Finance News
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World Bank mission visits Egypt to discuss state ownership policy and financing
A mission from the World Bank arrived in Egypt on Tuesday for a multi-day visit to discuss the development of the country's State Ownership policy.
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JP Morgan to exclude Egypt from emerging market gov't bond index by end of January
Egypt has been under index surveillance since September 21, 2023, due to issues related to reported difficulties.
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Egypt's economic strategy for 2024-2030
The Egyptian government launched in January a comprehensive eight-direction economic strategy for the period 2024-2030.
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Proceeds of new CDs exceeded LE 32 billion in 3 days
The source added that NBE’s proceeds exceeded LE17 billion, while Banque Misr’s reached about LE15 billion on Monday.
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World Bank slightly downgrades Egypt’s growth forecast for 2024
The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate.
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Yellen to meet with Egypt's finance minister, central banker Tuesday
U.S. Treasury Secretary Janet Yellen will meet with top Egyptian finance officials in Washington on Tuesday.
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Egyptian economic and financial delegation in Washington for IMF talks: What do we know so far?
A high-level delegation from the Egyptian government has arrived in Washington DC to push forward Egypt's almost standstill loan programme.
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Egypt's central bank mandates 24% minimum interest on loans: Sources
The Central Bank of Egypt (CBE) has instructed all banks operating in the country to apply a minimum interest rate of 24 percent on loans.
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Egypt aims to launch digital currency by 2030
Egypt aims to launch a digital currency issued by the Central Bank of Egypt, represented by the digital pound (E-Pound) by 2030.
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Egypt sets EGP 15 mln as minimum capital for fintech startups
The approval is part of a broader initiative to bolster support for fintech startups and promote a business-favorable climate, as per the statement.
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Egypt inflation expected to slow in December
Inflation has eased from a historic high of 38.0% in September, but inflation risks are growing again.
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Egypt releases comprehensive economic blueprint for 2024-2030
Strategic roadmap to fortify the Egyptian economy in a turbulent global landscape.
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205 startups receive LE383.5M from Egypt Ventures over 7 years
Egypt Ventures was founded in 2017 with capital from the Ministry of International Cooperation with a mandate to support and invest in startups.
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Cabinet Spokesman: International Reports Confirm Unrealistic Dollar Rate on Parallel Market
The state is working to increase the dollar and foreign exchange assets to $300 billion annually.
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Egypt aims to boost annual FX revenue to $300 bln by 2030
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal.
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Egypt to shift to flexible dollar exchange rate, aiming for EGP 39.6 by 2028: Cabinet
Egypt is set to adopt a flexible exchange rate policy to adjust the pound’s value against the US dollar to meet a 39.61 rate planned by 2028.
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NBE, Banque Misr expect EGP 500 billion proceeds from new CDs
On Thursday, NBE and Banque Misr announced the issuance of new CDs, offering annual yields of 23.5 percent and 27 percent, respectively.
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Egypt's Cabinet to present document on strategic directions of economy during Sisi's third term for national discussions
The document includes 8 proposed strategic orientations based on the consensus of experts in several key areas and the ambitious national targets.
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IMF Delegation to Visit Egypt Next Month to Conduct further Consultations
Cabinet spokesman Mohamed El-Homsany said that an IMF delegation is visiting the country this month to conduct further consultations.
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NBE, Banque Misr new CDs attract EGP 11 bln in 24 hours
On Thursday, the NBE and Banque Misr announced issuing new CDs with 23.5 percent and 27 percent annual yields, respectively.