Abu Dhabi Commercial Bank – Egypt reports net profit rise of 83% in H1 2021

Bank continues expansion plans, emphasizes brand, and finalizes measures to raise capital: El Sewerky

Read More: https://dailynewsegypt.com/2021/08/15/abu-dhabi-commercial-bank-egypt-reports-net-profit-rise-of-83-in-h1-2021/


Egypt injects EGP 2.8bn into over 87k small, micro projects in H1 2021

Minister Nevin Gamea urges citizens to benefit from MSMEDA services to finance their new projects

Ongoing cooperation portfolio bet. Egypt, China hits $1.8B

The ongoing portfolio of cooperation with China amounts to $1.8 billion, according to the Ministry of International Cooperation.

The Ministry clarified in a statement, Thursday that the cooperation is directed to the implementation of several development projects across various sectors such as health, agriculture, education, technical education, electricity, and many more.

Over the span of four years, 1,110 training programs were carried out with China, benefiting more than 4,000 governmental officials, in addition to 25 training programs in high-priority fields, benefiting 300 governmental cadres in the fields of health, agriculture, population, and water resources, it added.

This came during The Ministry’s announcement that 35 virtual training programs have been organized with the Chinese side, with the participation of 210 governmental cadres across sectors of transportation, maritime transport, health, education, space science, environment, industry, solidarity, agriculture, and electricity. This comes within the framework of the international partnerships the Minister of International Cooperation Rania A. Al-Mashat, holds with multilateral and bilateral development partners to bolster Egypt’s regional and global economic cooperation, and to enhance the investments in human capital.

Minister Al-Mashat stated that the Ministry of International Cooperation is keen on enhancing the exchange of expertise, knowledge and technical assistance, within the framework of its international partnerships with multilateral and bilateral development partners, supporting Egypt’s vision in building human capacity. Al-Mashat noted that virtual discussions were held with the Chinese side about the status of scholarships in light of the COVID-19 pandemic.

Read More: https://www.egypttoday.com/Article/3/106841/Ongoing-cooperation-portfolio-bet-Egypt-China-hits-1-8B

Egypt’s central bank issues LE 11B in T-bills Sunday

CAIRO – 15 August 2021: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 11 billion in treasury bills (T-bills) on Sunday, August 15

The T-bills were offered in two installments, with the first valued at LE 6 billion with a 91-day term, and the second worth LE 5 billion with a 273-day term.

Earlier, the Ministry of Finance announced the possibility of reducing the accepted quantities of bills and bonds bids on the public treasury, issued in local currency until the end of the current fiscal year.

For the current fiscal year, the budget deficit is estimated to record 6.6 percent of gross domestic product (GDP), planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.


Read More:  https://www.egypttoday.com/Article/3/106901/Egypt-s-central-bank-issues-LE-11B-in-T-bills