Finance News
-
Egypt’s Central Bank faces multiple crises
CBE will likely raise interest rates at today’s meeting to curb inflation, which has risen to unprecedented levels in Egypt.
-
Egypt-Australia trade exchange reaches AUD 1bn in FY2022
Australia’s Ambassador to Egypt Axel Wabenhorst has said that the trade exchange between Australia and Egypt reached AUD 1bn in fiscal year 2021/22.
-
Egypt Approves 2023/24 Budget with Target Growth of 4.1%
He pointed out that the total revenues in the new budget are expected to grow by 38.4%, while tax revenues are expected to grow by 28%.
-
All eyes on Egypt's central bank meeting today amid expected interest rates hike
The CBE Monetary Policy Committee is scheduled to convene on Thursday to review the key interest rates for the second time in 2023.
-
Greece's Mytilineos Holdings aims for investing in Egypt
The company aims for investing in solar plants, solar storage batteries, other fields of new and renewable energy, oil and gas, and energy solutions.
-
13 golden licences granted to companies, 40 others under study: GAFI
Mytilineos is a leading global company in the fields of energy and industrial fields and is present in the five continents of the world.
-
Egypt secures $2.6 bln in development finances for private sector in 2022
The report shows that The OPEC Fund for International Development was the top institution that provided this amount, with a value of $1.21 billion.
-
‘Pakistan should replicate Egyptian model to spur digital payments’
The adoption of digital payments has been slow, despite the growing numbers of financial inclusion, particularly in digital payments acceptance.
-
Report: Will CBE raise interest rates at its next meeting?
The Research Department of HC Securities and Investment expected the Central Bank of Egypt’s Monetary Policy Committee would raise the interest rate.
-
EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International
The bond is backed by a receivables portfolio assigned to EFG Hermes Holding’s Financial Group for Securitization.
-
The Sovereign Fund of Egypt, A Developments partner for Cairo’s innovation district project
$26mln project involves redevelopment of Ministry of Interior’s former headquarter complex.
-
GEMMA unveils dividends for 2022
The ordinary general meeting (OGM) greenlighted a dividend on 27 March 2023, according to a bourse filing.
-
CBE reports EGP 112.7 billion in InstaPay transactions over one year
The Central Bank of Egypt (CBE) has announced that transactions worth EGP 112.7 billion were conducted via its InstaPay app over a year.
-
The BRICS Has Overtaken The G7 In Global GDP
The BRICS is also expanding – Bangladesh, Egypt and the UAE have all just joined the BRICS New Development Bank.
-
Value of microfinance in Egypt grows by 7.9% in 2022
Zulfaqar equally highlighted that the client base expanded by 10 percent to consist of a total of 4.7 million.
-
STC’s Giza Systems to spend up to USD 40 mn on acquisitions in 2023. PLUS: Al Baraka Bank + BdC’s Taly?
Giza Systems will target companies that have a significant presence in the Saudi market as well as an Egypt-based workforce.
-
20.3M transactions worth LE112.7B conducted via “InstaPay” in a year
70 percent of the transactions were conducted after the official working hours, and 30 percent during the official working hours.
-
Kuwait extends maturity of $2bn deposit at CBE to September 2023
The report on the external situation of the Egyptian economy revealed that Kuwait had two deposits at the Central Bank of Egypt, worth $4bn.
-
Abu Dhabi Islamic Bank – Egypt achieves net profit of EGP 2.190bn in 2022
A microfinance company will also be launched before the end of the second quarter of this year.
-
IMF chief warns risks to financial stability have increased
Her comments came after the financial sector was shaken by the collapse of Silicon Valley Bank and the enforced takeover of Swiss bank Credit Suisse.