Finance News
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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.
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CBE to decide key interest rates amid rising inflation
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene on Thursday to review the key interest rates.
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Lifting state of emergency to help Egypt attract new foreign investment
Egyptian Exchange indices responded strongly to president's decision; Investment bankers welcomed the recent developments.
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CDC’s development financing portfolio in Egypt amounts to €440 m
Minister of International Cooperation discusses with CDC's Board of Directors, means of bolstering their activities in Egypt.
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Fitch Solutions maintains Egypt’s real GDP growth forecasts at 3%
Fitch Solutions has maintained its projections for Egypt’s real GDP growth and inflation during 2021 at 3 percent and 5.1 percent respectively.
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Agricultural Bank aims to reach 35mln customers
ABE to complete development of 1,000 branches nationwide by late 2022, more branches to come in villages and remote areas.
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Central Bank of Egypt reveals reasons behind high inflation
This comes as monthly headline urban inflation recorded 1.1% in September compared to 0.3% in September 2020. Consequently.
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Finance Ministry aims to increase sources of funding
Capital market demands tax justice. Yield curve reflects risks of different terms: Sharkawy.
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Pressing ahead with economic reforms will create more jobs
Egypt was among the few countries that achieved a positive growth last year despite the Covid-19 outbreak, IMF.
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Poverty rate in Egypt drops by 3%
Education levels are the most important indication of poverty, since poverty rates fall as people’s levels of education grow, CAPMAS.
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Sisi urges maintaining financial performance to reduce deficit
The state should also work on reducing the total deficit of the general budget to 6.7 percent and reducing the debt to less than 90%.
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Mashreq Bank signs partnership with Visa
Latest partnership aligned with Egypt’s ambitious strategy to encourage electronic payments ecosystem in country.
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Int'l financial institutions should assume bigger role
They need to provide more funding for mega infrastructure projects through soft loans and blended and innovative financing.
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Credit Agricole Egypt allocates EGP 200m to finance medical sector
In an official ceremony, UltraTeb was launched as the first electronic platform for providing medical supplies, with innovative bank financing.