Finance News
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Everything you need to know about the new 85% CD from ABK-Egypt
The Al Ahli Bank of Kuwait – Egypt on Tuesday announced the launch of a three-year certificate of deposit with an interest rate of 85 percent.
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World Bank Expects Africa's Economies to Grow by 3.4% in 2024
The report expects growth to rebound in 2024, rising from a low of 2.6% in 2023 to 3.4% in 2024, and 3.8% in 2025.
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Banque Du Caire Introduces Green Financing Programs For Solar Panels In Egypt
This move aligns seamlessly with Banque Du Caire’s persistent endeavors to promote sustainable financial solutions.
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Finance Min.: Up to EGP 50 Million of "Change" Offered on Occasion of Eid al-Fitr
This is to facilitate on citizens and meet the needs of markets; ensuring easiness of buying and selling and avoiding any congestion in parking.
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Valu Empowers ESLSCA Students with Flexible Payments Solutions
As part of this partnership, Valu will fully fund two full scholarships for exemplary students based on a mix of criteria.
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Egypt inflation: Pressure persists despite sharp fall, say experts
Monthly inflation rate was 1% in March, down from 11.4% in February. Prices of food and beverage, the largest single component of the CPI basket.
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Egypt’s balance of payments turns into deficit of US$410 million
This compares to a surplus during the same period in the previous fiscal year of $559.1 million.
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Egypt's startup deals hit 129 companies securing over $1M
This initiative, aimed at nurturing entrepreneurship and assisting startups in Upper Egypt, has successfully nurtured a total of 116 companies.
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Egypt budget initial surplus jumps over 8.5 folds in 1st 9 months of FY2023/2024
Non-sovereign tax revenues grew by 32 percent and sovereign tax revenues by 83 percent, Maait added.
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Egypt's urban consumer price inflation slows to 33.3 percent in March
A poll of 12 analysts had expected Egypt's annual urban consumer price inflation rate to climb to a median 36.3 percent.
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Egypt "Most Represented" in Forbes' Middle East’s Fintech 50 List
Egypt is the most represented on the list with 13 companies, followed by the UAE and Saudi Arabia with 11 companies each.
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Egypt aims to reduce debt ratio to 80% by 2027
The minister highlighted that these targets are led by achieving a significant initial surplus of 3.5 percent of the GDP, reducing the total deficit.
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Egypt banks to close for six days for Eid Al-Fitr
The Central Bank of Egypt (CBE) has announced that banks operating in Egypt will be closed from Tuesday 9 April to Sunday 14 April to celebrate Eid.
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Egypt central bank launches new initiative for supporting FinTech-enabled woman entrepreneurs
It provides women entrepreneurs with intensive training sessions and workshops on different fields, directing them to adopt innovative FinTech.
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5 things you need to know about the upcoming Egypt-EU investment conference
Mark your calendars! Egypt is gearing up to host a pivotal joint investment conference with the European Union (EU) on the 29th and 30th of June.
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Egypt's NIRs reach $40 bln in March - the highest since February 2022
Egypt’s Net International Reserves reached $40.36 billion at the end of March 2024, the highest since February 2022.
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Egypt's non-oil business sector yet to gain from IMF deal, PMI shows
An expanded IMF agreement and major investment by the UAE provided little relief to Egypt's non-oil private sector in March.
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Egypt's Sisi starts third term pledging more investment, social spending
Sisi swept to victory in an election last December with 89.6% of the vote and no serious challengers.
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Egypt’s net foreign assets deficit shrinks by $7.04 billion in February
NFAs represent both central bank and commercial bank assets held by non-residents, minus their liabilities.
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Efforts to integrate informal economy, expand tax base: Finance Minister
Minister Maait has issued firm instructions to swiftly address tax evasion and the improper withholding of taxes by businesses.