Financial-Services News
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Egypt's new rules for brokerage firms in carbon market explained
To ensure the market's integrity and efficiency, the Financial Regulatory Authority (FRA) has introduced stringent conditions for brokerage firms.
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FRA releases new conditions for brokerage firms to trade in upcoming voluntary carbon market
On Tuesday, Farid issued Decision No. 1732 of 2024, revealing the specific criteria for firms to qualify for future FRA approval.
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Goldman Sachs forecasts for Egypt
The report suggests that in September, the CBE will reduce interest rates by 1 percent, followed by a further decrease of 2 percent in Q4 2024.
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Egypt to enhance commodity exchange for economic contribution
The primary focus of the discussion was to leverage the forces of supply and demand in order to activate the commodity exchange.
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Egyptian Exchange launches online platform for discussions, recommendations
The Egyptian Exchange (EGX) announced on Tuesday the launch of the “stock exchange dialogue” platform on its online portal.
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EGX’s long-awaited shariah-compliant index to go live today -report
EGX head Ahmed El Sheikh said last month that the bourse has put together a committee to launch the index this quarter with 30 to 50 listed companies.
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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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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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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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Unification of FX in Egypt will attract Emirati, Saudi FDI: UAE-based Freezoner CEO
The recent unification of the foreign exchange rate in Egypt will contribute to attracting more foreign direct investments into the country.
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Egypt's Fawry private offering 15.9 times oversubscribed on stock exchange - statement
Investment bank EFG Hermes said the share price was 6.46 Egyptian pounds ($0.3874) per share.
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Tax revenues surge by over 38% since beginning of FY24/25
Tax revenues have recorded a growth rate exceeding 38 percent since the beginning of the current fiscal year (FY24/25).
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Egypt major FX companies collect foreign currency proceeds exceeding EGP 7.5 bln since EGP flotation
The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion.
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S&P upgrades Egypt’s credit outlook to positive
S&P Global views Egypt’s exchange rate liberalization as a crucial milestone in bolstering confidence and fostering economic growth.
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Market capitalisation of Arab stock exchanges surpasses $4.5trn in February
The market capitalisation of Arab stock exchanges witnessed an increase to approximately $4.54trn in February, up from around $4.4trn in January.
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The Most Promising Stock Investment Opportunities in 2024
The stock market continues to be a popular avenue for wealth creation, attracting both seasoned investors and newcomers.
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Egyptian bourse registers biggest annual gain since 2016
Egypt's blue-chip index (.EGX30) advanced 0.8%, extending its 2023 gains to a 70.5%.
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T-Vencubator launches operations to invest in local startups
Egyptian tech-focused Venture Capital (VC) firm T-Vencubator, has launched operations with the aim to support the growth of local startups in Egypt.
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10 things you need to know about 'frozen dollars' in Egypt
These frozen dollars are being sold at a jaw-dropping 50% below the parallel market rate, raising questions about their authenticity and legality.
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Egypt Post suspends foreign currency transactions through EasyPay cards
Egypt Post has suspended foreign currency withdrawals and purchases through EasyPay cards, according to SMSs sent to clients’ mobile numbers.