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Saudi Arabia’s NCB plans capital hike before IPO

Reuters – National Commercial Bank, Saudi Arabia’s biggest bank by assets, plans to boost its capital by SAR 5bn ($1.3bn) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday. The announcement comes one month after the Saudi government said it planned to float 15% of the state-owned bank …

Daily News Egypt

Personal loans increase as inflation and price of goods rise

The value of personal loans made in November 2012 increased by EGP 900m from the month of October. The total value of loans in local currency was EGP 111.2bn for the month of November 2012, as opposed to EGP 110.2bn in October 2012. During the same period, loans made in foreign currency increased from EGP …

Daily News Egypt

Ministry of Transport considers metro fare increase

The Ministry of Transport is studying the feasibility of raising the price of metro tickets by around a quarter. Currently EGP1, the new price would be between 125 to 150 piastres, Egyptian media has reported. Furthermore, the ministry is also considering cutting subsidies for public servants, students, the military and police. Egyptian media published contradictory …

Hend El-Behary

CAPMAS: Tourism up by 8.3 percent

The Central Agency for Public Mobilisation and Statistics (CAPMAS) released yesterday the latest figures on tourism during July showing an 8.3 percent increase in the number of tourists from around the globe from the same month last year. According to the latest CAPMAS tourism figures, up to one million tourists visited Egypt during July, compared …

Islam Serour

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