Finance News
-
Rowad 2030, VictoryLink sign MoU to support startups
The objectives of the memorandum mainly focus on enabling joint cooperation mechanisms between the two parties to provide integrated services.
-
Egypt among top 10 world's fastest growing economies in 2022
The center said that many developments took place in 2022 in spite of the international crises that cast a shadow on various economies.
-
Egypt interest rate forecast in 5 years: Will CBE keep tightening to meet IMF requirements?
Headline inflation accelerated to nearly 19%, while core inflation, which excludes food and regulated items, surpassed 21% in the most recent reading.
-
Central Bank of Egypt ends Letter of Credit system for importing
The CBE announced that it would begin a process of phasing out letters of credit system for import finance by the end of December.
-
valU and PayTabs Egypt team up with TicketsMarche to offer payment solution
The tie-up aimed at enabling TicketsMarche’s customers to finance and pay for their ticket purchases through valU and PayTabs Egypt.
-
Egypt increases private sector minimum wage to EGP 2,700 a month
Egypt’s National Wages Council (NWC) has set the minimum wage for private sector workers at EGP 2,700 ($109) per month, up from the previous EGP 2,400
-
Egyptian B2B fresh produce platform Mahaseel Masr raises funding to scale
Mahaseel Masr is a smart digital platform that provides a wide range of digital tools to facilitate transactions online reliably and securely.
-
EBank seeks 18% higher profits in 2023
The bank estimates to achieve a net income of EGP 4.032 billion in 2023.
-
Egypt leads 2022 gains, Saudi marks first annual loss in 7 years
The Egyptian bourse was the Middle East's best performer in 2022.
-
Fawry joins together with Classera to encourage digital payments in Egypt’s educational sector
As part of this partnership, “Fawry” provides Classera customers with all technology solutions and integrated digital payment services.
-
The Egyptian Banking Institute signs a cooperation agreement with Talogy
In alignment with EBI's strategy for developing the human capital in the Egyptian banking ecosystem.
-
Ten years in prison, fine in millions for US dollar manipulators, CBE
CBE also said that it has monitored violations in money transfers from Egyptians residing abroad.
-
Egypt's central bank taking action to regulate forex market
The bank had observed "illegal practices related to the foreign exchange market" and illegal attempts to make quick profits, its statement said.
-
Egypt's central bank makes exemptions for limits on cash withdrawal overseas
The limits on cash withdrawals in foreign currency were lifted for expats who need the cash for medical treatment or education.
-
Launch of Menthum – a pioneering digital saving solution in Egypt
Brings together a novel product concept, an innovative workflow, and a money market fund to create a comprehensive CX.
-
Egypt’s financial expansion to decrease to 4.5 percent in FY 2022-23
Throughout the fiscal year 2022-23, inflation is forecasted to exceed over the Central Bank of Egypt’s aimed at range from 5 to 9 percent.
-
Egypt's new budget targets 5.5% economic growth in new FY2023/24
The Ministry of Finance’s departments were mobilised this week to prepare Egypt's new FY2023/24 budget aiming for a 5.5 percent growth rate.
-
Developing countries can reduce impact of recession in 2023
UN Climate Change High Level Champion for Egypt Mahmoud Mohieldin said that developing countries can find ways to alleviate impacts of recession.
-
Yearender 2022: What are the four major economic challenges Egypt will face in 2023?
The COVID-19 pandemic continues to create serious challenges for the Egyptian economy, which has been exacerbated by the Russian-Ukranian conflict.
-
NBE denies issuing savings certificates with a return of 20%
The bank does not plan issuing higher savings certificates in the present time.