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FABMISR completes integrating banking services with Bank Audi Egypt

Arabiya Capital Staff -
FABMISR, First Abu Dhabi Bank’s (FAB) Egyptian unit, said that it has completed integrating banking services with Bank Audi Egypt. The migration of all banking...
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Egypt’s net foreign reserves rise slightly to $33.4 billion in October

Arabiya Capital Staff -
Egypt’s net foreign reserves increased slightly for the second month in a row last month as the North African country awaits the increase in...
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Saudi-based ICIEC and Egypt’s CIB to host bankability of climate adaptation projects panel at COP27

Arabiya Capital Staff -
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) said Wednesday that it has joined forces with Egypt’s Commercial International Bank...
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UAE’s Mashreq inks sponsorship deal with Egypt’s COP presidency ahead of COP27

Arabiya Capital Staff -
UAE’s Mashreq said Tuesday that it signed an MoU with Egypt’s COP Presidency to formalize its participation at this year’s United Nations Climate Change...
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Saudi National Bank set to acquire 9.9% stake in Credit Suisse for $1.5 billion

Arabiya Capital Staff -
Saudi National Bank (SNB), the Gulf state’s largest lender, said it is participating in Credit Suisse Group’s capital raising and committed to investing as...
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Egypt devalues pound again, clinches $3 billion IMF deal

Arabiya Capital Staff -
Egypt’s pound plunged to a record low against the dollar on Thursday after the central bank unveiled plans to move to a more flexible...
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Abu Dhabi-owned SODIC seeks to acquire Orascom Real Estate for $125 million

Arabiya Capital Staff -
Egyptian property giant Sixth of October for Development and Investment Company (SODIC) has submitted a non-binding offer to fully acquire Orascom Real Estate for...
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Central Bank of Egypt plans to develop new currency indicator

Arabiya Capital Staff -
Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...
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Qatar set to invest $2.5 billion in Egyptian companies, says report

Arabiya Capital Staff -
Qatar is reportedly in advanced talks to acquire as much as $2.5 billion of state-held stakes in Vodafone Egypt, the country’s biggest mobile network...
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Egypt nears deal with IMF after staff-level agreement

Arabiya Capital Staff -
Egypt’s finance minister reportedly said that his country has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its...
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