National Bank Of Egypt

National Bank Of Egypt News

• Egypt to Sell 14 Billion Pounds of Debt After Moody’s Cut

  Egypt’s local-currency borrowing costs surged the most in three months after Moody’s Investors Service cut ratings of local banks due to their exposure to government debt and the central bank raised interest rates.

• Top Fund Manager Sees Egypt Yields Shunning Unrest: Arab Credit

  Egypt’s borrowing costs are set to drop as the slowest loan growth three years amid escalating political turmoil prompts banks to park funds in government notes, the Middle East’s top money markets fund manager said.

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  Black Market Dollars Put Egyptian Economy on Alert: Currencies

  When two Egyptian banks refused to give Ahmed El-Rifai the dollars his digital media company needed to pay Facebook Inc. last month, he turned to a more reliable source: the black market at a premium of about 8 percent.

• National Bank of Egypt’s Amer Says Change to Spur Growth: Voices

  Tarek Amer, chairman of National Bank of Egypt, comments on the changing political and economic environment in the North African country one year after a popular uprising ended the 30-year rule of Hosni Mubarak.

• Egypt Offers $819 Million of T-Bills After Cutting Bond Sales

  Egypt will seek bids for 5.5 billion Egyptian pounds ($819 million) of treasury bills today after reducing long-term debt sales to less than 10 percent of its fund raising target.

• Egypt Sells $38.3 Million at FX Auction, 24% of Dollars Demanded

  Egypt’s central bank sold $38.3 million at a currency auction today, meeting only 24 percent of the amount demanded by banks after a plunge in the nation’s currency. Dollar bonds advanced.

• Sudan’s Central Bank Approves License for National Bank of Egypt

  Sudan’s central bank gave a license to the National Bank of Egypt to operate in the African country, Central Bank Governor Mohamed Khair al-Zubair told parliament today in Omdurman, a suburb of the capital, Khartoum.

• Egypt Pound Decline Accelerates After Ramez Attack, Moody’s Cut

  The Egyptian pound weakened the most this month as domestic security deteriorated and Moody’s Investors Service cut the country’s credit rating because of political turmoil.

• National Bank of Egypt Meets Investors on Plan to Sell $1.5 Billion Bonds

  National Bank of Egypt, the country’s largest lender, plans to sell its first international bonds and is meeting with fixed-income investors, according to three people familiar with the plan.

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  Egypt Pound Weakens to Record After Central Bank Sells Dollars

  The Egyptian pound fell to a record after the central bank held a second dollar auction, even as President Mohamed Mursi voiced confidence the currency would soon stabilize.

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Related Topics

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  Egypt

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  Middle East

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  Finance Ministry

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