Economy

Connect capital achieves consolidated net profit of EGP 692 million during 2023

Leave a Comment / Economy, News / By Ahmed Sharaf

The Consolidated Financial Statements of connect financial holding company revealed, during 2023, the company’s profits increased by 37.7%, year-on-year.The company’s net financing and fraud revenues during the past year amounted to about 1.74 billion pounds, compared to 1.45 billion pounds in 2022.It showed a combined net profit of 692,207,913 pounds compared to the company’s Net …

Connect capital achieves consolidated net profit of EGP 692 million during 2023 Read More »

S & P Global expects devaluation of the pound to 40 pounds to the dollar

Leave a Comment / Economy, News / By Ahmed Sharaf

Standard & Poor’s Global expects to initially devalue the pound in banks to 40 pounds to the dollar over the next few weeks, before gradually reducing it back to 45 pounds within the next five to six months, according to the agency in a note quoted by the east economy website. The pound is likely …

S & P Global expects devaluation of the pound to 40 pounds to the dollar Read More »

Egypt is considering a new expansion of the Suez Canal to speed up transit times

Leave a Comment / Economy, News / By Ahmed Sharaf

Lieutenant General Osama Rabie, chairman of the Suez Canal Authority, stated that the project of full duplication of the canal’s navigable route is still in the study stage, which extends to feasibility studies, environmental studies, engineering and civil studies, soil research, dredging and other studies that the authority will be working on in cooperation with …

Egypt is considering a new expansion of the Suez Canal to speed up transit times Read More »

Tunisia raises drinking water prices by up to 16%

Leave a Comment / Economy, News / By Ahmed Sharaf

Tunis: Africas, Reuters Tunisia has raised drinking water tariffs by up to 16%, the official gazette reported yesterday, in reaction to a five-year drought. After years of drought, average rainfall has increased in recent months, but government officials reported this week that Tunisian dams are only at 35% of their stock capacity. Last year, the …

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Banque Misr is crowned with two awards for the best bank in the field of corporate credit and social responsibility for the year 2023

Leave a Comment / Economy, News / By Ahmed Sharaf

Banque Misr was recently awarded the best bank in the field of corporate credit in Egypt for the year 2023 (Best Corporate Bank-Egypt), and the best bank in the field of social responsibility in Egypt for the year 2023 (Best CSR Bank – Egypt) from the International Finance Magazine ( International Finance Magazine), and it …

Banque Misr is crowned with two awards for the best bank in the field of corporate credit and social responsibility for the year 2023 Read More »

Banque Misr launches “express projects platform” to provide a distinctive package of services to entrepreneurs

Leave a Comment / All, Economy / By Ahmed Sharaf

Banque Misr has recently launched The Express platform for projects, in order to provide a better banking experience for Project customers.this confirms Banque Misr’s pioneering role in supporting the digital transformation strategy and providing advanced digital services aimed at bringing all financing systems and non-financial services in one place to facilitate all ways for Project …

Banque Misr launches “express projects platform” to provide a distinctive package of services to entrepreneurs Read More »

Suez Canal Bank achieves record profits of 2.29 billion pounds in 2023

Leave a Comment / All, Economy / By Ahmed Sharaf

The financial statements of Suez Canal Bank during the past year showed that the bank’s profits increased by 120.4% year-on-year.The bank explained in a statement to the Egyptian Stock Exchange, today, that it achieved profits of 2.293 billion pounds during 2023, compared to profits of 1.04 billion pounds in 2022. The bank’s net income from …

Suez Canal Bank achieves record profits of 2.29 billion pounds in 2023 Read More »

Housing & Development Bank achieves EGP 6.5 billion in consolidated profits during 2023

Leave a Comment / All, Economy / By Ahmed Sharaf

During the past year, the combined financial indicators of the housing and reconstruction bank showed that the bank’s profits increased by 141% year-on-year. The bank explained in a statement to the Egyptian Stock Exchange, today, that it achieved profits of 6.56 billion pounds during 2023, compared to profits of 2.72 billion pounds in 2022. Interest …

Housing & Development Bank achieves EGP 6.5 billion in consolidated profits during 2023 Read More »

South African lender FirstRand posts a 6% increase in half-year earnings

Leave a Comment / Economy, News / By Ahmed Sharaf

JOHANNESBURG: Africas, Reuters South Africa’s FirstRand Ltd opens new tab reported a 6% increase in first-half earnings on Thursday, led by strong topline growth, particularly net interest income. Its normalized earnings increased to 19.1 billion rand ($993 million) in the six months ending December 31, up from 17.9 billion rand a year earlier, the bank …

South African lender FirstRand posts a 6% increase in half-year earnings Read More »

Suez Canal revenues have fallen by more than 700 million dollars since the beginning of the unrest in the Red Sea

Leave a Comment / All, Economy / By Ahmed Sharaf

Revenues of the Suez Canal have recorded a decline of more than 700 million dollars since the beginning of the unrest in the Red Sea compared to the same period of the previous year. This came as a result of escalating tensions between the Houthis in Yemen and the United States, which led to a …

Suez Canal revenues have fallen by more than 700 million dollars since the beginning of the unrest in the Red Sea Read More »

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Connect capital achieves consolidated net profit of EGP 692 million during 2023

S & P Global expects devaluation of the pound to 40 pounds to the dollar

Egypt is considering a new expansion of the Suez Canal to speed up transit times

Tunisia raises drinking water prices by up to 16%

Banque Misr is crowned with two awards for the best bank in the field of corporate credit and social responsibility for the year 2023

Banque Misr launches “express projects platform” to provide a distinctive package of services to entrepreneurs

Suez Canal Bank achieves record profits of 2.29 billion pounds in 2023

Housing & Development Bank achieves EGP 6.5 billion in consolidated profits during 2023

South African lender FirstRand posts a 6% increase in half-year earnings

Suez Canal revenues have fallen by more than 700 million dollars since the beginning of the unrest in the Red Sea

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