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AMOC’s profit dips 81% in H1-19/20 on lower sales
17 - Mon - Feb - 2020
AMOC’s profit dips 81% in H1-19/20 on lower sales
Alexandria Mineral Oils Co (AMOC) posted an 81% year-on-year profit drop during the first half of fiscal year 2019/2020, the company’s consolidated financial statements showed.Net profits plummeted to EGP 108.43 million during the six-month period ended 31 December 2019, compared to EGP 574.2 million in the…
Egypt draws $12bn cash inflows year-to-date – CBE official
17 - Mon - Feb - 2020
Egypt draws $12bn cash inflows year-to-date – CBE official
Egypt has attracted more than $12 billion of cash inflows since the beginning of 2020, the Middle East News Agency (MENA) reported, citing an official source at the Central Bank of Egypt (CBE).These inflows included remittances from Egyptians living abroad, foreign investments in treasury bills,…
CBE offers EGP 7bn T-bonds on Monday
17 - Mon - Feb - 2020
CBE offers EGP 7bn T-bonds on Monday
The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7 billion on Monday on behalf of the Ministry of Finance.The first tranche of the T-bonds amounts to EGP 3.75 billion and will be offered through three-year notes, while the second tranche…
Remittances from Egyptian expats rise $1.2bn in 5M
17 - Mon - Feb - 2020
Remittances from Egyptian expats rise $1.2bn in 5M
 Remittances from Egyptian expatriates increased by $1.2 billion or 12.1% year-on-year during the first five months of fiscal year 2019/2020, data released by the Central Bank of Egypt (CBE) showedRemittances from Egyptians living abroad amounted to $11.1 billion during the July-November period of 2019, compared…
Egypt operates 7 investment zones at EGP 29.5bn
17 - Mon - Feb - 2020
Egypt operates 7 investment zones at EGP 29.5bn
Egypt has developed and operated seven investment zones spanning over a combined area of 2,142 feddans with total investments of EGP 29.5 billion, the executive chairman of the General Authority For Investment and Free Zones (GAFI) Mohamed Abdel Wahab said.The number of projects operating in these…