Latest news with #Etreby
Egypt Independent
30-04-2025
- Business
- Egypt Independent
President Sisi's personal representative participates in BRICS Foreign Ministers' Meeting
CAIRO, April 30 (MENA) – President Abdel Fattah al-Sisi's Personal Representative and Assistant Minister of Foreign Affairs Ragy al-Etreby participated on behalf of Minister of Foreign Affairs, Emigration and Egyptian expatriated Badr Abdelatty in the BRICS Foreign Ministers' Meeting held in Brazil current chairman of the bloc's rotating presidency. President Sisi's personal representative said Wednesday, the meeting emphasized on constants of Egyptian stance pertaining to the necessity of stopping the ongoing Israeli aggression on Palestinian territories, Israeli violations against Lebanon and Syria, allowing entry of urgent humanitarian aid into Gaza, along with complete rejection of any policies or practices that aim to displace Palestinians from their lands. Etreby shed light on strenuous Egyptian efforts meant to reach a ceasefire and rally international support for Gaza's reconstruction plan. Discussions on current international tensions and ways to address them, also figured high on the meeting, said the president's personal representative, adding that Egypt affirmed necessity of advancing joint international action and working to reform and develop the international governance system, with a view to rendering it more effective and capable of confronting successive global crises. Meantime, the meeting took up supporting developing countries stand vis-à-vis the various international governance mechanisms, including multilateral financial institutions, in a way that would reflect the growing share of developing countries in the global economy, Etreby said. BRICS countries also agreed on the need to take serious steps to increase development financing provided by all development partners to support the ability of developing countries, particularly African countries, with a view to achieving the Sustainable Development Goals, he added. Etreby pointed out that the meeting also reviewed ongoing preparations for the BRICS summit scheduled to be held early July in Brazil, as all discussions agreed on the need to take effective steps to deepen economic cooperation between member states and build on the important decisions issued in this regard at the previous summit of the group that was held in Russia last year, particularly with regard to promoting trade exchange and industrial cooperation, attracting investments and promoting ties between business communities in BRICS countries; areas that represent a priority for Egypt in supporting national efforts to achieve economic and social development. (MENA)
Middle East
30-04-2025
- Business
- Middle East
OPEN// President Sisi's personal representative participates in BRICS Foreign Ministers' Meeting
CAIRO, April 30 (MENA) - President Abdel Fattah El Sisi's Personal Representative and Assistant Minister of Foreign Affairs Ragy el-Etreby participated on behalf of Minister of Foreign Affairs, Emigration and Egyptian expatriated Badr Abdelatty in the BRICS Foreign Ministers' Meeting held in Brazil current chairman of the bloc's rotating presidency. President Sisi's personal representative said Wednesday, the meeting emphasized on constants of Egyptian stance pertaining to the necessity of stopping the ongoing Israeli aggression on Palestinian territories, Israeli violations against Lebanon and Syria, allowing entry of urgent humanitarian aid into Gaza, along with complete rejection of any policies or practices that aim to displace Palestinians from their lands. Etreby shed light on strenuous Egyptian efforts meant to reach a ceasefire and rally international support for Gaza's reconstruction plan. Discussions on current international tensions and ways to address them, also figured high on the meeting, said the president's personal representative, adding that Egypt affirmed necessity of advancing joint international action and working to reform and develop the international governance system, with a view to rendering it more effective and capable of confronting successive global crises. Meantime, the meeting took up supporting developing countries stand vis-à-vis the various international governance mechanisms, including multilateral financial institutions, in a way that would reflect the growing share of developing countries in the global economy, Etreby said. BRICS countries also agreed on the need to take serious steps to increase development financing provided by all development partners to support the ability of developing countries, particularly African countries, with a view to achieving the Sustainable Development Goals, he added. Etreby pointed out that the meeting also reviewed ongoing preparations for the BRICS summit scheduled to be held early July in Brazil, as all discussions agreed on the need to take effective steps to deepen economic cooperation between member states and build on the important decisions issued in this regard at the previous summit of the group that was held in Russia last year, particularly with regard to promoting trade exchange and industrial cooperation, attracting investments and promoting ties between business communities in BRICS countries; areas that represent a priority for Egypt in supporting national efforts to achieve economic and social development. (MENA) S A S
Egypt Independent
19-04-2025
- Business
- Egypt Independent
Highest CDs returns in Egyptian banks after CBE cut interest rate
The Central Bank of Egypt (CBE) has decided to cut interest rates on Thursday by 225 basis points, bringing the deposit rate to 25 percent and the lending rate to 26 percent. This is the first rate cut in five years. In conjunction with this decision, many wondered about the fate of certificate of deposits returns, especially at the National Bank of Egypt. The CEO of the National Bank of Egypt, Mohamed al-Etreby, revealed that the bank intends to hold a meeting for the Assets and Liabilities Committee next week to review interest rates on CDs in line with the new monetary policy. Etreby said that the interest rate cut would stimulate lending and economic activity. He also expected a decline in treasury bill yields, which would positively impact the cost of public debt. Will bank CDs yields decline soon? Citizens are increasingly anticipating any potential change in CDs interest rates, especially in light of high inflation and the ongoing search for savings instruments that provide a fixed income with a high return. National Bank of Egypt CDs Daily Platinum Certificate: Offers a daily return of 23 percent for one year, with a minimum purchase of LE 1,000. Platinum Certificate with monthly step down interest: Starts with a monthly return of 26 percent in the first year, gradually decreasing to 18 percent in the third year. Annual Platinum Certificate: Provides a monthly return of 23.5 percent and an annual return of up to 27 percent, for a period of one year. Banque Misr CDs Al-Qimma Certificate: Fixed annual return of 21.5 percent for three years. Talaat Harb Certificate: Monthly return of 23.5 percent and annual return of 27 percent. QNB Bank Monthly return between 20 percent and 20.15 percent, for a period of three years. Nasser Social Bank (for those over 60 years old) Three-year 'Rad al-Gamil' Certificate: Annual return of 24.25 percent, monthly return of 22.25 percent. Edited translation from Al-Masry Al-Youm
