Finance News
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Presidential Decree renewing appointment of Khairat Barakat as CAPMAS Chairman
Khairat Barakat is appointed Chairman of the Central Agency for Public Mobilization and Statistics (CAPMAS) for a new one-year term as of 14/2/2024.
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Egypt’s Instapay Breaks New Ground with Interactive 3D Advertising
Instapay, Egypt’s leading digital payments innovator, is poised to change the face of advertising with the country’s first-ever 3D ‘out-of-home.
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Tax Policy Strategy 2024/2030 to be submitted to Egypt’s National Dialogue next week
The second round of the National Dialogue will kick off Sunday, with a focus on the serious economic issues that Egypt is experiencing.
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CBE provides US$100 million to help provide basic commodities
This meeting comes in order discuss providing the dollar component needed for basic commodities, especially cooking oil, powdered milk, and more.
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30 million dollars to support small and medium enterprises in Egypt
ICD has provided $315 million in financing to Egypt, supporting private sector companies, financing lines to banks, and direct investments.
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Emigration ministry presents alternative tracks to increase dollar transfers from Egyptian expats
The ministry is keen on effective and continuous communication with the Egyptians and Egyptian investors abroad to solve their problems.
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Egypt Post to inject LE 6B in direct investments during 2024
Farouk emphasized Egypt Post’s goal of achieving a 30 percent increase in net profits in 2024, targeting LE 5 billion.
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Egyptian banks’ high-yield saving certificates garner record EGP 642 billion in 6 weeks
According to the reports, the National Bank of Egypt (NBE) attracted EGP 450 billion and Banque Misr collected EGP 227 billion.
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CBE approves raising Vodafone’s share in Basata to 20%
The Central Bank of Egypt has approved raising the share of Vodafone Egypt at the e-payment services provider Basata Holding for Financial Payments.
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6 Insights into CBE's new rules for overseas credit card usage
Due to Egypt's foreign currency challenges and the need for stricter financial oversight, CBE implemented new rules for using credit cards abroad.
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Egypt Targets $6.5 bn in Privatisation Programme for 2024: Finance Minister
Currently, 35 entities and assets are on the government’s privatisation list. Reports suggest there are 61 others.
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End-to-end payment provider Tafweela launches in Egypt
Tafweela, an end-to-end payment ecosystem targeted at corporate fleets, announced on Tuesday its launch in the Egyptian market.
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Egypt Launches First Gold Bullion ATM
Egypt has taken a significant step towards digital transformation and financial inclusion with the launch of its first ATM for gold bullion sales.
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Egypt targets $6.5bn revenues in 2024 from government IPO program, official says
During his participation in the session, Maait indicated that Egypt is also chasing financial policies that support productive and export activities.
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Will Egypt's IMF bailout dispel domestic money fears?
Analysis: The huge IMF bailout could ease Egypt's upcoming external debt burden but risks new austerity measures that will hurt the poorest in society
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Int'l partners' funding for Egypt reaches $10.3B over 4 years
Al-Mashat noted that this funding includes both developmental aid and investments in the private sector, along with technical support.
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Egypt central bank introduces measures regulating credit card use overseas
Customers who fail to provide documented evidence of credit card use during their stay abroad within a max of 90 days will be subject to measures.
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World Bank investments in Egypt amounts to $26B across 175 projects
This announcement was made during a meeting between Egypt's Prime Minister, Mostafa Madbouly, and the President of the World Bank, Ajay Banga.
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Egypt, UAE sign complementary protocol to avoid double taxation
This should be done through encouraging investment and deepening the private sector’s contribution to the course of development.
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IMF anticipates increase in support to Egypt will be ‘large in size’
Georgieva noted that the fund seeks “To give a dose of confidence to the Egyptian economy by enhancing the size of the support program.”