Finance News
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Egypt’s FRA forms coordinating committee to develop EPTI
The committee aims to shore up the non-banking financial activities, while ensuring market stability and efficiency and secured transactions.
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Egypt ranking stable at 2023 Agility's Emerging Markets index
Egypt ranked 21st out of 50 countries, registering 5.06 points compared to 5.0 points in 2022.
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Egypt’s PMI for non-oil business inches up slightly in February: S&P Global
As a result, employment fell at the fastest rate in nine months and business confidence was at a near-record low, according to the report.
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Egypt's foreign reserves increase $128M by end of February
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
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Fawry cooperates with XPay to provide the 'FawryPay Reference code' service
Fawry provides 'FawryPay Reference code' to 'XPay' customers and merchants in the Egyptian market.
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Annual budget of EGP 150 bln set for raising salaries, pensions
The money will be disbursed as of April as part of the state’s efforts to contain the wave of inflation and alleviate burdens on the public.
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Fawry & BOTIM Enable Digital Bill Payments for Egyptian Expats in UAE
The first-of-its-kind agreement is set to make life in the UAE simpler for Egyptian expats.
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Banque du Caire launches “Tally” e-payments company, with EGP 500m paid-up capital
“Tally” is a comprehensive platform for digital payment solutions in Egypt, with investments amounting to EGP 500m.
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Revenues of the public budget grew by 14.6 % over 6 months of fiscal year
The state’s general budget achieved a primary surplus of EGP 25.5 billion during the period from July to December of the fiscal year 2022/2023.
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How deep are Egypt's economic troubles?
Some of the causes date back decades, such as failed industrial development and export policies that created a persistent trade deficit.
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Sisi decision to up cash assistance paid to beneficiaries of “Takaful & Karama” widely welcomed
El Sisi decided to increase by 25 percent the financial assistance paid to beneficiaries of the “Takaful & Karama” as of April 1.
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Global Environment Facility supports Egypt with $9.13mln grant
The Minister of Environment highlighted the importance of this grant at a time when the need for health and electronic waste management is increasing.
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Edita doubles its annual profits to over EGP1bn in 2022
The profits of Edita Food Industries increased by 93% to EGP 1.02bn in 2022, compared to EGP 528.8m in 2021.
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Banque Misr, Banque du Caire, Misr Insurance Holding Group, Allianz Egypt launch Real Estate Investment Fund 1
Real Estate Investment Fund 1 signed a deal to purchase commercial real estate assets from Talaat Moustafa Group in Al-Rehab City and Madinaty
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World Bank grants Egypt $9.13 M to expand the greater cairo air pollution management and climate change project
The development of this project is to support Egypt’s 2050 Climate Strategy
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Electro Cable logs higher consolidated profits in 2022; capital reduction proposed
The sales hit EGP 5.69 billion last year, higher than EGP 2.66 billion in 2021, according to the income statements.
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JumiaPay to facilitate e-payment for ZoomCar through new partnership
e-commerce platform has teamed up with Zoomcar to endorse online payment and collection transactions for car rentals, according to a press release.
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Interview: EBRD to invest in Egypt over $1.4 bln in 2023
The EBRD has financed 163 projects since it began operations in the country. Of these projects, 57 percent were directed to the private sector.
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World Bank announces $9.13 mln grant to support Egypt’s climate change efforts
The grant is from the Global Environment Facility (GEF) to expand the scope of the Greater Cairo Air Pollution Management and Climate Change Project.
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Gulf states have given billions in aid to Egypt. Now they want to see returns
The nation is seen by its neighbors as vital to regional stability and has often found a helping hand from richer Arab states.