Finance News
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U.S. to withhold up to $290 million in Egypt aid
The United States has decided to deny Egypt $95.7 million in aid and to delay a further $195 million because of its human rights record.
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Egypt to hold treasury bill auctions before Eid holiday, bonds after
Egypt will hold several treasury bill sales on Wednesday, replacing auctions originally scheduled during the coming Eid holiday.
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Trump Administration Cuts Military Aid To Egypt
This week the administration surprisingly cut some military aid over Egypt's worsening human rights record.
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Egypt's budget deficit drops to 10.9 percent in 2016/17
Egypt's budget deficit for the fiscal year 2016/17 stood at 10.9 percent as opposed to 12.5 percent the year before.
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Top-performing Arab economy balks at currency float on Egypt
Moroccans afraid of Egypt's scenario of devaluation, start buying dollars and euros.
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USD bank exchange rate below LE18, stable
The US dollar is being sold at LE17.87 and bought at LE17.77 at the National Bank of Egypt (NBE) and Banque du Caire.
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Egypt reserves reach record high of over USD 36 billion
The increase is equal to the reserves in 2010 and this figure is 4.7 billion dollars higher compared to the previous month.
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Egypt to lower customs exchange rate to 16.25 pounds/dollar
The new rate will be set for one month effective from Tuesday.
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Egypt’s stock market gains EGP 4.7 bln
This was due to gains supported by foreign investors buying operations، and by Egyptian and Arab investors tended towards selling operations.
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Egypt investment bank gets brokerage licence
EFG-Hermes has been licensed to operate a stockbroker unit in Kenya with an eye on an investment bank permit.
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Abu Dhabi fund grants $1bn for projects in Egypt UAE Business
The funded projects spanned over diverse sectors, transport, housing, agriculture and irrigation, energy, industry and mining, education & healthcare.
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Moody says IMF review is 'credit positive' for Egypt
The IMF's executive board completed the first review of a $12 billion loan to Egypt, disbursing the final instalment of $1.25 billion.
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US dollar exchange rate relatively declines Wednesday
The rate went down to LE17.90 for purchase and LE18 for sale at al-Baraka Bank, the Commercial International Bank (CIB) and National Bank of Greece.
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Egypt receives final $1.25 bln in first tranche of IMF loan
According to an informed source at the CBE, the bank received the installment on Tuesday.
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Average yields on Egypt's five- and 10-year T-bonds rise
The average yield on the five-year bonds rose to 18.934 on Monday from 18.349 at the last similar auction on June 19.
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US dollar exchange rate surpasses LE18
The rates at the National Bank of Egypt (NBE) are LE17.82 for purchase and LE17.92 for sale.
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IMF chief praises Egypt's measures on economic reforms
The head of the International Monetary Fund has praised Egypt's reform measures, saying they will set the country on "a path of stability."
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Egypt Economy to recover in 2018 with expected inflation hikes
A gradual recovery in the economy is expected in 2018, with 2017 being difficult but paving the way for a better year: Arqaam Capital.
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Egypt’s economy shows signs of vigour: BNP Paribas
Inflation isn’t the only reason behind the soaring inflation,the increase in the prices of semi-finished goods and commodities is also to blame.