Finance News
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Al Baraka Bank-Egypt’s 2022 consolidated profits hit $56mln; dividends proposed
Earnings per share (EPS) stood at EGP 2.12 last year, higher than EGP 1.37 in 2021, according to the income statements.
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Saudi, Emirati investors express their desire to invest in Egyptian market
This came during a promotional tour by an Egyptian delegation to both Saudi Arabia and the United Arab Emirates (UAE).
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EIPICO’s board approves issued capital hike to $48mln
In the first nine months of 2022, EIPICO recorded an annual surge of 28.80% in consolidated net profits.
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5 Indicators that reveal the direction of Egypt’s Economy
Policy makers see it different this time, after a large group of promised reforms that will transform Egypt’s markets and its economy.
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Egypt court to rule soon in case over Intesa's local unit
Egypt is seeking to raise cash after its financial markets suffered heavy foreign investment outflows in the wake of the Ukraine war.
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PaySky, Dahab Masr team up to offer gold investment through online app
Egypt-based digital payment provider PaySky announced on Sunday a partnership with Dahab Masr to offer an online gold investment app.
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Egyptian FinTech investment set a new record in 2022 driven by large deals
Cairo was the most active city in Egypt with 30 deals, accounting for 81% of FinTech deals in the country during 2022.
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Egyptian billionaire Nassef Sawiris cuts a $5.85 million deal with Vitoria Sport Clube
Egyptian billionaire Nassef Sawiris made global headlines in 2018 when he acquired stakes in the English football side, Aston Villa.
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Real-time gross settlement between banks records EGP 10.85trn in January 2022
The total RTGS in 2022 amounted to EGP 119.901trn through about 2.836 million transactions.
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Long Live Egypt Fund allocates bank account for Syria relief
The fund has designated a hotline No. 15118 to receive inquiries, to receive contributions from inside and outside Egypt to provide relief to Syria.
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Deadline for joining e-invoice system set at April 1
The minister added that the application of digital tax and customs systems allows integration between the tax and customs authorities.
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Egypt to start investor meetings for debut islamic-bond sale
Egypt will start meeting investors this week before a potential debut sale of Islamic bonds known as sukuk.
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Turkish firms pledge investments in Egypt as relations thaw
Turkish companies have committed to $500 million in new investments in Egypt after a visiting business delegation met the prime minister.
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World Bank to discuss five-year program for Egypt in March
The international financial institution has already committed $900 million to the North African country this fiscal year.
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Egypt’s M&A activity shrinks to $4.2 bln in 2H of 2022
Mergers and acquisitions (M&A) in Egypt decelerated in the second half (2H) of 2022, said a recent report by global law firm Baker McKenzie.
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Eastern Company’s profits up to $113.9mln in H1-22/23
Additionally, the earnings per share (EPS) increased to EGP 1.47 in H1-22/23 from EGP 1.23 in H1-21/22.
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Egypt works IFAD to mobilize diverse financing mechanisms, stimulate private sector participation in food security
Al-Mashat said that recent global developments showed the need for urgent climate action that promotes water, food and energy security.
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EBRD downgrades forecasts for Egypt’s growth by 1% in FY2022/23
Highlighting Egypt’s economic scene, the report explained that the country’s economy recovered strongly from the COVID-19 pandemic in FY2021/2022.
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CBE reveals reasons for high inflation in Egypt
It attributed this rise to the continuation of supply chain disruptions and fluctuations in the exchange rate of the Egyptian pound since March 2022.
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Egypt is very attractive investment destination, but needs incentives
Clarity and transparency are necessary to enhance private sector engagement in economy, says Karim Helal.