Finance News
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Egypt plans to issue Chinese Yuan-dominated bonds
Minister of Finance Mohamed Maait announced that the government is considering issuing Yuan-dominated bonds that will target Chinese market.
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Q&A on Egypt’s FY 2022/23 budget
On 1 July, Egypt’s FY 2022/23 budget will be rolled out with a total value of EGP 9.2 trillion, the highest in the country’s history, growing by 16.3.
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EBRD upgrades Egypt’s GDP growth forecasts in FY2021/22 by 0.8%
The European Bank for Reconstruction and Development (EBRD) raised its projections for Egypt’s GDP growth for the current FY2021/22 to 5.7 percent.
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Egypt’s non-oil economy continues to fall amid inflation
The reading still records under the 50 threshold limit, marking the second-fastest decline in business conditions since June 2020.
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Egypt to delay sale of state company shares until Sept
Egypt will delay the planned offering of shares on the stock exchange of a number of state companies until after the summer vacation.
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S&P affirms Egypt's credit rating at B/B with stable outlook
Both the short term rating and the local currency short term default rate stand at B, while the country ceiling is B+.
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ABE completes preparations ahead of wheat harvest season
The bank is also facilitating supply operations from farmers and receiving all wheat supplied from them.
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Egypt’s annual headline inflation continues to rise
Egypt’s headline annual inflation rate registered 12.1 percent in March of this year compared to 4.8 percent in March of last year.
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Egypt, EIB cooperation portfolio amounts to €7bn
We look forward to the bank’s efforts to reduce the cost of green finance in developing countries: Finance Minister.
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Egypt plans lowering debt to GDP ratio to below 85%
Egypt is planning to lower its debt to GDP ratio to below 90 percent by the end of the current FY2021/22 which will conclude at the end of June 2022.
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Saudi Arabia deposits $5 billion in Egypt's central bank
Last week Egypt said it was in talks with the International Monetary Fund for potential funds and technical support to hedge.
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Egypt keen to create conducive business environment
A sum of $400 billion was spent in the past seven years to develop the basic infrastructure.
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Swvl starts trading on a SPAC combination
The combined company, now “Swvl Holding Corp,” will trade under GMBT and GMBTW today before switching to SWVL and SWVLW on April 1.
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Egyptians can now transfer money instantly with the CBE’s new app
The application was developed by Egyptian Banks Company, the CBE’s technological arm, under the guidance of its umbrella company.
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Egypt issues Japanese Yen-dominated bonds worth $500 mln
Egypt issued on Thursday Japanese Yen*-dominated bonds with a total of $500 million, the first of their kind in Egypt and the Middle East.
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Egypt's budget deficit hit EGP 368 bln in 8 months
Egypt's budget deficit hit EGP 368 billion from July 2021 to February 2022, compared to EGP 320 billion during the same period a year earlier.
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UAE Pumps Money Into Egypt as Food-Price Surge
A major food importer, Egypt’s been hit hard by record grain prices fueled by the Russian invasion.
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Egypt launches financial, social protection measures
Egypt’s Ministry of Finance approved on Monday a package of financial and social protection procedures, worth EGP 130 billion.
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Egypt's central bank raises interest rates
The Central Bank of Egypt has raised its key interest rate for the first time since 2017, citing inflationary pressures triggered by the coronavirus.
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Egypt has a new FinTech support fund
Egypt’s largest national banks — Banque Misr, National Bank of Egypt (NBE), and Banque du Caire — as well as Global Ventures launched “Nclude".