Floatation
One day after the floatation of the Egyptian pound, Prime Minister Mostafa Madbouli held Thursday a press conference giving key statements on measures to be taken in the near future.
Despite it leading to dwindling personal purchasing power, the decline of the local currency against the dollar has been proving a goldmine for local manufacturers.
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) will discuss Thursday the interest rates.
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) will discuss Thursday the interest rates, amid expectations to gradually decline the rates in the upcoming months.
The National Bank of Egypt accumulated LE 330 billion from the “Platinum” certificates with interest rates of 16 and 20 percent in 11 months
Operating earnings before taxes reached LE 47.7 million in the second quarter of 2017, against operating loss of LE 19.4 million in Q2 of 2016.
Egypt’s central bank has printed 100 million of the LE 1 notes in January and 100 million of the LE 0.5 notes.
HC Securities expected the current account deficit to decrease to $14.3 billion in the fiscal year of 2017/18 from $16.6 billion in the year-ago period.
MubasherTrade Research assigned Arabian Cement Co (ACC) a Buy/Low Risk rating, setting its price target (PT) at LE 11.13 ($0.62) per share.
CBE has stressed that the banking sector has achieved considerable success, as the total amount of saving certificates reached approximately LE 150 billion.
President Abdel Fatah al-Sisi admitted the painful consequences of the floatation of the Egyptian pound, saying that Egypt is better now.
Mohamed Omran, chief of the Egyptian Stock Company, met with a delegation from American giant Infor, an enterprise software company, alongside City Bank officials according to a Wednesday press statemen
