Finance News
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Egypt suspends land allocation system in foreign currency
The ministry will assess all allocations related to the system to ensure alignment with the Central Bank of Egypt's foreign exchange policies.
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CIB commits $300m to renewable energy, waste management projects
The total financing volume provided by CIB in the field of renewable energy and waste management amounts to an impressive $300m.
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Egyptian Stock Exchange registers record gains in May
The monthly report of the Egyptian Stock Exchange howed that the market capitalization of shares of listed companies gained about LE 139 billion.
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CBE implements blended finance mechanisms
Hassan Abdalla eleased a statement on the occasion of AfDB’s 60th anniversary and the 2024 Annual Meetings.
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National Bank of Egypt enables instant transfer receipt from abroad
The move supports Egypt’s digital transformation plan making the society less dependent on cash to enhance the government’s financial inclusion.
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Egypt to unveil new investment opportunities for Arab, foreigner investors next month
The government will unveil several investment opportunities in key sectors during the joint investment conference between Egypt and the European Union
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US Apache Plans $1.4 Bln Investments in Egypt in 2024
Christmann said Apache upgraded its work mechanisms in Egypt which contributed to increasing oil production by 10 percent to over 150,000 barrels/day.
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Orange Egypt Doubles Customers' Donations via 'Orange Cash' to Support Charitable Organizations
The company allocated part of its donations to support and assist 9 non-profit charitable organizations.
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7 Updates in the Egyptian fintech industry
The fintech sector in Egypt is experiencing rapid growth and transformation, with several significant developments shaping the future of finance.
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Egypt registers 3rd largest volume of real-time payments in Africa in 2023
By 2028, real-time payments are predicted to account for more than one-third of payments in the country.
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MSME sector represents more than 80% of Egypt’s economy: MSMEDA CEO
As part of the ongoing efforts, the agency has taken further steps to encourage project owners to transition from the informal to the formal sector.
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No tax hikes, including on income, commercial & industrial profits: Finance minister
Egypt’s Minister of Finance Mohamed Maait said on Tuesday that there will be no increase in income tax rates or brackets.
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FRA approves establishment of first tech start-up to fund SMEs
This start-up aims to provide financing solutions for small and medium-sized enterprises (SMEs) using cutting-edge financial technology.
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Egypt to increase prices of bread, electricity and petroleum products
He pointed out that the subsidy bill next year will increase to LE 636 billion, an increase of 20 percent over the current year.
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Egypt sees 30.8% YoY jump in newly established firms in Q1: IDSC
The report also showed that 82.32% of these new companies were set up in Cairo, Giza, Alexandria, Sharqiya, and Qalubiya.
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Asset management firms looking to use AI-powered advisors require min. LE 15M capital
Asset management firms are required to have a minimum capital of LE 15 million to obtain a license to operate using robo-advisors.
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Egypt, Italy review progress on $100m debt swap programme
The Sunday meeting focused on the progress of the program’s third phase, valued at $100m, and discussed the potential scope of a fourth phase.
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Egypt automates real estate tax system to improve services quality
The project is meant to make it easier for citizens, by making real estate tax system services available electronically for the first time.
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MSMEDA partners with JICA to boost Egypt’s small businesses
A team of Japanese and Egyptian experts are working together to diagnose the needs of 20 enterprises and provide them with tailored development.
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Egypt sells prime land to foreign investors in USD to boost economy
Egypt has approved the sale of land plots in eight major cities to 34 foreign companies, with all transactions priced in US dollars.