banking

Wells Fargo admits deception in $1.2 billion US mortgage accord
Business

Wells Fargo admits deception in $1.2 billion US mortgage accord

Wells Fargo & Co (WFC.N) admitted to deceiving the US government into insuring thousands of risky mortgages, as it formally…
US readies bank rule on shell companies amid ‘Panama Papers’ fury
Business

US readies bank rule on shell companies amid ‘Panama Papers’ fury

The US Treasury Department intends to soon issue a long-delayed rule forcing banks to seek the identities of people behind…
Barclays plans to sell Egypt branch
Business

Barclays plans to sell Egypt branch

Barclays has declared its intentions to sell its branch in Egypt as well as some other branches in Africa and…
G20 communique says monetary policy alone cannot bring balanced growth
Business

G20 communique says monetary policy alone cannot bring balanced growth

Policymakers from the world's top economies said on Saturday that the world needs to look beyond easy monetary policy to…
Egypt’s Banque Misr set for $100 mn China Development Bank loan
Business

Egypt’s Banque Misr set for $100 mn China Development Bank loan

Egypt's second-largest state lender, Banque Misr, expects to receive a $100 million loan from China Development Bank in February to…
Government honors Egypt’s 50 most influential women, best companies in economy
Business

Government honors Egypt’s 50 most influential women, best companies in economy

Investment Minister Ashraf Salman and Trade Minister Tarek Qabil honored Wednesday the 50 most influential women in the Egyptian economy…
Iran’s isolated banks may have slow, painful return to global system
Middle East

Iran’s isolated banks may have slow, painful return to global system

Iran may be about to restore banking links with the rest of the world after years of separation, but the…
Barclays Egypt starts adopting expansion plans
Business

Barclays Egypt starts adopting expansion plans

  Barclays Egypt has begun adopting its expansion plans to add more branches in Egypt this year, after it re-opened…
As Egypt’s economy suffers, Gulf money moves into banking sector
Business

As Egypt’s economy suffers, Gulf money moves into banking sector

As Egypt's banking sector struggles under the weight of a credit crunch, Arab banks are seeing the crisis as an…
Stock market rebounds Tuesday after initial decline; banks near Tahrir close
Business

Stock market rebounds Tuesday after initial decline; banks near Tahrir close

The Egyptian Stock Market index rebounded by the end of the Tuesday session, according to brokers who cited the Muslim…
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