Finance News
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Egypt in talks with EBRD over under-construction projects
The minister lauded the positive bilateral cooperation with the European bank in carrying out a number of projects in the transport domain.
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AMAN Holding announces 2022 business milestones & future plans for 2023
AMAN Holding future plans aim to provide a more inclusive bundle of non-banking financial products to promote financial inclusion and cashless economy
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Nice Deer collaborates with Misr Finance
Limitless, a subsidiary of Eva Pharma and Estsharion Medical Care signed to adopt the Nice Dear platform to manage their insurance systems.
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Egypt’s first bonds more than four times oversubscribed
The Egyptian Ministry of Finance issued a statement about Egypt’s first bonds system with the aim of resolving part of the US dollar shortage crisis.
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Egypt’s first sovereign sukuk issuance critical step for economy: Fitch Ratings
Some 250 investors from various global markets purchased these bonds, and their proceeds will be directed to finance public investment projects.
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PwC Middle East in Egypt hosts its annual Tax seminar highlighting local and global reforms in taxation
The seminar addressed the international tax updates and Pillar Two “Global Minimum Tax and its impact on businesses.”
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African Development Bank Holds First Industrial and Trade Business Opportunity Forum in Egypt
The meeting brought together industrial, agricultural, and private sector experts from 105 large Egyptian manufacturers and exporters.
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Egypt records highest-level foreign direct investment
The Prime Minister said in a press conference that the country recorded a 94 percent growth in foreign investment on a year-on-year basis.
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Saudi Arabia halts PIF’s plan to buy Egypt’s United Bank
Saudi Arabia has halted the plan of its sovereign wealth Public Investment Fund (PIF) to buy Egyptian lender United Bank, Bloomberg reported.
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Egypt’s Fintech Hollydesk Secures $1 Million in Venture Debt Financing
Egypt’s fintech Hollydesk has secured $1 million in venture debt financing from undisclosed investors.
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Zahraa Maadi logs $8.52mln profits in 2022 initial results; dividends proposed
Total revenues amounted to $12.80mln in 2022, an annual growth of 4.10%
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Egypt: Listing committee approves Sidpec’s capital hike
In November 2022, the shareholders of Sidpec greenlighted the capita hike, after the board had approved the increase in April.
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Egypt records highest-level foreign direct investment
The Prime Minister said in a press conference that the country recorded a 94 percent growth in foreign investment on a year-on-year basis.
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Egypt sells its first Islamic sukuk for $1.5 billion
Egypt sold on Tuesday its first US-denominated sovereign bonds, Islamic sukuk, with a total value of $1.5 billion, Minister of Finance Mohamed Maait.
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Banks across Egypt, Morocco, and Jordan face an uncertain 2023
The recent decline in energy prices and the resilience of tourism may soften the financial and operational impact on the banks, the analysts said.
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Net FDI in Egypt surge 94% during Q1 of 2022/2023
Egypt is the first investment destination for Arab sovereign funds, led by Saudi investments and Emirati investments.
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UAE-based Tabby suspends operations in Egypt
The Mubadala-backed BNPL platform says it will prioritise core markets, citing ‘recent macroeconomic developments’.
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Egypt-TEDA seeks to implement 7 new projects worth $5B
The SCZone remains committed to promoting Egypt-TEDA projects, whether inside Egypt or abroad, Gamaleddin stressed.
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Credit Agricole joins forces with Ahl Masr Foundation
Credit Agricole Foundation for Development has made a donation that will contribute to the establishment of Central Sterilization Supply Department.
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Amazon Payment Services launches the re:Imagine payments forum
The forum’s first white paper shows that digital payments will double across Egypt, United Arab Emirates, and Saudi Arabia 2023.