Finance News
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Egyptian pound against US dollar: Strongest point since March
The Egyptian pound’s rate against the US dollar declined on Tuesday to 46.92 for selling and 46.79 for buying, its strongest point since 23 March.
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NBE credit card users can now use up to LE 60k in foreign currency without notifying bank
Visa Platinum, Mastercard Platinum and Mastercard holders can now utilize up to LE 40,000, compared to the previous LE 12,500 limit.
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Private sector’s share in Egypt’s total investment reaches 40 percent
In addition, the private sector increased its contribution to the gross domestic product (GDP) to 71 percent this year.
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Sisi: Dollar shortage crisis in Egypt still a challenge for the State
Al-Sisi mentioned again his country hosting about nine million refugees and that hosting them costs over $10 billion per year.
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Egypt reportedly received 2nd and final tranche from Ras El Hekma
The Egyptian government is expected to allocate around $11 billion to paying off some of its external debt.
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Egypt has promising landscape of financial inclusion with youth representing 60% of population
Egypt's youth's robust use of mobiles and the internet makes the local market promising for investments in digital transformation.
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Egypt Shrinks Budget Deficit To 6%, Improves Debt-To-GDP To 95.8% In FY 2023
A primary surplus of 1.6% of GDP in FY 2022/23 contributed to the improved fiscal position.
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MNZL raises $3.5m to enhance asset-backed lending in Egypt
MNZL, a FinTech startup, has raised $3.5 million to revolutionise asset-backed lending in Egypt and across the MEA region.
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Egypt's non-oil business shrinks for 41st straight month, PMI shows
Egypt signed an agreement with the International Monetary Fund on March 6, with an initial $820 million payout received in April.
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Egypt int’l reserves hit record high in four years in April
Egypt’s net international reserves (NIRs) surged at the end of April to its highest level in four years to post $41 billion, up from $40.4.
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CAMPAS: 22.6 % increase in pension Spent in 2023
Central Agency for Public Mobilization and Statistics issued today "Annual bulletin of postal Services Statistics " 2022/2023".
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Madbouly directs initiation of community dialogue on Egypt's tax policy for 2024-2030
This step is poised to familiarize the tax community with the government's objectives for the tax system, along with the finance ministry's reform.
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Signing MoU Between GAFI And Crédit Agricole Egypt To Attract FDIs
As per the memorandum of understanding, GAFI will provide foreign investors with comprehensive information on investment opportunities in Egypt.
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Is EGX poised to rebound in May after April’s losses?
Some hope that Egypt’s Stock Exchange (EGX) will regain in May the heavy losses incurred in April in response to the geopolitical tensions.
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Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million
The Minister promoted investment and private sector activities in agricultural industrialization with 341 technological centers.
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Egypt Allocates More than Half of New Budget 2024/25 to Social Protection
The government allocated 23 billion pounds to support and stimulate exports, and 17.5 billion pounds to support industrial and agricultural activities
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Bitget Wallet witnesses 300 % growth in MENA
Countries in the MENA region such as Egypt and Saudi Arabia are among the top 15 countries for Bitget wallet downloads globally.
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Why Fitch's Revision of Egypt's Outlook to Positive Matters?
At the same time, the agency expected in its report on Egypt that foreign exchange reserves would continue to rise further to record $53.3 billion.
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Egypt’s foreign currency reserves to soar $16.2bln in FY24/25
The report expected the country’s reserves to rise further by $2.60 billion in FY25/26.
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JPMorgan expects major surge in Egypt's foreign exchange reserves
The announcement from JP Morgan comes in the wake of encouraging developments in Egypt's financial landscape.