Finance News
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New working hours for banks during Ramadan
The Central Bank of Egypt (CBE) has announced the banks’ working hours during the holy month of Ramadan, which is expected to start on Thursday.
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Egypt Targets 5% Growth in FY2023/24 Budget- Finance Minister
Mohamed Maait, the Egyptian Minister of Finance presented the most important final indicators for the draft budget for the next fiscal year 2023/24.
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Egypt's parliament approves LE 65B additional allocation in 2022/23 general budget
According to the draft law, the new allocation will be covered by borrowing, issuing securities, stocks and other sources of local and foreign.
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Egypt’s futures surge to all-time high, surpassing EGP 40 per $1
Egypt’s undeliverable futures recorded an all-time high on Monday, posting EGP 40.25 per $1, up from EGP 39.39 at the opening hour.
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Exoskeleton Startup Cosmos Bionics Strikes a Deal on Shark Tank Egypt
In addition to successfully securing an offer, the Cosmos Bionics presentation introduced lower-body exoskeleton technology to North Africa.
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Egyptian Financial Regulatory Authority sharpens focus on sustainability with UK banking alliance
The MOU will improve the efficiency of and provide support for Egyptian non-banking financial services markets.
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CIB general assembly approves appointing Hisham Ezz Al-Arab as non-executive Chairman
The CIB said then that Ezz Al-Arab will come as a successor to Sherif Sami, who will continue as a non-executive member of the Bank’s Board.
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Egypt's FRA approves establishment of Malath Consumer Finance Company
The number of customers increased by 86.6 percent, to 765.3 thousand customers by the end of the last quarter of 2022.
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UAE, Saudi Arabia and Egypt lead M&A activity in Mideast
UAE and Saudi Arabia witnessed the fastest year-on-year increase in deals, with volumes rising respectively by 9 per cent and 6 per cent.
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IFC's Vice President visits Egypt Monday, discusses private sector's contribution to economy
The IFC has a growing investment portfolio amounting to about $1.5 billion in investment projects in Egypt.
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CBE: Mothers Allowed to Open Accounts for Minor Children
The Central Bank stated that it is working continuously to remove all difficulties or restrictions that may prevent women from obtaining banking.
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Egypt launches Financial Technology Solutions Support Center "CORBEH"
The Stock Exchange decided to establish this center within its headquarters in the Smart Village and to provide all the necessary data and resources.
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Egypt to Join BRICS Development Bank to Cut Dollar Reliance
Egypt's joining of the BRICS New Development Bank will relieve the state budget of the pressure of finding US dollars to meet the country's imports.
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Maait: Egypt keen on scaling up Saudi investments in Egypt
The state is seeking to back the foreign and local private sector and provide incentives for production and IT sectors.
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Sisi Directs Gov't to Increases Income Tax Exemption Limit to EGP 36,000 Annually
The income tax exemption limit to increase to EGP 36,000 annually instead of EGP 24,000.
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Egypt targets $10bln in net foreign direct investment in FY2022/23
This came during a meeting with Egypt’s Finance Minister Mohamed Maait and a number of Saudi investors in Riyadh.
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Finance Min.: Egypt Ranks Among Fastest Growing Countries in MENA
Egypt is one of the fastest growing countries in the Middle East and North Africa, with a rate of 4.8% of GDP.
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AUBE Reports 2022 Full Year Results, Recording 73.6% Growth in consolidated Net Profit Up To 2.04bn
The loans and advances portfolio surged by 36.5% during 2022, reaching EGP 53.9 bn as of 31 Dec. 2022.
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Egypt transfers ownership of Misr Insurance Holding to TSFE
President Abdel Fattah Al-Sisi has decided to transfer the ownership of Misr Insurance Holding to the Sovereign Fund of Egypt (TSFE).
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Egypt considers addition of eight state-owned companies to its IPO programme: Finance minister
Maait made the announcement during his participation in the Financial Sector Conference in Riyadh, the capital of Saudi Arabia.