.5% in 2019 and in 2020.

Fitch launches 1st int’l credit academy, certification in Egypt

Tue, 11 Jun 2019 - 09:36 GMT

The institution said in a statement that it takes pride in transferring its knowledge and solutions to the Egyptian financial sector to further enhance the advancement of financial professionals.

Fitch affirms Egypt’s IDR at ‘B’ with positive outlook

Mon, 06 Aug 2018 - 04:10 GMT

Fitch attributed the ratings to progress achieved in executing the economic and fiscal reform program, greater macroeconomic stability and improving external finances.

Inflation rates match expectations, back to downtrend in August

Wed, 11 Jul 2018 - 08:54 GMT

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that annual consumer price inflation slipped to 13.8 percent in June 2018.

Business News Wrap-up

Tue, 27 Feb 2018 - 05:00 GMT

A wrap-up of the most prominent business news of the day

Fitch expects Egypt’s inflation to fall to 13% in 2018

Tue, 27 Feb 2018 - 02:56 GMT

Fitch anticipated in a report that the Central Bank of Egypt will cut rates further this year (another 200-300bps).

Net profit of Qatar’s commercial bank slumps 47.3% in 9 months

Thu, 19 Oct 2017 - 02:08 GMT

The bank’s profit dropped by 47.3 percent in the first nine months of 2017.

Qatar refuses to admit to its losses despite global downgrade

Fri, 01 Sep 2017 - 11:28 GMT

The Qatari ambassador to Venezuela, Batal Mojab al-Dosari, said on Friday.

Fitch lowers Qatar’s credit rating to AA-

Mon, 28 Aug 2017 - 10:23 GMT

Qatar’s GDP growth is forecasted by Fitch to fall to 2 percent in 2017, 1.3 percent in fiscal year 2018/19, down from 2.2 percent in 2016.

Decline of foreign deposits ‘pressure’ Qatari banks: Fitch

Wed, 23 Aug 2017 - 12:09 GMT

Arab boycott of Qatar will increase banks' financing costs in the international debt markets, Fitch said.

Egypt’s credit rating to improve as foreign reserves surge

Tue, 08 Aug 2017 - 08:21 GMT

S&P Global will consider changing Egypt’s credit rating if economic growth rate exceeded expectations, analyst says.

Qatar’s credit ratings in question as crisis deepens

Thu, 15 Jun 2017 - 12:51 GMT

Diplomatic rift between Qatar, Saudi Arabia, UAE, Bahrain and Egypt is not anticipated to resolve over the short term.

More