Finance News
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Jumblat calls on Arabs to support crisis-hit Egypt
"whatever the circumstances might be, supporting Egypt means supporting Arab stability and resilience above all else." He said.
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Proceeds from high yield saving certificates in NBE and BM reach nearly EGP 100 billion in just 48 hours
The certificates are also available at a 22.5 percent yield for monthly disbursement.
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Saudi Arabia announces contractual exceptions for companies without HQ in Kingdom
The decision, was issued in 2021, and will enter into force in 2024, restricts any contracts with bodies, institutions, and funds affiliated with gov.
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Egyptian banks collect EGP 24 billion from 25% certificates within two days
The head of Banque Misr confirmed that this scenario had been repeated before, as banks offered certificates and savings with a 20% return in 2017.
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Sisi: Egypt needs EGP 70tn to achieve development
Sisi put the total value of development achieved in Sohag so far at 102 billion pounds. Ans what upgrading the rest of the governorates would cost.
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Microfinance increases to $2.37bln in June 2022
The CBE revealed that banks are obligated to increase the portfolio of loans and credit facilities directed to SMEs to reach 25% of their total credit
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Abu Dhabi Islamic Bank increases stake in its Egyptian unit to more than 52%
With more than Dh147 billion ($40 billion) in assets at the end of September, ADIB is also active in Saudi Arabia, the UK, Sudan and Iraq.
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Bank ABC finalizes legal merger with BLOM Bank Egypt
Bahrani Arab Banking Corporation (Bank ABC) has completed the legal merger of its two Egyptian subsidiaries BLOM Bank Egypt and Bank ABC Egypt.
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What is the aim of Banque Misr’s one-year savings certificate at 25% interest rate return?
Economists said that Banque Misr’s announcement on Wednesday of a one-year savings certificate with 25 interest rate will help to curb inflation.
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National Bank of Egypt and Banque Misr to open on Friday, Sunday to sell 25% saving certificates
NBE announced on Thursday that 140 of its branches nationwide will be opened on both Friday (from 2 PM to 6 PM) and on Sunday (from 9 AM to 3 PM).
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Egypt allocated LE 4.4 bln investments for Red Sea governorate
The first goal is to provide the largest number of jobs and attract investments, whether local or foreign.
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US dollar price hits LE27 on Thursday
Egypt’s central bank hiked overnight interest rates by 300 basis points on Thursday, December 22, in an attempt to curb inflation rates.
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UAE’s ADIB now owns more than 52% of Egyptian unit
Bank confirms acquisition of additional 2.4% stake in ADIB Egypt.
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Egypt leads MENA in startups' raised funds in December: Wamda
In total, MENA’s startups raised $125 million over 38 deals in December, bringing the total amount raised in 2022 to $3.6 billion.
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Egyptian president inaugurates projects in Sohag recipient of LE102B-worth of public investments
Prime Minister Mostafa Madbouli stated during the ceremony that 6,340 new classrooms were built in Sohag at a cost of LE2 billion.
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Egypt's currency weakens to 26.49 to the dollar
Currency flexibility is a key demand by the International Monetary Fund, which approved a 46-month, $3 billion financial rescue package in October.
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NBE, Banque Misr issue 25% saving certificates for a year
This is the highest ever in Egypt. return of the certificate is paid at 25% interest at the end of the term, or at a monthly rate of 22.5%.
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Egyptian MPs call for sacking Supply Minister over soaring prices
Nafie said that: “The ministry handed over the Egyptian people to greedy merchants, and helped to magnify the role of monopolists".
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Bank ABC Egypt targets new era of growth following completion of legal merger with BLOM Bank
The two banks have now become a single legal entity after receiving final regulatory approvals, including those of the Central Bank of Egypt.
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Egypt’s central bank announces increase in its gold reserves
The Central Bank announced that the balance of foreign exchange reserves increased to $34.002 billion at the end of December 2022.