Finance News
-
Gold prices decline after US federal's decision to raise interest rate
Spot gold was last down 0.30% to $1,80489 per ounce. U.S. gold futures fell 0.50% to $1,816.30.
-
Saudi-based Jumlaty and Egypt’s Appetito merge into new entity, NOMU
Aiming to become Mena’s leading food-tech supply chain platform, NOMU is currently present in Saudi Arabia, Egypt, Tunisia and Morocco.
-
Abou El-Enein: Sisi's initiatives bring civilizational transformation, investments to Africa
This came during his speech before the meeting of the high-level committee on increasing cooperation between the African and U.S private sectors.
-
Ex-Mubarak minister Mohamed Mansour appointed UK Conservative Party’s senior treasurer
The UK’s Conservative Party has appointed billionaire Mohamed Mansour, former transport minister as senior treasurer to the party.
-
Cairo 3A signs partnership to distribute Driscoll’s berries in local market
The partnership allows Cairo 3A Agricultural to distribute berry products in the local market with a plan to farm them in Egypt.
-
PIF prepares to acquire a bank in Egypt
The Saudi Public Investment Fund is in advanced talks for the acquisition of The United Bank, which is owned by the Central Bank of Egypt.
-
Al Tadamun Microfinance obtains EGP 100m from AAIB
The 2 parties stressed that the signing of this agreement comes within the framework of keenness on keeping pace with the plans and strategies of CBE.
-
Government banks explore opportunities to attract Egyptian expats invest home
Minister of Immigration meets major Egyptian investors in UAE to discuss available opportunities in several fields.
-
Egypt not threatened by its inability to pay its debts
The report issued by the Cabinet indicated the increase in the growth rate of Egyptian exports by 53.1 percent during the fiscal year 2021/2022.
-
Unraveling Egypt’s external debt: problems and solutions under spotlight
Egypt’s external debt was estimated at $155.7 billion by June 2022, according to Central Bank of Egypt data.
-
Egypt, World Bank Group discuss developments of social housing financing programme
The social housing financing programme began in 2015 at a value of $1bn to provide adequate housing for low and middle-income people.
-
Saudi Sovereign Fund in talks to acquire Egypt's United Bank for $600M
The United Bank was established in 2006 and has 65 branches nationwide and more than 200 ATMs.
-
Orascom Investment achieves profit of EGP 265.4m in nine months
The company’s revenues also increased to EGP 59.24m, compared to EGP 17.5m.
-
Finance Ministry refutes rumors on US dollar rate reaching LE40
The Finance Minister commented: “I hope that 2023 will be a year of stability, whether security or economic.”
-
Egypt sets master plan to boost foreign exchange reserves until June 2023
The value of imports exempted from the letters of credit system was increased to $500,000, instead of $5,000.
-
IMF stresses need to maintain flexibility of exchange rate in Egypt
The weak expectations of global economic growth, tightening fiscal policies and rising commodity prices led to an increase in financing needs.
-
Commercial International Bank Egypt nominates Hisham Ezz Al-Arab for election
The appointment for non-executive chairman is subject to the approval of the Central Bank of Egypt.
-
EGX expects to start trading on carbon certificates in 1H 2023
The point is to motivate companies to reduce carbon emissions and adopt sustainable plans to reduce air pollution while encouraging green investments.
-
Egypt's pound keeps falling on black market ahead of IMF meeting
Egypt continues to face a foreign currency shortage despite two major devaluations this year.
-
Egypt witnessed a 41.3% decrease in trade deficit in September 2022
The value of exports increased by 11.6%, reaching $4.11bn, up from $3.68bn due to the increased value of some commodities such as LNG.