Finance News
-
Egypt signs €57.7m agreement with Germany
This will go to launching 6 projects covering sectors of energy, administrative reform, technical education, vocational training, and water resources
-
FBG tops Egypt’s brokerage ranking in July with 30.2% market share
Financial Brokerage Group (FBG) led the brokerage ranking in Egypt during July, with a market share of 30.2%. Hermes Securities Brokerage came second.
-
Sisi to develop public business sector
President Sisi directed Minister of Public Business Sector Hisham Tawfiq to proceed with efforts to develop companies of the public business sector.
-
Egypt economy grows amid the pandemic
Egypt’s economy has been doing well despite the coronavirus pandemic and should continue on the same path.
-
Sisi approves law on FY 2021/22 state budget
the public expenditures for the FY 2021/22 stood at about $157.0 billion while the state's revenues are estimated at about $88.8 billion.
-
Egypt to launch 3rd stage of exporters support programme
Finance Minster Mohamed Maait said that the action comes in implementation of President Abdel-Fattah El-Sisi’s decision to back exporting companies.
-
Financial positions of banks rise by EGP 532bn
Capital at banks amounts to EGP 177.92bn, reserves register EGP 347.826bn, provisions score EGP 165.588bn in Q1 of 2021: CBE.
-
Egypt Takes on Sukuk
Egypt is getting ready to offer its first sovereign bonds (Sukuk), almost the first of its kind for the country, following parliament’s approval.
-
Egypt, UAE central banks ink MoU
According to the MoU, the two central banks will cooperate in fields of licenses & the ownership structures of the licensed financial institutions.
-
Egypt's economy grows 2.9% in Q3-20/21
The country is projected to achieve 5.2-5.5% economic growth in Q4 of FY20/21, the minister noted.
-
Egypt, IMF agree on $5.2 billion release
The IMF had also loaned Egypt a $2.8 billion emergency loan in 2020 to face the consequences of the pandemic.
-
Some banks report good results in Q1
The net profit at Al Baraka Bank – Egypt increased by 2% in Q1 of 2021 compared to Q1 of 2020, and by 108% compared to Q4 of 2020, recording EGP 269m.
-
Telda announces $5M pre-seed
A newly launched digital bank, Telda, is announcing a $5 million pre-seed round to digitize how Egyptians save, send and spend money.
-
Egypt, AfDB ink €145 mln for railway
Under the agreement, Egypt’s Railway Authority's main lines will be extended with 953 km controlled by the European Train Control System (ETCS-L1).
-
Egypt’s central bank obligations reach 2.1tln
Despite the Central Bank of Egypt's total assets growing by the end of April, gold and cash assets dropped compared to December's data.
-
Egypt’s FY2021/22 draft budget key highlights, targets
Egypt's FY2021/22 comes amid expectations that Egypt will approach its pre-pandemic growth levels, following a notable slowdown in its real GDP growth
-
Egypt’s economy set for a rebound in 2022
Egypt’s main sources of foreign exchange will remain under pressure as tourism and Suez Canal receipts still struggle amid the pandemic.
-
89% of Decent Life initiative's budget to Upper Egypt
89% of the budget disbursed within the first phase of Decent Life initiative was directed to Upper Egypt so as 334 out of 375 villages get 8.5EGP bln.
-
Egypt economy pandemic losses top $23.6bn, eyeing 7% growth over next three years
Finance minister Mohamed Maait also revealed the country’s deficit for the current fiscal year is about 500 billion Egyptian pounds.
-
Egypt targeting 5.4% real GDP growth, budget deficit decrease to 6.7% in FY2021/2022
FY2021/22 budget revenues are estimated at EGP 1.3 trillion, while expenses are expected to post EGP 1.8 trillion, according to Maait.