Finance News
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Egypt economic growth forecast lowered
A Reuters poll lowered Egypt’s economic forecast to 3.5% in the next fiscal year starting July down from 5.9%.
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Egypt's Commercial International Bank buys 51% of Kenya's Mayfair
CIB is the first Egyptian bank to venture into the Kenyan market.
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IMF official: Egypt's anti-COVID 19 measures decisive and support economy
The LE 100 billion stimulus package, announced by the government, has been meant to boost the national economy during the crisis.
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Egypt's Financial Brokerage Group keeps top spot in March with 19.7% market share
The total market capitalisation reached $33.8bln in March.
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Egypt exempts taxpayers from admin fees on income, VAT dues
This came also in light of the Central Bank of Egypt’s new working hours, which end at 1:30pm.
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The economy after Covid-19, what to expect?
What will the world economy look like after the pandemic? What policies and decisions will be taken?
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Egypt considers fund to support informal economy workers amid virus outbreak
The funding for the proposal is set to come from either the state budget or other sources, as well as the emergency fund of the Manpower Ministry.
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Egypt's tax authority extends tax return submission for second time
Reda Abdel-Kader told Ahram Online that the authority extended the due date previously to 9 April instead of 31 March for individual taxpayers.
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Currency black market re-emerges in Egypt as coronavirus spreads
Some unofficial trades were taking place at 16.15 pounds to the dollar, compared to the 15.75 pounds offered by currency exchange bureaus and banks.
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CBE launches electronic payment initiative to curb corona virus
The initiative also enables new and existing bank customers to make transfers, purchases and cash withdrawals from ATMs for free.
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Egypt to announce new state IPO plan in 2 months
The government had planned to offer shares in 23 public-owned companies on the EGX, but the corona virus has sent global markets tumbling.
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CBE has liquidity enough to support national economy
Egyptian banks have liquidity allowing them to grant loans and support the national economy.
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Egypt's domestic debt hits 10-year low
The domestic debt was 94.5 percent of Egypt's gross domestic product (GDP) during 2016/2017.
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EBRD funds Saudi Almarai’s business in Egypt, Jordan
The Tadawul-listed company operates in Egypt and Jordan through its respective subsidiaries Beyti and Teeba.
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Egypt’s economy achieves highest growth rate in 11 years
The Egyptian economy’s growth rate reached 5.6 percent during 2018/2019, compared to 4.7 percent during 2008/09.
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CI Capital hopes to bring 4 companies to Egypt stock exchange in 2020
The bank is ready to manage the initial public offering of the state-owned Engineering for Petroleum and Process Industries company (ENPPI).
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Egypt allocates EGP 28.17 bln for urgent commodity and service needs
The bulk of the money was allocated for state grain buyer, the General Authority for Supply Commodities (GASC).
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President El-Sisi meets WB delegation
This is the 1st visit for the World Bank delegation since 2014. The WB seeks more cooperation with Egypt after success of reform program.
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Egypt prioritises improving investment climate, stimulating private sector
The premier highlighted a decision to form an investment committee, that will include the CBE governor, several ministers and state officials.
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Egypt launches microfinance incentives to contain informal economy
Microfinancing seeks to provide capital needs for small farmers and the self-employed, home-based projects, day-to-day sellers and street vendors.