Finance News
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Qalaa Holdings records 86% YoY growth in Q3 consolidated revenue
Excluding Egyptian Refining Company (ERC), Qalaa’s revenues increased by 25% YoY to EGP 5.9 billion in Q3 2022.
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Facilitating private sector-led growth in Egypt is crucial, says IMF
IMF recently approved a deal that will provide a $3bln support package to Egypt.
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UAE's Agthia eyes to accelerate its businesses in Egypt
With net revenue of AED 954 million during the Q3, Smith noted that the group's coming strategy focuses on the categories it’s currently operating.
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The parallel currency market is fading in Egypt?
Kamal added that the Central Bank’s Monetary Policy Committee is expected to approve a significant interest rate hike on Dec. 22.
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Exchange rate flexibility is important for Egypt: IMF
A heavily managed exchange rate has not served Egypt well. It has led to periods of building imbalances.
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What does 2023 hold for Egypt's venture capital market?
Tarek Assaad, Managing Partner at Algebra Ventures, shares his insights with Zawya on Egypt's venture capital market.
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FEI head commends CBE decision to stop funding loans
CBE is not responsible for backing such initiatives, but it is a must that the government offers backing to such sector.
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Egypt parliament approves bill allowing exchange of tax info with other countries
Minister of Finance Mohamed Maait told MPs that the scope of the bill is limited to exchanging tax information with member states of the Forum.
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CAPMAS: Inflation increased to 18.7% in November
According to Naeem, supply shortages and increasing production expenses were the main factors behind the monthly increase.
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EGP 1.6bn directed to tourism promotion, aviation stimulus in FY 2021/22
The Minister added that spending on aviation stimulus amounted to EGP 850m during FY 2021/22, and EGP 800m for promoting Egyptian tourist destinations
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Egypt: Banque du Caire registers $117.65mln in Q3-22 net profits
The bank's net income from returns grew by 19% annually in Q3-22.
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IMF loan will enhance economic growth, social protection
The new $3 billion loan to Egypt approved on Friday by the International Monetary Fund (IMF) will be used to support the country’s programme.
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Finance ministry getting ready to launch incentive program
Maait said that the program aims at creating a new tax culture that urges citizens to ask for a receipt from the shops.
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Saudi sovereign wealth fund in talks to acquire Egyptian bank for $600mln
The $620 billion sovereign wealth fund would carry out the transaction through the Saudi Egyptian Investment Company (SEIC).
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Ahli United Bank – Egypt Wins “Bank of the Year- Egypt” award
The Banker, an international financial publication, has awarded Ahli United Bank – Egypt as “Bank of the Year for Egypt in 2022” in London.
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Businessman Tarek El-Amin passes away due to his illness
The late businessman suffered from lung cancer. His medical case worsened after cancer emerged in his body, reaching the bones.
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10 things you need to know about Egypt new IMF loan
How many billions has Egypt received from the IMF so far? are there measures to protect the vulnerable? why devaluate the pound?
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IMF approves $3 billion Egypt loan to support ailing economy
The approval on Friday by the IMF executive board will enable an immediate disbursement of about $347 million.
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Germany provides €370 million to finance 16 projects in Egypt until 2024
This came after the ministry organized the Egyptian-German round of governmental negotiations for the year 2022.
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Qalaa Holdings’ consolidated revenue grew a remarkable 86% y-o-y to EGP 23.7bln in 3Q22
Recurring EBITDA recorded EGP 8.8 billion compared to EGP 1.2 billion in 3Q21.