Finance News
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Egyptian businesses predict double-digit revenue growth
HSBC’s Navigator: Voice of Business report, which polled over 7,350 decision makers, 83% of businesses expect profitability to grow in next 12 months.
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NBE launches ‘B2B’ e-payment service for corporates
Bank aims to expand e-payments in line with Central Bank’s direction towards digital transformation: Aboul Fotouh.
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Egypt to sign agreement on tax of giant technology companies
137 countries, including Egypt, joined this historic agreement announced by the Organization for Economic Cooperation and Development.
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Egyptian health sector receives support from the World Bank
World Bank participated in drafting the idea of the comprehensive health insurance law, its preparation & implementation in Port Said.
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Egypt to offer 5-6 companies on stock exchange before end of fiscal year 2021/2022
The remarks came during the fourth Egypt Day Conference titled “Shaping the Investment Landscape” organized by EFG Hermes.
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Egypt's economy grew by 9.8% in Q1 FY 2021-22
Egypt expects a GDP growth of 5.5-5.7% in FY 2021-22 that ends in June.
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Egyptian bank boards to grant 2 seats for women
The Central Bank of Egypt (CBE) decided that two seats in each of Egypt's bank boards will be reserved for women, CBE Governor Tarek Amer told MENA.
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EBRD approves €250 mln loan to establish Alexandria’s Abu Qir metro line
EBRD’s loan, alongside with other finances, will be utilised to transform Abu Qir’s railway to a green metro line.
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CBE receives 33 bids worth $1.766bn for T-bills tender
Proceeds of latest tender will be directed to pay for previous one worth $1.585bn put forward on 17 November 2020.
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Economic reform helped Egypt's economy confront COVID-19
Egypt, unlike many other countries, has faced coronavirus with economic resilience and flexibility that are necessary to confront the pandemic.
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World Bank: Egypt has potential to be a regional economic hub
World Bank Group approved a $360 million development policy financing (DPF) loan for Egypt that aims to support the country’s 2nd wave of reforms.
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HDB reports EGP 2.038bn profits before taxes in September 2021
Bank’s recent results reflect strong operational performance, developing clear strategy to be among top commercial banks: Ghanem
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Egypt's economic reforms attract French investments
French economists said economic reforms that Egypt has implemented over the past seven years strengthened the investment-friendly environment.
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CBE approves instant payment network regulations
Regulations aim to allow payments sent between accounts at different banks to be credited, debited instantly, says Rami Abulnaga.
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UNDP appoints Alessandro Fracassetti as Egypt’s resident representative
The United Nations Development Programme (UNDP) has appointed Alessandro Fracassetti as the new resident representative of the programme in Egypt.
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EBRD sees Egypt's economy growing 4.9% in FY21/22
The increase is driven by a boom in the telecommunications sector, private consumption and investment and the return of FDIs.
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Egypt, US sign 7 development agreements worth $125 mln
Egypt has inked seven development financing grant agreements with the US worth $125 million through the US agency for development.
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Egypt fertile ground for investments due to unprecedented progress
Qatar’s ambassador in Cairo said that his country considers Egypt a fertile ground for investment in light of the unprecedented progress.
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Pioneers Securities tops brokerage transactions in October with 20% market share
Commercial International Brokerage comes second with market share of 16.4%.
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$360M loan aims to enhance Egypt's macro fiscal sustainability
Egypt Inclusive Growth for Sustainable Recovery program duration is around 17 months, with the closing date planned for March 31st, 2023.