Finance News
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Egypt is taking critical steps towards managing fiscal risks
Georgieva said that the region’s inflation is expected to gradually decline as commodity prices settle and tighter monetary and fiscal policies work.
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The Egyptian Banking Institute signs an agreement with Egyptian Banks Company
The MOU comes in line with the strategic cooperation between EBI and EBC, with the purpose of providing training programs for member banks.
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President sisi discusses cooperation with Copelouzos Group
Copelouzos Group a mega infrastructure investor is studying to establish projects for production and transfer of clean energy from Egypt to Europe.
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USD/EGP rises 8 piastres to 30.55
The official price of the dollar in the Central Bank of Egypt (CBE) recorded EGP 30.55 to sell and EGP 30.46 to buy.
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African development bank appoints Abdourahmane Diaw as country manager for Egypt
Immediately prior to his appointment, Diaw was Officer in Charge of Egypt Country Office and served as Regional Manager.
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The 32 state companies to see stakes sold on EGX
Egypt’s Cabinet released on Wednesday a list of 32 state companies which it intends to sell stakes from over the next year.
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ADIB-Egypt honored with 20 awards in 2022
From leading global and regional institutions recognizing achievements in Islamic banking and digital innovation.
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Egypt's urban inflation reaches its highest rate in 5-years at 25.8%
Inflation recorded 150.6 points in January 2023, recording a 4.9 percent increase compared to December 2022, the CAPMAS said.
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World Bank launches report on achieving demographic dividend in Egypt
The World Bank Group launched Tuesday a report entitled “Achieving the Demographic Dividend in the Arab Republic of Egypt: Choice, Not Destiny”.
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Network International introduces direct to merchant payments acceptance service in Egypt
Launch under new ‘networkpay’ brand to boost digital payment acceptance & financial inclusion in Egypt.
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Egypt to initiate IPO programme under IMF-backed loan deal in March
Egypt intends to initiate the first stage of the IPO programme under its new loan agreement with the IMF in march.
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Government plans tax facilitations for investors
Finance Minister Mohamed Maait and Prime Minister Mostafa Madbouly reviewed draft laws that include tax facilitations for investors in Egypt.
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US dollar price stabilizes in Egypt
The price of the US dollar against the Egyptian pound stabilized in mid-trading, Wednesday, February 8, recording at the Central Bank of Egypt.
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Banks inject EGP 53.2bn in mortgage financing initiative for low-income individuals
This comes within the framework of the mortgage financing initiative for low-income individuals, until the end of January 2023, which is 95.8% of fund
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$1.65bn in transfers done through the company during 2022: IBAG
IBAG, the official and oldest agent of Western Union in Egypt since 1995, revealed that the number of transfers from Egyptians abroad reached 2.8 m.
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Saudi Alinma Investment raises stake in Egypt’s Rekaz Holding to 7.06%
The Riyadh-based firm purchased 412,873 shares in the Egyptian company for EGP 1.30 million, at an average price of EGP 3.17 per share.
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Egypt’s real GDP growth to slow to 3% in 2023 as higher inflation looms
Egypt’s real GDP growth is expected to moderate to 3% in 2023 with a higher inflation anticipated Fitch Solutions said in its MENA Monthly Outlook.
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FRA approves Aman for Financial Services’ EGP 400m bond issuance
The issuance will be completed during the current month, to make new expansions for the company during the first half of this year.
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IBAG records a 7% increase in growth rate in 2022, shares 2023 plans
International Business Associates Group for Money Transfer Services, S.A.E. (IBAG) recorded a total of US$1.65 billion worth of transfers in 2022.
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Egyptian non-oil private sector declines to 2-year low
Egypt's purchasing managers' index (PMI) for the non-oil private sector declined by 1.7 points in January to 45.5, down from 47.2 in December.