Suez Canal 5-Year Investment Promises 12%

By George Backwell
Wednesday, September 03, 2014
Suez Canal transit: File photo

Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available for the public by Thursday or at the beginning of the next week, reports 'Daily News Egypt'.

The investment certificates will be issued at the values of EGP 10, EGP 100, EGP 1,000 with a five year maturity and a 12% interest rate.

The CBE governor announced that the interest on the EGP 1,000 certificates can be collected on a quarterly basis. However, the interest on investment certificates between EGP 10 and EGP 100 will be cumulative – redeemed at the end of the five year period.

Hisham Ramez, governor of the Central Bank of Egypt (CBE) announced during a press conference on Sunday that around 6m tax-exempted Suez Canal investment certificates are ready to be issued, following  presidential approval.

Source: Daily News Egypt

 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

DSM Dyneema Names President’s Successor

Gerard de Reuver has elected to step down as President of DSM Dyneema on August 1, 2015 after five years in the post, the company announced today. He will be succeeded by Golnar Motahari Pour,

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

New Products

INTERSCHALT VDR Earns CCS Certification

INTERSCHALT maritime systems AG, the provider of maritime software, services and systems for navigation and communications systems (NavCom) and manufacturer of Voyage Data Recorder (VDR) systems,

Coxreels Introduces Three-way Brake for 1600 Series

Hose, cord and cable reel manufacturer Coxreels announced the addition of an optional accessory to improve efficiency and safety of its 1600 Series reel, adding

Arctic Range of Liferafts Introduced

Ship operators working in polar regions can now equip vessels with liferafts from the SurvitecZodiac range that have been manufactured to meet Arctic operating conditions.

Ports

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

Victoria Celebrates Six Millionth Cruise Ship Passenger

Two tourists  -Victoria and Joseph Winthal - disembarking the Golden Princess Cruise Ship in Ogden Point have got an unexpected surprise.      They were selected

Super Yachts Give Boost to NZ Economy

New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month.

Finance

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

India Delays 24 LNG Shiploads from Qatar

India has deferred taking deliveries of at least 20 shiploads of expensive liquefied natural gas (LNG) from its main supplier Qatar and wants a rate cut matching

Super Yachts Give Boost to NZ Economy

New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month.

 
 
Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1876 sec (5 req/sec)