banking
Wells Fargo to pay $1B for mortgage, auto lending abuses
World
April 20, 2018
Wells Fargo to pay $1B for mortgage, auto lending abuses
Wells Fargo is being fined a combined $1 billion by two federal regulators for abuses tied to its mortgage and…
Four banks to issue Sisi’s ‘Safety Certificate’ next week
Business
March 2, 2018
Four banks to issue Sisi’s ‘Safety Certificate’ next week
The National Bank of Egypt, Banque Misr, Banque du Caire, and the Agricultural Bank of Egypt will offer the Safety…
Egypt among top 5 African banking markets in terms of growth, profitability: McKinsey report
Business
March 1, 2018
Egypt among top 5 African banking markets in terms of growth, profitability: McKinsey report
Egypt is among the top five banking markets in Africa in terms of growth and profitability, according to a study by…
Brexit caused 37 percent fall in new London financial jobs in December – report
World
January 11, 2018
Brexit caused 37 percent fall in new London financial jobs in December – report
Britain’s forthcoming exit from the European Union was the main reason for a 37 percent decline in new jobs available…
Euro zone economy’s growth best in nearly seven years, PMIs suggest
World
January 4, 2018
Euro zone economy’s growth best in nearly seven years, PMIs suggest
The euro zone economy closed out the year with the strongest growth in nearly seven years, driven by accelerating services…
Foreign currency reserves rose to record-high $37.19 bn in December 2017: CBE
Economy
January 3, 2018
Foreign currency reserves rose to record-high $37.19 bn in December 2017: CBE
Egypt’s net foreign currency reserves climbed to an all-time high of $37.19 billion in December 2017, the Central Bank of Egypt (CBE)…
Egypt’s Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
Egypt
January 1, 2018
Egypt’s Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
Republican mufti Councellor Magdy Ashour issued a Fatwa (Islamic ruling) that deems the Bitcoin virtual currency as forbidden by…
US dollar exchange rate approaching LE 18
Business
December 18, 2017
US dollar exchange rate approaching LE 18
The US dollar exchange rate hiked during Monday morning trading, approaching LE 18, with more than one bank selling it…
Sweeping increase in US dollar value against Egyptian pound on Wednesday
Business
December 6, 2017
Sweeping increase in US dollar value against Egyptian pound on Wednesday
The US dollar saw a sweeping increase in its exchange rate against the Egyptian pound – as well as various…
Goldman Sachs to have post-Brexit EU hubs in Frankfurt, Paris
World
November 20, 2017
Goldman Sachs to have post-Brexit EU hubs in Frankfurt, Paris
Goldman Sachs Chief Executive Lloyd Blankfein said the bank would have hubs in Frankfurt and Paris after Brexit and that…