News in brief

Egypt oks Crédit Agricole Egypt stake purchase Egypt’s market regulator has cleared a request by France’s Crédit Agricole and Mansour and Maghraby Group to buy up to 4 percent of Crédit Agricole Egypt, the regulator said on Tuesday. Crédit Agricole, France’s largest retail bank, and Mansour and Maghraby Group, a diversified Egyptian firm, already hold 79.02 percent of the bank, which was formed following the merger of Calyon Bank Egypt with Egyptian American Bank. The Capital Market Authority...