Finance News
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Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank
The hiring was as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank
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CBE’s financial sector cybersecurity center becomes Egypt’s first to join global cybersecurity forum
EG-FinCIRT's achievement is in line with the Central Bank's strategic focus on strengthening cyber security within the financial and banking sector.
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Fitch Downgrades 4 Egyptian Banks to 'B' on Sovereign Downgrade; Outlook Negative
We have also downgraded the Government Support Ratings (GSRs) of all four banks to 'b-' from 'b'.
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EBRD, EU, ILX allocate €300 million to enhance private sector financing in Egypt and beyond
The announcement was made during the EBRD's annual meetings taking place in Uzbekistan.
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Egypt’s raises microenterprise finance limit by 10%
Egypt’s Financial Regulatory Authority (FRA) increased the maximum financing limit for microenterprises by 10 percent up from EGP 200,000 ($6,465).
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EBRD expects Egypt’s real GDP growth for FY2022/2023 to reach 4%
The EBRD released these updates in its Regional Economic Prospects report during its annual meetings held in Uzbekistan.
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Why Egypt’s inflation declined in April 2023? CBE explains
Annual food inflation dropped from 62.9% in March 2023 to 54.7% in April 2023 while annual non-food inflation remained largely stable.
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Egypt’s PM Reviews with World Bank Industry Development Strategy
the national industrial development strategy is being prepared in cooperation and benefit from the expertise of international partners.
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NI Capital is preparing to sell stakes in 2 state-owned companies
NI Capital was mandated by the Egyptian Cabinet to prepare an IPO program listing multiple state-owned companies on the Egyptian stock exchange.
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EIB reinforces investment in Egyptian Fintech Sector
The visit also included prominent private equity leader and key investor in Money Fellows, Sawari Ventures.
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FRA increases the financing limit for micro-sized entities by 10%
The Financial Regulatory Authority (FRA) increased the maximum financing limit for micro-enterprises by 10 percent to LE 220,000 up from LE 200,000.
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Egypt, Italy extend third-phase $100 mln debt swap programme
Egypt and Italy signed mutual letters to extend the third phase of a $100 million debt swap programme for development projects until December 2024.
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Who Are the Top 500 Companies in Egypt in 2023?
We are pleased to announce the release of the second edition of our report on "Egypt's Top 500 Companies." Download your copy now.
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EGP to witness its 4th depreciation against USD by June: Fitch Solutions
Fitch Solutions said that the fourth Egyptian pound devaluation will occur in the context of progress on the divestment strategy Egypt is enacting.
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CBE Updates Licensing, Control Rules for Currency Exchange Companies
This comes in line with developments in the work of the exchange companies sector, supporting their performance and enhancing efficiency.
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Egypt’s real GDP to reach 4.1% in 2023: Ministry of Finance
The report pointed out that the target budget deficit rate by the end of June 2023/2024 is 6.5 percent of the GDP.
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Egyptian Central Securities Depository launches bond clearing activity
ECSD signed a memorandum of understanding (MoU) with the Egyptian Tax Authority to set the rules governing the application of agreements.
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Egypt, Oman Agree to Eliminate Double Taxation this Month
This agreement is expected to strengthening economic relations and tax cooperation between the two countries.
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Four banks offer highest return on dollar savings certificates in Egypt
US dollar savings certificates for 2023 are available with different returns and various purchase limits starting from $100 per certificate.
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Four Egyptian firms among 100 fastest growing businesses in Africa 2023
Four Egyptian firms have made the list for the 100 fastest growing businesses in Africa in 2023 according to the second annual ranking.