Latest news with #CommercialInternationalBank
Zawya
2 days ago
- Business
- Zawya
Mideast Stocks: Most Gulf markets in red on US tariff uncertainty
Most stock markets in the Gulf ended lower on Sunday as U.S. President Donald Trump's comments accusing China of breaking a bilateral trade deal added to uncertainty over tariffs. Trump has also announced plans to double worldwide steel and aluminium tariffs to 50%. Later said he would speak to his Chinese counterpart to "hopefully" work out differences. A federal appeals court last week temporarily reinstated the most sweeping of Trump's tariffs, a day after a U.S. trade court ruled that Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. Saudi Arabia's benchmark index dropped 1.5%, weighed down by a 2.2% slide in Al Rajhi Bank and a 0.9% decrease in Saudi National Bank. Elsewhere, oil company Saudi Aramco eased 0.7%. Aramco has published a new prospectus for its issuance programme of Islamic bonds or sukuk, signalling the state oil group may soon tap the debt markets again after it raised $5 billion from a three-part bond sale this week. In Qatar, the index gained 0.4%, ending a five-session losing streak, helped by a 1.1% rise in the Gulf's biggest lender Qatar National Bank. Outside the Gulf, Egypt's blue-chip index dropped 0.6%, hit by a 2.7% retreat in Commercial International Bank. (Reporting by Ateeq Shariff in Bengaluru. Editing by Jane Merriman)
Zawya
6 days ago
- Business
- Zawya
Egypt: Juhayna signs $38mln loan with CIB to finance citrus production line
Arab Finance: Juhayna Food Industries has signed a medium-term loan agreement with Commercial International Bank (CIB) worth $31.6 million and EGP 255 million, with a combined value equivalent to approximately EGP 1.9 billion, as per a disclosure. The loan will finance the purchase of a new citrus production line, in line with Juhayna's plans to expand its concentrate business. The facility carries a tenor of six years. The company said the investment supports its strategy to enhance operational capacity and productivity, increase exports, and move toward foreign currency self-sufficiency. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
22-05-2025
- Business
- Zawya
USD rate still below EGP 50-mark at Egyptian banks
Arab Finance: The exchange rate of the US dollar to the Egyptian pound remained below the EGP 50 mark on Wednesday, hitting EGP 49.8 for buying and EGP 49.9 for selling at Banque Misr at 12:10 PM. The dollar rate stood at EGP 49.8 for purchasing and EGP 49.9 for selling at the National Bank of Egypt (NBE) at 2:15 pm. Likewise, the US dollar traded at EGP 49.8 for buying and EGP 49.9 for selling at the Commercial International Bank Egypt (CIB). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
14-05-2025
- Business
- Zawya
Egypt: CIB's consolidated profits surge 39.5% YoY in Q1 2025
Arab Finance: Commercial International Bank Egypt (CIB) reported a 39.48% year-on-year (YoY) growth in consolidated net profits after tax for the first quarter (Q1) of 2025, according to an emailed press release. The bank recorded a consolidated net profit of EGP 16.631 billion in the three-month period ended March 31st, compared to EGP 11.925 billion in the same period last year. Net interest income grew to EGP 25.395 billion from EGP 18.800 billion. The bank logged EGP 16.595 billion in standalone net profits after tax in Q1 2025, compared to EGP 11.947 billion in Q1 2024. CIB, the leading private sector bank in Egypt, provides banking services across the country. The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
14-05-2025
- Business
- Zawya
Egypt: USD/EGP exchange rates edge down on Tuesday
Arab Finance: The exchange rate of the US dollar to the Egyptian pound went down on Tuesday, recording EGP 50.41 for buying and EGP 50.51 for selling at the National Bank of Egypt (NBE) at 2:14 pm. Likewise, the US dollar traded at EGP 50.41 for purchasing and EGP 50.51 for selling at the Commercial International Bank Egypt (CIB). At Banque Misr, the dollar rate also hit EGP 50.41 for buying and EGP 50.51 for selling at 1:46 PM. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
