CBE | Egypt Oil & Gas - Part 2
CBE to Offer Loans for Natural Gas Vehicle Conversion
The Central Bank of Egypt (CBE) will offer 5% interest loans to encourage car owners to transform their vehicles to natural gas-powered or mixed-fueled cars, running with both natural gas and gasoline, said Tarek Amer...
Petroleum Exports Profit Increases by 33.14% YOY
Egypt’s petroleum exports profit increased by around 33.14% year-on-year (YOY) as the country exported petroleum worth $8.773 billion in fiscal year (FY) 2017/18, compared to $6.5895 billion during 2016/17, Egyp...
Inflation Falls to 11.4% in May
Egypt’s annual headline consumer price inflation (CPI) fell 1.7% in May 2018, Reuters reported. Figures published by the Central Agency for Public Mobilization and Statistics (CAPMAS) show that CPI inflation fell from... Egypt to Repay $850M to IOCs
Egypt will repay $850 million in arrears to international oil companies (IOCs) operating in Egypt, said Tarek Amer, governor of the Central Bank of Egypt, according to CNBC Arabia. Amer did not mention the total debts...
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience. Covering October 9th to October 16th. 1) The IMF will issue the third tranche of its $12 billion ...
Net FDI in the Oil Sector Rises 135%
Net foreign direct investment (FDI) in the oil sector rose by 135% in fiscal year (FY) 2016/2017, according to the Central Bank of Egypt (CBE). Net FDI in the oil sector increased to $4 billion in FY 2016/2017 from $1...
Egypt to Issue New Draft Banking Law
Egypt will issue a new banking law to regulate the Egyptian banking sector and the work of the Central Bank of Egypt (CBE). The new law includes 170 articles divided into 6 branches, Al Mal News reported. However, the... Egypt Pays $750m to IOCs
The Central Bank of Egypt’s (CBE) Assistant Deputy Governor, Rami Aboul Naga, stated that Egypt paid total $1.5b in arrears to international oil companies (IOCs) in May and June, reported Al Ahram Newspaper. Abul-Naga...
