The central bank raised rates by a larger-than-expected 300 bps at its last meeting on Dec. 22 and by 200 bps at a surprise meeting on Oct. 27.
Last month, the Egyptian Exchange released new criteria for inclusion in the EGX30 in a bid to make the benchmark index more attractive for investors
The acquisition has been approved by the central bank and will take effect on Jan. 31.
Minister of Finance, Mohamed Maait, stated that these initiatives help provide the necessary cash liquidity to ensure the rotation of the economy.
Many banks within Egypt were trading at 30 Egyptian pounds for $1 earlier this month.
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit offered by Banque Misr and the NBE garnered EGP 460 billion in a month.
The foundation will help designing and piloting a programme that targets projects and companies run by women.
Finance Minister Mohamed Maait hailed S&P’s decision, saying it reflects the international institutions' confidence in the Egyptian economy.
Egypt aims to benefit from the areas that fall within the various activities of the bank, including supporting sustainable development.
Madbouly added that he previously discussed the revitalization of the Egyptian Stock Exchange.
The US provides Egypt with $1.3 billion of military assistance annually to facilitate the transition from the outdated Soviet era equipment.
Egypt has been working towards the localization of many industries and turning into a manufacturing hub that would supply to Africa and the region.
CIRA is an Egypt-based company, operating in the investment field across diversified sectors.
With its recent funding, Wafeq will continue to innovate and build new product functionalities, while also focusing on customer acquisition.
The main index of the Egyptian Stock Exchange "EGX30" rose during today's session by 2.13% to close at 16,791 points.
The search rates of citizens who wish to purchase the new Certificates of Deposit (CDs) with a return of 25 percent introduced recently have increased
The upcoming sector will witness granting the private sector more opportunities for growth, expansion and partnership in the various sectors.
BIH and TSFE's sub-fund are committed to invest EGP 200 million and EGP 100 million, respectively.
This came during a meeting held by Prime Minister Mostafa Madbouli, with the CEO of the MSMEDA, to follow up on a number of the agency's work files.
Egypt's economy will grow 4.8% in the current fiscal year, faster than predicted by the government.