Finance News
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How to purchase bonds in Egypt
The Egyptian government will issue $3 billion in sovereign bonds in a further attempt to boost its declining foreign exchange reserves.
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egistering fund certificates in EGX to allow investors to compare market and book values
This will lead to radical change in regulating items for funding activities in executive regulations of the Market Law as well as those of IPO.
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Egypt's central bank keeps interest rates unchanged in September
The bank kept overnight deposit rate, overnight lending rate and rate of CBE's main operation at 11.75 percent, 12.75 percent and 12.25 respectively.
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The story of Yaoota and challenges facing start-ups in the Egyptian market
Egypt is a country with great opportunities but what start-ups really need is more local investors willing to take risks, says Yaoota CEO.
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The Egyptian Economy in 2016
2016: an opening for Egypt’s economy to recover or an entryway into a dark tunnel? International lending is threatened with the fate of Gulf aid.
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Egypt says it's in talks with China over $4B loan
Of the $4 billion, 3 would be spent on development projects, mostly power sector. The remaining $1 billion would be used to bolster foreign reserves.
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IMF sees 'productive' talks on Egypt loans with China, Saudi Arabia
IMF spokesman said that he expected the Fund's board to meet in the next few weeks to consider a $12 billion financing program for Egypt.
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CBE expected to increase interest rate by 1% on Thursday
High inflation, application of VAT would raise Egyptian pound’s interest rate by 2% by the end of 2016, says analyst.
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Egypt's new VAT now in force
President Sisi ratified the VAT and thus is officially implemented.
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Egypt receives first $1 bln tranche of World Bank loan
The World Bank has provided Egypt with the first $1 billion tranche of a $3 billion loan, as part of its support for the government's economic program
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Egypt’s approval of value-added tax is credit positive
Moody's Investors Service said Egypt's approval of the value-added tax is a credit positive despite being approved at 13% instead of 14%.
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US-Egypt Business Council supports government’s request for IMF loan
The successful implementation of this agreement will help Egypt transition to a more market-oriented economy with a robust private sector.
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Approval of the VAT is a historic achievement
Change in national tax code will affect all portions of society, unless explicitly exempted.
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SMEs may be the key for a better Egyptian economy
SMEs have the ability to provide a large number of jobs to subdue unemployment and produce important products.
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Egypt's parliament approves VAT at 13pct rate in 2016/17
The new tax is scheduled to be implemented in September.
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Egypt sold three-year treasury bonds worth EGP 31 bln
They were sold in an exceptional auction that was exclusive to state-owned banks.
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UAE to deposit $1B in Egypt central bank
The $1 billion (800,000 euro) deposit, which is for a six-year period, comes as part of the UAE's "unwavering position in supporting Egypt.
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Egypt to offer 20 to 30% shares in public business sector
The coming period will witness offerings of parts of the capital of successful Egyptian companies and banks on the bourse.
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Egypt negotiates a $1 bln fund from China for sanitation projects
Over the past 11 months, the ministry of int. cooperation succeeded in managing $11.5 billion in financial inflows to support the country's economy.
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Egypt has shut down half of its licensed currency exchange bureaus for violations
Of the currency exchange bureaus closed, a total of 26 have been closed permanently and their licences revoked.