Finance News
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B.TECH and CIB conclude the first securitized bond issuance worth EGP1.038bln
This issuance comes as part of a short-term EGP 5 billion securitization issuance program over two years.
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Egypt inflation, at five-year high, seen quickening in December
The central bank allowed the Egyptian pound to depreciate by about 14.5% on Oct. 27 and let its value continue weakening slowly and incrementally.
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Egypt commits to IMF to slow projects, increase fuel prices
In a letter of intent to the IMF dated Nov. 30, the government said it sought the support after the war in Ukraine increased existing vulnerabilities.
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Egypt to receive the second tranche of IMF’s $3 bln loan by end of March
The IMF approved in December a 46-month loan for Egypt under the Fund’s Extended Fund Facility (EFF) to address the impacts of the war in Ukraine.
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HD Bank registers block trading worth over $1.74mln
The transaction was carried out on 1.90mln of the bank’s shares.
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IMF expects Egypt's economy to grow by 5.9% in 2025/2026
The IMF expected Egypt's economy will grow by 4% in the 2022/2023 current fiscal year (FY), 5.3% in the fiscal year 2023/2024.
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All you need to know about Egypt’s commitments, targets under new IMF programme
The report detailed the main targets and commitments the government has pledged under the four-year programme.
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EBRD promotes Egypt's transition to green energy with €1.3 billion
Moving from pledges to finance mitigation and adaptation projects from the repercussions of climate change.
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Egypt’s currency drop barely closes gap with black market rate
The pound extended last week’s devaluation of 9% and fell 1.6% as of 4:22 p.m. in Cairo on Monday.
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Egypt's green public investments to increase 50% by 2025- Minster
Green projects include manufacture of electric vehicles or those equipped with natural gas, solar energy, green hydrogen, desalination of sea water.
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Saudi family businesses on show at Bayt Al-Arab expo in Egypt
The exhibition, opened at Al-Qubba Palace in Cairo on Thursday and runs until Jan. 11, is supervised by the Egyptian Ministry of Social Solidarity.
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World Bank: Egypt's economic reforms helpful in overcoming int'l crisis
Reforms since 2014 ease macroeconomic imbalances, enhance performance of energy sector, and mobilize financing enabled the country to face crises.
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Jumblat calls on Arabs to support crisis-hit Egypt
"whatever the circumstances might be, supporting Egypt means supporting Arab stability and resilience above all else." He said.
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Proceeds from high yield saving certificates in NBE and BM reach nearly EGP 100 billion in just 48 hours
The certificates are also available at a 22.5 percent yield for monthly disbursement.
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Saudi Arabia announces contractual exceptions for companies without HQ in Kingdom
The decision, was issued in 2021, and will enter into force in 2024, restricts any contracts with bodies, institutions, and funds affiliated with gov.
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Egyptian banks collect EGP 24 billion from 25% certificates within two days
The head of Banque Misr confirmed that this scenario had been repeated before, as banks offered certificates and savings with a 20% return in 2017.
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Sisi: Egypt needs EGP 70tn to achieve development
Sisi put the total value of development achieved in Sohag so far at 102 billion pounds. Ans what upgrading the rest of the governorates would cost.
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Microfinance increases to $2.37bln in June 2022
The CBE revealed that banks are obligated to increase the portfolio of loans and credit facilities directed to SMEs to reach 25% of their total credit
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Abu Dhabi Islamic Bank increases stake in its Egyptian unit to more than 52%
With more than Dh147 billion ($40 billion) in assets at the end of September, ADIB is also active in Saudi Arabia, the UK, Sudan and Iraq.
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Bank ABC finalizes legal merger with BLOM Bank Egypt
Bahrani Arab Banking Corporation (Bank ABC) has completed the legal merger of its two Egyptian subsidiaries BLOM Bank Egypt and Bank ABC Egypt.