World Bulletin / News Desk
The chairman of the state-owned National Bank of Egypt (NBE), the country's largest bank by assets, has resigned from his post and his resignation accepted by the prime minister, the cabinet said in a statement on Saturday.
Prime Minister Hisham Kandil accepted the resignation of Tarek Amer on Saturday, the statement said. It did not explain the reasons behind the move. Amer could not immediately be reached for comment.
Amer has held the post since 2008, and was responsible for major administrative and financial restructuring of the bank during his 5-year post, the cabinet statement said.
The NBE, established in 1898, was the last of Egypt's four main state-owned banks to bring in managers from the private sector, in a reform process that began with Banque du Caire in 2000. The banks had struggled under four decades of state bureaucracy.
Amer brought in 140 new senior managers and 1,500 junior managers after he took up his position in April 2008.
Water quality and shortages also remain threat to health of many with onset of diseases
Bank expects ‘solid rise in energy prices, led by oil' next year
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile said in a statement the bank would remain open, continue to operate normally and that the central bank would protect deposits.
Four presidents meet, but hopes of diplomatic breakthrough for cease-fire in eastern Ukraine remain low
Having taken years to negotiate, some producers voiced impatience for the deal to now be finally sealed; others simply fail to see why anyone would reject it.
"The value of this project will be $10 billion with a final production level of 600,000 barrels of oil per day," he said in Tehran.
Bangladesh has been one of the worst victims of global warming, with thousands of people being killed by cyclones in recent years that have become more frequent and deadlier.
Exporting Israeli gas via Turkey to Europe is viable option, says Israeli Energy Minister
French energy group EDF views Turkey as 'growth country' with more room for nuclear, renewable and hydro projects, VP says
"If OPEC sticks to its new target, the market's rebalancing could come faster," it said.
Further warrants issued against police suspected of using ByLock messaging service
A stock index of firms compliant with the principles of Islamic Sharia law, in cooperation with Bosna Bank International was launched today
Azerbaijani President Ilham Aliyev says bilateral energy projects with Turkey play key role for energy security in region
Oliver Hart, Bengt Holmstrom receive award for work on role of legal agreements
Germany's gross domestic product (GDP) will increase by 1.8 percent in 2016 before slowing to 1.4 percent growth in 2017 and 1.6 percent in 2018, Economy Minister Sigmar Gabriel said.
With the US presidential elections a month away, the annual meetings of the World Bank and International Monetary Fund kicked off this week in Washington with a stern warning