Sunday, December 7, 2014

Exchange first return to the Suez Canal investment certificates B6870 ATM

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Begin operating in the local market banks, on Sunday, the first exchange for the return of the Suez Canal investment certificates, for a period of 8 working days. It is expected that the disposal of 6870 ATM to ATM machine machinery represents the network of Egyptian banks' return on these certificates. Confirmed banking sources in several banks, the good levels of liquidity to banks to exchange the first dividend certificates channel investment certificates, pointing out that the planned funds for disbursement size of about 1.9 billion pounds will be spent over 8 working days 0.5 days this week and three days next week, according to the date each client to buy these certificates. The sources said that the first dividend certificates Suez Canal investment will distract certification class LE 1000 at an interest rate of 12% for 5 years and distract return every 3 months, pointing out that the return on the certificates Class 10 and 100 pounds, will distract cumulatively after the end of the period of the 5-year, $ 18, 180 pounds, respectively. And collected the Suez Canal investment certificates 64 billion pounds in 8 days in the period from September 4, 2014 until September 15, 2014, amid a historic turnout of Egyptians. It is worth mentioning that with the start of the first disbursement of return for investment certificates Suez Canal, on Sunday, is expected to conduct 6870 ATM to ATM machine machinery represents the network of Egyptian banks' return on these certificates. The number of ATM subsidiaries of banks operating in Egypt .39 banks, to the 6870 machine, at the end of last June, compared to the B6283 machine, by the end of June 2013, an increase of 587 machine, within a year, according to the latest report issued by the Central Bank of Egypt.

World Bank discusses the reasons for the high unemployment rates in the Middle East

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Hosts the Regional Centre for Strategic Studies in Cairo, on Sunday, a delegation from the World Bank, to discuss the latest report about high unemployment Middle East and North Africa region. The report points out that the private sector does not create jobs in sufficient numbers, because of restrictive government policies that have reduced competition from new entrants to the market. The conference will discuss the case of Egypt in the report, in order to determine the reasons for the high rates of unemployment in Egypt, and ways to reduce these rates. He pointed Bank report, that there are a small number of influential political SPA companies, granted privileges rather than to create an environment to ensure growth and prosperity for all entrepreneurs, which led to the isolation of companies for domestic and international competition.


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