Egypt

Egypt sets new limit on investing in local money market

19 May 2013

CAIRO: Egypt's central bank, worried that banks are investing too much of their cash in local money market and fixed income funds, is imposing stricter limits on such investments, a move asset managers say could cripple their industry. The central bank said in a directive banks will not be able to invest more than two per cent of their tier-one capital in local money market and fixed-income ...

New Egypt central bank ruling a blow for local money market funds

19 May 2013

By Patrick Werr CAIRO (Reuters) - Egypt's central bank, worried that banks are investing too much of their cash in local money market and fixed income funds, is imposing stricter limits on such investments, a move asset managers say could cripple their industry. In a copy of a central bank directive obtained by Reuters, the central bank says banks will not be able to invest more than 2 percent ...

AP PHOTOS: Palestinians in Egypt exiled, forgotten

18 May 2013

GEZIRAT AL-FADEL, Egypt (AP) — In 1948, Suleiman Mamoudi fled by foot with his parents and other families from their village of Bir el-Sabae in Palestine. The 28-year-old and his family walked west for several hundred miles, crossing the Sinai Peninsula before settling in an area around 90 miles (145 kilometers) north of Cairo.