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Currency shortages hit Vodafone EgyptForeign exchange shortages are making it harder for Vodafone's Egyptian business to buy network equipment and it has asked some suppliers to accept payment in Egyptian pounds, its local chief executive said. Two years of econo More… |
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ForexTime launches new trading platformForexTime, a leading forex broker, has launched a new a platform that provides the company’s traders with the ability to follow and mirror the activities of professional and talented traders globally. The partnership with Zu More… |
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Emirates Islamic launches new forex servicesUAE-based Emirates Islamic Bank has today announced the launch of the first of a series of initiatives aimed at providing customers with market leading foreign exchange services. Faisal Aqil, deputy CEO, Consumer Wealth Management More… |
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CRISIS: Egypt to seek urgent IMF talksEgypt plans to invite an IMF mission to Cairo within a week, the government said on Thursday, signalling an imminent resumption of negotiations over a $4.8 billion loan as it struggles with an acute foreign currency shortage. More… |
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Egypt cbank offers $50m at auctionEgypt's central bank will offer $50 million to banks on Wednesday at its 18th auction of foreign exchange as well as another, previously unscheduled auction on Thursday. The bank introduced the system of regular auctions of US More… |
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Bahrain Financing opens new outletBahrain Financing Company (BFC), the kingdom's oldest and largest money transfer and foreign exchange group, has opened its 31st outlet. Known as the Asry branch, the outlet is located in the Hidd Industrial Area, next to Asry More… |
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Egypt foreign reserves soar to $15.5bnEgypt's foreign reserves have risen to $15.5 billion, helped by a deposit by Qatar to support the economy, its finance minister said, although they are still close to critical levels after being run down to defend Egypt's currency. More… |
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Egypt pound slides again at 2nd currency saleEgypt's pound fell further at the central bank's second auction of foreign currency under its new regime on Monday, with $74.8 million sold to banks at a cut-off price of 6.3050 Egyptian pounds. This was weaker than the Su More… |
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UAE Exchange honoured for brand excellenceUAE Exchange, a leader in remittances and foreign exchange services, has won the Global Award for Brand Excellence in ‘Banking and Financial Service’ category at an event held recently in Mumbai. Y Sudhir Kumar Shetty, More… |
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Egypt forex reserves fall $448m in NovEgypt's net foreign currency reserves fell by $448 million to $15.04 billion during November, figures on the central bank website showed. The reserves stood at $15.48 billion at the end of October, and at $20.15 billion at the More… |
